HomeMy WebLinkAbout94-03 - Home Investment PartnershipRESOLUTION NO. 94-3
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF COSTA MESA, CALIFORNIA, APPROVING
THE FIRST AMENDMENT TO THE HOME INVEST-
MENT PARTNERSHIP AGREEMENT NO. M92-MC060507
AND THE FIRST AMENDMENT TO DISBURSEMENT
PROCEDURES AGREEMENT.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
WHEREAS, the City of Costa Mesa and Civic Center Barrio Housing Corporation
('Developer") entered into the HOME Investment Partnership Agreement No. M92-MC060507
("HOME Agreement") on December 18, 1993; and
WHEREAS, a part of the HOME Agreement included a Disbursement Procedures
Agreement entered into by the City of Costa Mesa, Developer, and California Community
Reinvestment, Inc., lender on the Primary Loan; and
WHEREAS, the City of Costa Mesa desires to approve certain modifications to the
amount of proceeds of the City Loan which are disbursed into escrow and the amount of
proceeds of the City Loan disbursed to the Disbursement Account by the terms of the First
Amendment to the HOME Investment Agreement No. M92-MC060507 ("First Amendment")
and the First Amendment to the Disbursement Procedures Agreement ('Disbursement
Agreement");
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Costa
Mesa does hereby approve the First Amendment to HOME Investment Partnership Agreement
No. M92-MC060507 Amendment to HOME Investment Partnership Agreement No.
M92-MC060507 and the First Amendment to Disbursement Procedures Agreement, and
authorize the City Manager to execute and carry out such documents.
PASSED AND ADOPTED this 7th day of February, 1994.
x:: �al ,.�`ya�i-1-
Mayor of the City of Costa Mesa
ATTEST:
Deputy Ci Clerk of the City of Costa Mesa
311
-312
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council of
the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 94-3 was
duly and regularly passed and adopted by the said City Council at a regular meeting thereof held
on the 7th day of February, 1994.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City j
of Costa Mesa this 8th day of February, 1994. J
Deputy City erk and ex -officio Clerk of
the City Con it of the City of Costa Mesa
i
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