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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />RESOLUTION N0.2009-007 RDA (3150) <br />RESOLUTION DECLARING OFFICIAL INTENT TO REIMBURSE CERTAIN <br />EXPENDITURES FROM PROCEEDS OF INDEBTEDNESS TO FINANCE THE <br />CONSTRUCTION OF THE ALAMEDA AT SAN LEANDRO CROSSINGS <br />RESOLVED, by the Redevelopment Agency of the City of San Leandro (the <br />"Agency"), as follows: <br />WHEREAS, the Redevelopment Agency of the City of San Leandro (the <br />"Agency") desires to engage in a program (the "program") of financing the construction <br />of a multifamily rental housing development; <br />WHEREAS, Alameda Housing Associates, LP (the "Borrower") (together with <br />its successor or assigns or any partnership or limited liability company of which Bridge <br />Housing is a partner or a member), has made a request to the Agency for assistance with <br />respect to the financing of the construction of The Alameda at San Leandro Crossings, a <br />100 unit multi-family apartment project located at 1333 Martinez St., San Leandro, <br />California (the "Project"); and <br />WHEREAS, the assistance requested is the issuance by the Agency of tax- <br />exempt obligation bonds in one or more series (the "Bonds") in the maximum amount of <br />$40,000,000 the proceeds of which would be loaned to the Borrower or to an entity <br />created by the Borrower for the purpose of acquiring and constructing the Project; <br />WHEREAS, the Borrower expects to pay certain expenditures (the <br />"Reimbursement Expenditure") in connection with the Project prior to the issuance of the <br />Bonds for the purpose of financing cost associated with the Project on a long term basis; <br />WHEREAS, Section 1.103-8(a)(5) and Section 1.150-2 of the Treasury <br />Regulations require the Agency to declare its reasonable official intent to reimburse prior <br />expenditures for the Project with proceeds of a subsequent borrowing; and <br />WHEREAS, the Internal Revenue Code of 1986 and the applicable regulations <br />thereunder require the Borrower to take this action in connection with the payment of <br />certain expenses in connection with the Project prior to issuance of tax-exempt bonds in <br />order to allow the Borrower to be reimbursed for such expenditures; <br />NOW, THEREFORE, it is hereby ORDERED AND DETERMINED, as follows: <br />1. The statements contained in this Resolution with respect to the <br />reimbursement of the expenditure described in this Resolution are intended to be the <br />