HomeMy WebLinkAboutPCDC Resolution 95-01 02/21/1995PETALUMA COMMUNITYDEVELOPMENT COMMISSION
RESOLUTION NO. 95-01
RESOLUTION APPROVING THE ALLOCATION OF FUNDS FROM THE SITE
ACQUISITION RESERVE FUND TO BURBANK HOUSING DEVELOPMENT
CORPORATION FOR ACQUISITION OF THE "ZELL" PARCELS
WHEREAS Burbank Housing Development Corporation (Burbank) has extensive
experience in developing affordable housing in Petaluma; and
WHEREAS the Petaluma Community Development Commission (PCDC) relies on
Burbank to constantly assess new opportunities which may become available to add
affordable units to the Housing Program; and
WHEREAS Burbank has located an appropriate site to landbank for future use as a
housing development; and
WHEREAS PCDC has allocated funds in Fiscal Years 1992-93 and 1993-94 to purchase
this site; and
WHEREAS final negotiations for purchase of the site necessitate an additional allocation
of $63,900.00 from the Site Acquisition reserve,
NOW, THEREFORE, BE IT RESOLVED that $63,900 be allocated from 1994-95 Site
Acquisition Reserve Account #5443 and disbursed to Burbank upon receipt of the
appropriate documents by PCDC; and
BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to
execute the appropriate documents on behalf of the Commission.
Commissioner
No
Absent
Barlas
Hamilton
Maguire
Shea
Stompe
Vice Chair Read
Chairman Hilligoss
x
x
x
x
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ATTEST:
. ernar , ecor mg ecretary
zellreso/bg18
Reso. 95-01
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