HomeMy WebLinkAboutHousing & Redevelopment Commission; 2001-08-20;A COOPERATION AGREEMENT
BETWEEN THE CITY OF CARLSBAD AND THE
CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION
FOR REIMBURSEMENT OF ADMINISTRATIVE COSTS AND
PROVISION OF FINANCIAL ASSISTANCE FOR IMPLEMENTATION OF
REDEVELOPMENT ACTIVITIES
This AMENDED AGREEMENT is entered into as of the r day of _
. 2011, by and between the CITY OF CARLSBAD, a municipal corporation, (the
"City") and the CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION, a body
corporate and politic, (the "Commission").
RECITALS
A. The City Council of the City of Carlsbad, acting pursuant to the provisions of
the California Community Redevelopment Law (California Heath and Safety Code
§3300, et seq.), declared a need for a Community Development Commission, by
Ordinance No. 1223, and activated the Commission, as the Housing and
Redevelopment Commission, on October 16, 1979.
B. The City Council of the City of Carlsbad previously declared itself to constitute
the Commission for purposes of implementing redevelopment activities within the City of
Carlsbad.
C. The City of Carlsbad and the Carlsbad Housing and Redevelopment
Commission previously entered into a cooperative agreement to set forth the
relationships between the City and the Commission which was adopted on February 8,
1980 for the purposes of implementing redevelopment activities within the City of
Carlsbad.
Cooperation Agreement
Pagel
2/16/11
D. The Cooperative Agreement adopted on February 8, 1980, which is
incorporated herein by this reference, sets forth the City-Commission relationship with
respect to the implementation of redevelopment activities and shall by restated within
this Agreement and shall apply to both the Village Redevelopment Project Area and the
South Carlsbad Coastal Redevelopment Area, adopted in July, 1981 and July, 2000,
respectively.
E. Pursuant to and in accordance with the powers and authorization provided to
public bodies in California Health and Safety Code §33000, in effect as of January 1,
2011, the City and the Commission desire to continue their relationship as set forth in
the previously approved Cooperative Agreement for the implementation of activities
both within the Village Redevelopment Project Area, during and after plan effectiveness
to complete said activities as necessary,, and within the South Carlsbad Coastal
Redevelopment Area whereby the City has agreed and will provide the Commission on
an as-needed basis, with advances or loan proceeds, staff and other administrative
services and facilities, and make expenditures on behalf of the Commission.
F. Pursuant to the Community Redevelopment Law and previously approved
Cooperative Agreement, the Commission is performing a public function of the City and
may have access to staff and other administrative services and facilities of the City, and
may accept financial assistance from the City.
G. The City and the Commission desire to amend this Cooperative
Agreement at this time for the following purposes:
1. To reaffirm the City and Commission's cooperative agreement
whereby the City will provide staff, services and facilities to the Commission in
Cooperation Agreement
Page 2
2/16/11
furtherance of the activities and functions of the Commission under the Community
Redevelopment Law for the Village Redevelopment Project Area as it currently exists
and for an additional approximately ten (10) years following expiration of the Village
Redevelopment Plan to complete redevelopment projects and/or activities, and for the
South Carlsbad Coastal Redevelopment Project Area for the remaining life of the
project.
2. To reaffirm that the Commission will reimburse the City for actions
undertaken and all costs and expenses incurred by it for and on behalf of the
Commission, and will repay loans advanced to the Commission, according to applicable
Community Redevelopment Law, as in effect as of January 1, 2011, for the Village
Redevelopment Project Area as it currently exists and for an additional approximately
ten (10) years following expiration of the Village Redevelopment Plan to complete
redevelopment projects and/or activities as appropriate, and for the South Carlsbad
Coastal Redevelopment Area for the remaining life of the project and beyond as set
forth within this and subsequent agreements, and subject to the terms of any
subsequent loan, and reimbursement and repayment agreements.
3. To establish Administrative Funds for operation and support of the
Village Redevelopment Project Area and for projects/activities implemented pursuant to
approved contracts and/or agreements following expiration of the effectiveness date for
the Village Redevelopment Plan as well as for operation and support of the South
Carlsbad Coastal Redevelopment Project Area, as appropriate, with funds appropriated
by the City Council to the Commission as a loan to be repaid as funds are available to
the Commission for such purpose, and to establish a Revolving Fund for the purposes
Cooperation Agreement
Page3
2/16/11
of depositing any loan proceeds provided by the City to the Commission. These Funds
are to be established by the City and held in the City Treasury.
