HomeMy WebLinkAbout444 RDA_CCv0001.pdf RESOLUTION NO. 444
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS
AUTHORIZING A FULL DEED RECONVEYANCE TO HOUSING PARTNERS 1, INC.,
AND CANCELLATION OF THE PROMISSORY NOTE ASSOCIATED WITH THE
DEVELOPMENT OF AFFORDABLE UNITS AT VISTA DEL SOL SENIOR APARTMENTS
WHEREAS, the Redevelopment Agency of the City of Redlands (the "Agency") is a
duly constituted redevelopment agency under the laws of the State of California and pursuant to
such laws is responsible for the administration of redevelopment activities within the City of
Redlands;and
WHEREAS, the City's Development Services Department currently is responsible for
the assistance for the development and preservation of affordable housing for the Agency;and
WHEREAS, the Agency entered into an Agreement and executed a Promissory Note
with Housing Partners 1,Inc. for the development of up to 71 affordable senior housing units,but
not less than I I Very Low Income units for seniors who earn up to 50%of Median Income, and
40 Low Income units for seniors who earn up to 80% of Median Income of San
Bernardino/Riverside County, as determined by the State Department of Housing and
Community Development; and
WHEREAS, the Agency provided assistance in the amount of Four Million One
Hundred Thousand Dollars ($4,100,000) for the development of new affordable senior housing
units• and
WHEREAS, Housing Partners 1, Inc. has provided to the Agency a Certificate of
Occupancy and satisfactory evidence that the units are lawfully occupied by qualified residents
and that, by such action, has complied with the provisions of the Agreement and the Promissory
Note;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Redevelopment Agency of the City of Redlands as follows:
Section 1. The facts set forth above in this Resolution are true and correct.
Section 2. The attached Deed of Full Reconveyance and Cancellation of the
Promissory Note is approved and the Chairman of the Redevelopment Agency of the City of
Redlands is hereby authorized to execute the same on behalf of the Agency.
Section 3. The Agency's Secretary shall certify to the passage and adoption of this
Resolution.
Section 4. This Resolution shall take effect upon the date of its adoption.
ADOPTED. SIGNED AND APPROVED this 21 st day of September,2010.
Pat Gilbreath, Chairman
ATTEST:
Sam Irwin, Sec etary
I, Sam Irwin, Secretary of the Redlands Community Redevelopment Agency, do hereby certify
that the foregoing Resolution No. 444 was passed and adopted at a regular meeting of the
Redlands Community Redevelopment Agency held on the 21" day of September, 2010, by the
following vote:
AYES: Members Bean, Harrison, Gallagher, Aguilar; Chairperson Gilbreath
NOES: None
ABSENT: None
ABSTAIN: None
Sam Irwin, Secretary