HomeMy WebLinkAboutRDA RES 251RESOLUTION N0. 251
A RESOLUTION OF THE PALM OESERT REDEVELOPMENT AGENCY
AUTHORIZING THE SUBMITTAL OF A LOAN APPLICATION, THE
EXECU7ION OF A STANDARD AGREEMENT AND ANY AMENDMENTS
THERETO, AND ANY RELATED DOCUMENTS NECESSARY TO PARTiCIPATE
IN THE MOBILEHOME PARK RESIDENT ONNERSHIP PROGRAM AND SECURE
A CQMMITMENT OF FUNDS FROM THE CAIIFORNIA DEPARTMENT
OF HOUSING AND COMMUNITY DEVELOPMENT
MHEREAS, the Palm Desert Redevelopment Agencv (hereinafter
referred t.o as "the Local Public £ntity") organized and opE�rate�
under the Constitution and laws of the State of California, is
eligible to receive a commitment of funds and participate in the
Mobilehome Park Resident Ownership Program lhereinafter ref�rrPd
to as "MPROP"): and
NHEREAS, the California Department of Housing and Community
Devel�pment (hereinaf'ter referred to as the "Department" is
authorized to make loans for the purpose of financing mobilehom�
park c:o�version costs and t.o reduce the monthly housing costs for
low-income residents to an affordable level; and
MHEREAS, the Local Public Entity wishes to obtain from tr�e
Uepartment, a commitment of funds for the purpose of finar���in�
the monthly housing costs for low-income residents to an
�fford�hle level.
NON, THEREFORE, BE 1T RESOLVED THAT:
The Local Public Entity as a co-applirant with Portola Palms
Mc>bi lehome Park sf�al l submit to the Dep�rtment an
ar�plication for participation in MPROP and to request a
ci�mrn i tment of funds for a mob i 1 ehome park convers i on pro iect
loc�ted at 43-155 Portola Avenue, Palm Desert, CA 92260.
2. If khe application is approved, the Local Public Entity is
hereby authorized to enter into a standard agreement with
the Department for the purposes set forth in the loan
application and approved by the Department. It aiso mav
execute other instruments necessary or required by the
Department for participation in MPROP.
3. 1he Local Public Entity is further authorized to request
amendments, including increases in fund commitments up to
amounts approved by t.he Department and to execute any and
--- al1 document.s required by the Department to evidence and
secure tt�ese amendments.
RESOLUTION N0. 251
4. The Local Public Entity authorizes the Chairman to execute
in the name of the Local Public Entity the loan application,
the standard agreement, and other documents necessary or
required by the Department for participation in MPROP, and
anv amendments thereto.
PASSED, APPROVED. and ADOPTED thi s 26th day of Se�tember,
1991., by the following vot.e:
AYES: BENSON. CRITES, KEL�Y, WILSON, AND SNY[�ER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
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WALTER H. SNYDER, CHAI AN
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SHEfLA R. �.LIGAN, CRETARY TQ THE
PALM DESFRT'REDEVE 0 MENT AGENCY
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