HomeMy WebLinkAboutRDA RES 254RESOLUTION NO. 254
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY
APPROVING THE ERTENSION OF ITS AGREEMENT WITH FIRST
BANK OF PALM DESERT TO PROVZDE CONSTRUCTION FINANCING
FOR THE PALM DESERT SELF-HELP HOUSING PROGRAM.
WHEREAS, the Palm Desert Redevelopment Agency originally
entered into an agreement with First Bank of Palm Desert to assist
in the construction of eleven (11) self-help single family
residences by providing construction financing for the project,
and;
1991, and;
WHEREAS, this agreement is due to expire on December 25,
WHEREAS, an extension to April 30, 1992 on the agreement
is required to complete the construciton and financing aspect of
the project.
NOW, THEREFORE, BE IT RESOLVED that the Palm Desert
Redevelopment Agency Board does approve such extension of the
construction financing agreement with First Bank of Palm Desert to
April 3Q, 1992. The Executive Director and other appropriate
officials of the Agency are hereby authorized and directed to
execute such agreements and other documents as may be necessary or
desirable to effectuate this transaction.
PASSED, APPROVED AND ADOPTED by the Palm Desert
Redevelopment Agency Board this 12th day of December, 1991, by the
following vote, to wit:
AYES: BENSON, CRITES, SNYDER, WILSON, KELLY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ATTEST:
/(, . , /�; , .
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; SHEILA R. GI LIGAM, CRETARY
� � ' �
R ARD S. KELLY, CHAI AN