SECTION 1. PURPOSE OF CITY ASSISTANCE
Upon the written request of the Commission's Executive Director, and as
authorized by the Commission, the City agrees to loan to the Commission an amount
equal to those costs incurred by the Commission in connection with the preparation and
implementation of redevelopment plans and related projects and/or activities pursuant
to the Community Redevelopment Law; which costs include, but shall not be limited to:
the costs of surveys, planning, studies, and environmental assessments for the
adoption of a redevelopment plan; the costs of acquisition of properties acquired,
building and site preparation; public improvements; relocation assistance to displaced
residential and nonresidential occupants as required by law; financial assistance
provided to developers; and, other costs incurred by the Commission in increasing,
improving and preserving the City's supply of low and moderate income housing
availability at affordable housing costs both inside and outside redevelopment project
areas, in accordance with Health and Safety Code Section 33334.2 et seq.
SECTION 2. FORM OF CITY ASSISTANCE
The City's assistance may take the form of: a) provision of services
(through City employees, officers and/or special consultants), supplies, or facilities to
the Commission, b) expenditure of City funds by the City on behalf of the Commission,
and/or c) the loan of City funds to the Commission, or any combination thereof as
determined and authorized by the City, and accepted by the Commission. In order to
implement the loan of City funds to the Commission for services, facilities and other
redevelopment purposes, the City will establish a community redevelopment agency
Cooperation Agreement
Page 4
2/16/11
Administrative Fund pursuant to California Health and Safety Code Sections 33610-
33615, and a redevelopment Revolving Fund pursuant to California Health and Safety
Code Sections 33620-33626 in which such loan proceeds shall be deposited. The
aggregate amount of such City assistance, (including the provision of services, the cost
of which shall be determined by the City) will be paid to the Commission as requested
by the Executive Director and shall be repaid to the City as further described in Section
4 of this Agreement.
SECTION 3. INDEBTEDNESS CREATED
The obligations of the Commission under this Agreement, whether to
repay funds advanced or to reimburse the City for services rendered or expenditures
made on the Commission's behalf, shall constitute an indebtedness of the Commission
within the meaning of California Health and Safety Code §33000, et seq. for the South
Carlsbad Coastal Redevelopment Project Area. The debt of the Village Redevelopment
and South Carlsbad Coastal Redevelopment Project Areas will be repaid according to
separate reimbursement and repayment schedule agreements which have been
approved separately.
SECTION 4. REPAYMENT OF DEBT
The Commission agrees to repay the City for all assistance rendered
hereunder. On the basis of procedures to be established by the City Manager, the City
shall compute the costs of the services and facilities provided hereunder, the amount of
funds expended on the Commission's behalf and/or advanced to the Commission for
services and facilities provided. Such costs and expended funds shall include a
proration of the City's administrative and salary expense attributable to the rendition of
services by City officials, employees and departments on behalf of the Commission,
Cooperation Agreement
PageS
2/16/11
provided, however, that no City officer or employee shall be paid extra compensation for
any work performed for the Commission unless such compensation is expressly
authorized and provided by the City Council.
SECTION 5. TERMS OF REPAYMENT
The Commission agrees to repay the City together with accrued interest
calculated at a variable rate based upon the annual average rate of return earned on
the City's investment portfolio as determined by the City's Treasurer, compounded
annually, and to the extent that the Commission has funds and/or other assets available
pursuant to California Health and Safety Code Section 33670 or from other sources,
which are not otherwise needed to carry out the Commission's redevelopment projects.
Interest shall be calculated annually by the City for the Commission. The parties agree,
however, that the indebtedness of the Commission to the City created by this
Agreement is subordinate to any pledge of tax increments made in connection with the
issuance and sale of bonds which are or may be issued by the Commission or another
public entity under contract with the Commission.
SECTION 6. INCLUSION IN INSURANCE POLICY
The City agrees to include the Commission within the terms of the City's
insurance policy at a rate similar to charges made to other departments/districts of the
City.
SECTION 7. REMEDIES
If either party defaults with regard to any of the provisions of this
Agreement, the non-defaulting party shall serve written notice of such default upon the
defaulting party. If the default is not cured by the defaulting party within ninety (90) days
after service of notice of default, or if the default is not commenced to be cured within
Cooperation Agreement
Page 6
2/16/11
thirty (30) days after service of the notice of default and is not cured promptly within a
reasonable period of time after commencement, the defaulting party shall be liable to
the other party for damages caused by such default.
SECTION 8. PRIOR AGREEMENTS
This Agreement constitutes the entire Agreement between the parties
pertaining to the subject matter contained herein, and supersedes all prior and
contemporaneous agreements, representations and understandings of the parties.
SECTION 9. SEVERAB1LITY
The provisions of this Agreement are severable. If any portion of this
Agreement is held invalid by a court of competent jurisdiction, the remainder of the
Agreement shall remain in full force and effect unless amended or modified by the
mutual consent of the parties.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be executed as of the day and year first above written.
