HomeMy WebLinkAboutRESO 5907'
\ . • e ORIGINAL
RESOLUTION NO. 59°t R~SOLUTION OF THE COUNCIL OF THEITY OF PALO ALTO
APPROVING THE REPROGRAMMING OF 1981-1982 COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS
WHEREAS i· on February 12, 1 979, the City Counci 1 adopted the
1979-1982 community Development Plan, the 1979-1982 Community Devel-
opment Program, and the 1979-1982 Housing Assistance Plan for the
City of Palo Alto; and
WHEREAS, the reprogramming of Community Development Block Grant
Funds (hereinafter •coaG•) is an allowable method to provide funding
to eligible projects1 and
WHEREAS, it is the intent of these programs to give the highest
priority to activities which will benefit low/moderate income persons
and aid in the prevention or elimination of slums or blight~ and
WHEREAS, the transfer of Rental Housing Acquisition Program
funds to the Landbank account is necessary in order for the Palo Alto
Housing Corporation to purchase the Ferne Avenue Apartments at such
time as a condominium application may be ap?roved by the City of Palo
Altai
NOW, THEREFORE, the Council of the City of Palo Alto does
RESOLVE as follows:
SECTION 1. The Council hereby authorizes the r~programming of
$93,250 in 1979-1980 and 1980-1981 CDBG funds from the Rental Housing
Acquisition Program to the Landbank account.
SECTION 2. The Council finds that none of the provisions of
this resolution will have a significant environmental impact.
INTRODUCED AND PASSED: May 4, 1981
AYES: Bechtel. Eyerly, Fletcher. Hendersen, K1efoJ Levy, :le1ze1, Witherspoon
NOES: None
ABSTENTIONS: None
ABSENT: Fazzino
APPROVED AS TO FORM:
As~ant ~torney
kee:
C1t o er
~pr§~~-
Community Enviromuent
of Budget and
Management