HomeMy WebLinkAboutORD 3339••
ORDINANCE NO. 3339
ORDINANCE OF THE COUNCIL OF ""TH1f CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 1 981-8 2 TO
ESTABLISH CAPITAL IMPROVEMENT PR0.7ECT NO. 81-94
"STATE REHABILITATION LOAN PROGRAM l~OR BELOW MARKET
RAT~ RENTAL HOUSI~G" AND TO PROVIDE FOR RECEIPT OF
!:"UNDS FROM THE STATE I)EFERREO PAYMENT REHABILITATION
PROGRAM
WHEREAS, pu~suant to the provisions of Section 12 of Article III
of the Charter of the City of Palo Alto, the Council on June 22, 1981,
did adopt a budget for fiscal year 1981-82; ana
WHEREAS, the State Deferred Payment Rehabilitation Loan Program
for Rental Units has made funds available for the 7:'!!habi 1 ~tat ion of
housing; and
WHEREAS, the City's Housing Improvement Pt"ogrnm wishes to asslst
the Palo Alto Housing Corporation (Elm Apartments Project) and the
Stevenson House with State Rehabilitation Loan Funds for necessary code
correction work;
NOW, THEREFORE, the Council of the City of Pdlo Alto does ORDAIN
as follows:
SECTION 1 * Capital Improvement Project No. 81-94 is established
for nst~te kehabilitat~.on Loan Program for Below Market Rate Rental
Housing.n
SECTION 2. The sum of Seventy-five Thousand Dollars ($75,000) is
appr0pr·1ated to Capital Improvement Project No. 81-94 "Str.\te Rehabili
tation Loan Program for Below Market Rate Rental Housing" and estimated
revenue is correspondingly increased to reflect receipt of funds for
the State Deferred Payment Rehabilitation Loan Program.
SECTION 3. The Council finds that this is not a project under the
Cali forn1 a Env i r·.::;nmental Quality Act and, therefore, no en vi ron,i•ental
im~act assessment is necessary.
SECTION 4. This ordinance shall become effective immediately as
provided in Section 12 of Artf cle III of the Chat·ter and Section
2. 04 ~ 375 of the Palo .7\1 to Municipal Code.
INTRODUCED AND PASSED: March 15, 1982
AYES: Bechtel, Cobb, Eyerly, Fazzino, Fletcher, Klein, Levy, Ren:zel,
Witherspoon
NOES: None
ABSTENTIONS: None;
ABSENT: None
ATTEST: