HomeMy WebLinkAboutResolutions 86-177A N.C.S. 07/07/1986Resolution No. 86-1~~ N.C.S.
of the City of Petaluma, California
RESOLUTION ESTABLISHING COMMITMENTS
FOR 1986/87 LOW AND MODERATE INCOME HOUSING PROGRAM
WHEREAS the City's policy calls for provision of housing opportunities for
all income groups; and
WHEREAS each and every residential development project in excess of
fifteen units must provide for low and moderate income housing
opportunities; and
WHEREAS one method which said developers can use is the payment of fees
per Resolution 84-199 N.C.S.; and
NOW THEREFORE BE IT RESOLVED that it is the Council's intent to commit
said funds up to the following amounts for various programs in 1986-87* to
help provide low and moderate income housing as follows:
1. Land. Acquisition $200,000
2. Direct Developer Assistance
Burbank Housing -Magnolia Hills $139, 814
3. Second Mortgage Program
Moderate Income Households $200,000
$539,814
* Assuming receipt of sufficient funds from developers.
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 Appr e~ s t
Council of the City of Petaluma at a (Regular) (~X,~iII~) meeting
on the .........-7~~-.._.. day of ..............sT..la.a,.~................................_, 19..~.~, by the
following vote: ~ ....................................•--••--
City Attorney
AYES: Davis, Sobel, Woolsey, Cavanagh, Balshaw, V.M. Tencer, Mayor Mattei
NOES: None
ABSENT: None ~~;
ATTES'T' : ....... ..........................................................•-----•--....-..---------...--..
City Clerk Mayor
co~~i Fsi~.c°z0~ ~ /
..................
CA 10-85 Res. No...86..-1.7.7..... N.C.S.