HomeMy WebLinkAboutResolution No. 98-R300 0
RESOLUTION NO. 98—R3 0
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING THE PROPOSED COMMERCIAL REHABILITATION LOAN FOR MR.
AND MRS. MIGUEL, 525-531 NORTH AZUSA AVENUE
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. The Redevelopment Agency of the City of Azusa does hereby find,
determine and declare that:
A. The City of Azusa has allocated funds for the Agency's Commercial
Rehabilitation Loan Program; and
B. The 1997-1998 City budget contains loan funds for the Agency's
Commercial Rehabilitation Loan Program; and
C. The $20,000 Miguel loan is the first loan to be funded and the project is
ready to proceed. The loan is forgiven after five years from the loan recording date.
SECTION 2. The Redevelopment Agency hereby approves the $20,000 loan to Mr. and
Mrs. Miguel.
SECTION 3. The Agency has obtained no less than three informal contractor bids and
therefore competitive formal bidding is waived.
SECTION 4. The Chairperson of the Redevelopment Agency is authorized to execute all
loan documents in connection with the Agency loan to the Miguels.
SECTION 5. The Secretary shall certify passage and adoption of this Resolution and the
same shall thereupon take effect and be in force.
PASSED,
INA CRUZ -MADRID
CHAIRPERSON
ADOPTED this 4th day of May , 1998.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted at a meeting of the
Redevelopment Agency of the City of Azusa, at a regular meeting thereof, held on the 4th day of
May, 1998, by the following vote of the Board of Directors:
AYES: BOARDMEMBERS :
NOTES: BOARDMEMBERS :
ABSENT: BOARDMEMBERS
SOLI
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HARDISON, STANFORD, ROCHA, BEEBE, MADRID
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