HomeMy WebLinkAbout1985-07-30; Housing & Redevelopment Commission; Resolution 52m m
l. II HOUSING AND REDEVELOPMENT COMMISSION RESOLUTION NO.! -
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A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMIS
OF THE CITY OF CARLSBAD, CALIFORNIA APPROVING DEBT 0
THE REDEVELOPMENT AGENCY AND REQUESTING A LOAN FROM CITY FOR THE NECESSARY FUNDS.
WHEREAS, the Housing and Redevelopment Commission o
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feasibility study of the Redevelopment Area: and 6
of Carlsbad, California, has considered the necessity for
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NOW, THEREFORE, BE IT RESOLVED, by the Housing and 9
WHEREAS, the Housiny and Redevelopment Commission I
8 the study to be acceptable expense to the Redevelopment B
10 ment Commission as follows:
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1. That the Redevelopment Agency debt for market feasi
2. That the Housing and Redevelopment Commission herek
study is hereby approved up to but not to exceed $5
that the City Council of the City of Carlsbad loan
amount up to but not to exceed $57,490 to the Redev
Agency for the exclusive purpose of preparation of
feasibility study of the Redevelopment Area.
3. That the Housing and Redevelopment Commission herek
that the Redevelopment Agency will repay this loan
tax increment funds due the Agency.
4. That the Housing and Redevelopment Commission herek
to pay an annual interest rate of 10% to the City c
on the unpaid balance of the loan.
20 ll PASSED, APPROVED AND ADOPTED at a regular meeting c
21 I/ Housing and Redevelopment Commission on the 30th day of j -
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NOES: None 24
AYES: Canmissioners Casler, Lewis, Kulchin, Chick and Petti 23
1985, by the following vote, to wit:
25 ABSTAIN: None
26 ATTEST : & d; & 3 MARY H. iCASLER, Chai
"(SEAL)