HomeMy WebLinkAboutResolution No. 99-R210 0
RESOLUTION NO. 99—R21
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA APPROVING
THE SUBORDINATION POLICY FOR THE AGENCY'S FIRST
TIME HOME BUYER PROGRAM AS AMENDED
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Board of Directors of the Redevelopment Agency of the City of Azusa ("Agency")
does hereby find, determine and declare that:
A. The Redevelopment Agency of the City of Azusa ("Agency") is engaged in activities necessary
to execute in implement the Redevelopment Plan for the Merged Project Area ("Redevelopment
Plan"); and
B. The adoption of the Policy as amended could not possibly have a significant effect on the
environment.
SECTION 2. The Board of Directors hereby approves the Subordination Policy, as amended, in
substantially the form attached to hereto as Exhibit A, together with such minor changes as may be approved
by the Executive Director of the Agency and Agency Counsel.
SECTION 3. The Executive Director of the Agency is hereby authorized to execute future Agency loan
subordination requests.
SECTION 4. The Agency Secretary shall certify passage and adoption of this Resolution and the same
shall thereupgrMe effect and be in force.
this 19thdayof April , 1999.
Chairperson
HEREBY CERTIFY that the foregoing Resolution No.99—R21was duly adopted at
a meeting of the Redevelopment Agency of the City of Azusa, at a regular meeting thereof held on the 19 day
of April 1999, by the following vote of the Agency Board of Directors.
AYES: BOARDMEMBERS: HARDISON, STANFORD, ROCHA, BEEBE, MADRID
NOES: BOARD MEMBERS: NONE
ABSTAIN: BOARDMEMBERS: NONE/)
ABSEN D EMBER NO
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Agency Secretary
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