HomeMy WebLinkAboutResolutions 88-295 N.C.S. 08/15/1988~ `~
Resolution No. 88-295 N.C.s.
of the City of Petaluma, California
RESOLUTION APPROVING
1988-1989 HOUSING PROGRAM
WHEREAS, General Plan policy requires participation by market .rate
residential development projects, to assist with the provision of very low,
low and moderate income housing; and,
WHEREAS, one method of compliance with this policy is the payment of
in-lieu housing fees by individual developers, the funds to be used to help
meet the need for very low, low and moderate income housing; and,
WHEREAS on August 1, 1988 the City Council met and discussed the
allocation of said funds for the 1988-1989 fiscal year,
NOW, THEREFORE, BE IT RESOLVED that the following programs be
undertaken in fiscal 1988-89:
1. $400, 000 for the second mortgage program in addition to any of
the $416, 000 allocated but as yet uncommitted in fiscal 1986-87
and 1987-88.
2. $240, 000 in support of on- and off-site improvements and fee
offset for the Mt. View project proposed by Petaluma Ecumenical
Projects.
3. $40, 000 in support of site development and/or pre-development
costs for the proposed Madrone Lane project proposed by the
Burbank Housing Development Corporation in addition to as yet
unused funds committed in Fiscal 87-88.
4. $200, 000 for land acquisition in support of the Caulfield project
proposed by Petaluma Ecumenical Projects.
5. Up to $250, 000 for a land bank acquisition pool available for use
during the year, including up to $50, 000 for use for
pre-development costs for eligible projects, subject to prior
approval by Council.
fz~~s. ho..._88-295....... n.cs.
6. $50, 000 for a one-year experimental operating grant to Petaluma
Ecumenical Projects. Uses for such funds are to be adopted by
the City Council no later than October 17, 1988. PEP must
report on the use of these funds in May 1989 to be eligible for
consideration of .any further such funding.
7 . $5, 000 for a spot audit of the rental units committed under the
City's Bond Finance Program in the Valley Orchards and Lakeville
Square Resort Apartments complexes.
8. Up to $35,000 for program administration.
The City Manager is hereby authorized to execute any agreements,
contracts, or other documents for expenditure of the funds allocated herein
above except that expenditures from Program 5 above must be authorized
by City Council.
reso. 88.89. housing .program /resol0
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) $.@cd~o>:ti~llell) :(3isaecisl}:meeting fO~'
on the .....-15th.---..... day of ....... August ..................................... 19H8~.., by the
following vote: ...--. . .. .............................
ity Attorney
AYES: Cavanagh, Tencer, Sobel, Woolsey, Balshaw, Mayor Hilligoss
NOES : 0
ABSENT: ice or Davis - ~ ~-
ATTEST: ...- _ -. ....... .... . .. ............. -- -- •-~-- -. .. .....-----.............--- ..-..,.:!!~:.`.:.-........-.
City Clerk ~ Mayor
Council File .....................°-°-°--•--..
CA 10-85 ~ Res. No.......8.$.-.~95..... N.C.S.