HomeMy WebLinkAboutResolution 92-297 11/16/19921
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ReSOlUtlO~ ~0. 92-297 N.C.~.
~~f thf~ City of f't~talurY~~~, C~~liforni~~
RESOLUTION APPROVING LOAN DOCUMENTS FOR CORONA
CRESCENT TOWNHOUSE DEVELOPMENT
WHEREAS, the City Council of Petaluma has as one of its housing goals the provision of
affordable homes for low and moderate-income, qualified first-time homebuyers; and
WHEREAS, the City of Petaluma and Eden Housing Inc. are working in cooperation to
develop sixteen for-sale townhouses in the development known as Corona Crescent; and
WHEREAS, such a development necessitates the drafting and approval of documents
relating to land transfer, development, financing, and affordability guarantees;
NOW, THEREFORE, BE IT RESOLVED that the City Council hereby authorizes the
City manager to sign all necessary .loan documents related to the Corona Crescent
Townhouses, after review and approval by the City Attorney.
cresloan / Vg-10
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) (IIDI~b3ti~~)C7{~~ei~) meeting fO~
on the ....~.fitll.--.-....... day of ...................Nnve.rnb~er........-....-•--., 19..-9 2, by the
following vote: •.-•••••-,-• _- _
City Attorney
AYES.: Read, Davis, Sobel, Nelson, Vice Mayor Cavanagh, Mayor Hilligoss
NOES: None
ABSENT: Woolse ~/
.
ATTEST: ......... _~.........~:.~ . .... ..... ... ~ -•-----•-~
City Clerk Mayc
CA 10-85
Gbimcil File...........C.] ........................
Res. No.....9.2.-2.°.7......... N.C.S.
/J