HomeMy WebLinkAboutPCDC Resolution 94-09 09/07/1994PETALUMA COMMUNITYDEVELOPMENT COMMISSION
RESOL UTION NO. 9 4-0 9
RESOLUTION AUTHORIZING AMENDMENT TO THE 1993
COOPERATIVE AGREEMENT BETWEEN THE PETALUMA COMMUNITY
DEVELOPMENT COMMISSION AND THE SONOMA COUNTY COMMUNITY
DEVELOPMENT COMMISSION AUTHORIZING THE REALLOCATION OF
MORTGAGE CREDIT CERTIFICATE AUTHORITY
WHEREAS the Petaluma Community Development Commission ("PCDC") and the
Sonoma County Community Development Commission (the "County") have previously
entered into a Cooperative .Agreement (the "Agreement") pursuant to which the County
applied to the California Debt Limit Allocation Committee ("CDLAC") for allocation of
Mortgage Credit Certificate ("MCC") authority in the name of PCDC; and
WHEREAS the County has been administering the MCC program on behalf of PCDC, the
County and other cities in the county; and
WHEREAS, the amounts initially allocated to PCDC, the County and other cities in the
county have not matched the actual amounts of MCCs issued within the City of Petaluma,
the County and the other cities in the county; and
WHEREAS PCDC and the County desire to apply to CDLAC for approval of a
reallocation of MCC authority; and
WHEREAS PCDC and the County desire to amend the Agreement to provide for a
reallocation of MCC authority and adjustments in administrative costs to match the actual
demand for use of MCCs within the city of Petaluma, the County and other cities in the
County;
NOW THEREFORE BE IT RESOLVED that the designated representative of the
County is hereby authorized to make immediate application to CDLAC in the name of
PCDC for a reallocation of MCC authority which would allow the amount of MCC
certificates issued to match the actual demand for use of MCCs within the City of
Petaluma, the County and the other cities in the County; and
BE IT FURTHER RESOLVED that the Amendment to the Cooperative Agreement (the
"Amendment") dated as of se tember~ 1994, between PCDC and the County is hereby
approved and the Executive erector is authorized to execute and deliver the Agreement
on behalf of PCDC. With the review of the PCDC attorney, the Executive Director is
further authorized to enter into such additional agreements with the County, deemed
necessary or appropriate to carry out the purpose and intent of the Agreement or to
cooperate in the implementation of the Program.
Commissioner Aye No Absent
Barlas x
Hamilton X
Parkerson X
Read X
Shea ~ X
Vice Chair Sobel ~ ~ ~~ X
Chairman Hilligoss
atncia i igoss, airma
ATTEST:.,--7 r~
ernard, Kecordmg Secretary
94-09