APPROVED AS TO FORM:
RONAD R. BAL
City Attorney
APPROVED AS TO FORM:
RONALD R. BALL
Attorney to the Commission
LORlNE'WOOD"
City Clerk
Cooperation Agreement
Page?
2/16/11
CITY OF CARLSBAD
A Municipal Corporation
CARLSBAD HOUSING AND
REDEVELOPMEMT COMMISSION
A Body Corporate and Politic
By:
Mat! (Hall
Chairman
HILDABRAND
Executive Director/Secretary
Cooperation Agreement
Page 8
2/16/11
A COOPERATION AGREEMENT
BETWEEN THE CITY OF CARLSBAD AND THE
CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION
FOR REIMBURSEMENT OF ADMINISTRATIVE COSTS AND
PROVISION OF FINANCIAL ASSISTANCE FOR IMPLEMENTATION OF
REDEVELOPMENT ACTIVITIES
This AGREEMENT is entered into as of the 20th day of Auuust ,
2001, by and between the CITY OF CARLSBAD, a municipal corporation, (the “City”)
and the CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION, a body
corporate and politic, (the “Commission”).
RECITALS
A. The City Council of the City of Carlsbad, acting pursuant to the provisions of
the California Community Redevelopment Law (California Heath and Safety Code
$3300, et seq.), declared a need for a Community Development Commission, by
Ordinance No. 1223, and activated the Commission, as the Housing and
Redevelopment Commission, on October 16, 1979.
B. The City Council of the City of Carlsbad previously declared itself to constitute
the Commission for purposes of implementing redevelopment activities within the City of
Carlsbad.
C. The City of Carlsbad and the Carlsbad Housing and Redevelopment
Commission previously entered into a cooperative agreement to set forth the
relationships between the City and the Commission which was adopted on February 8,
1980 for the purposes of implementing redevelopment activities within the City of
Carlsbad.
Cooperation Agreement
Page 1
6/28lOl
D. The Cooperative Agreement adopted on Februray 8, 1980, which is
incorporated herein by this reference, sets forth the City-Commission relationship with
respect to the implementation of redevelopment activities and shall by restatement
within this Agreement apply to both the Village Redevelopment Project Area and the
South Carlsbad Coastal Redevelopment Area, adopted in July, 1981 and July, 2000,
respectively.
E. Pursuant to and in accordance with the powers and authorization provided to
public bodies in California Health and Safety Code $33000, the City and the
Commission desire to continue their relationship as set forth in the previously approved
Cooperative Agreement for the implementation of activities both within the Village
Redevelopment Project Area and South Carlsbad Coastal Redevelopment Area
whereby the City has agreed and will provide the Commission on an as-needed basis,
with loan proceeds, staff and other administrative services and facilities, and make
expenditures on behalf of the Commission.
F. Pursuant to the Community Redevelopment Law and previously approved
Cooperative Agreement, the Commission is performing a public function of the City and
may have access to staff and other administrative services and facilities of the City, and
may accept financial assistance from the City.
G. The City and the Commission desire to enter into this Cooperative
Agreement at this time for the following purposes:
1. To reaffirm the City and Commission’s cooperative agreement
whereby the City will provide staff, services and facilities to the Commission in
furtherance of the activities and functions of the Commission under the Community
Cooperation Agreement
Page 2
6/28/O 1
7
Redevelopment Law for both the existing Village Redevelopment Project Area and the
newly adopted South Carlsbad Coastal Redevelopment Project Area.
2. To reaffirm that the Commission will reimburse the City for actions
undertaken and all costs and expenses incurred by it for and on behalf of the
Commission, and will repay loans advanced to the Commission, according to applicable
Community Redevelopment Law, for both the existing Village Redevelopment Project
Area and the newly adopted South Carlsbad Coastal Redevelopment Area, and subject
to the terms of any subsequent loan agreements.
3. To establish Administrative Funds for the existing Village
Redevelopment Project Area and newly adopted South Carlsbad Coastal
Redevelopment Project Area, as appropriate, with funds appropriated by the City
Council to the Commission as a loan to be repaid as funds are available to the
Commission for such purpose, and to establish a Revolving Fund for the purposes of
depositing any loan proceeds provided by the City to the Commission. These Funds are
to be established by the City and held in the City Treasury.
SECTION 1. PURPOSE OF CITY ASSISTANCE
Upon the written request of the Commission’s Executive Director, and as
authorized by the Commission, the City agrees to loan to the Commission an amount
equal to those costs incurred by the Commission in connection with the preparation and
implementation of redevelopment plans pursuant to the Community Redevelopment
Law; which costs include, but shall not be limited to: the costs of surveys, planning,
studies, and environmental assessments for the adoption of a redevelopment plan; the
costs of acquisition of properties acquired, building and site preparation; public
improvements; relocation assistance to displaced residential and nonresidential
Cooperation Agreement
Page 3
6/28/01
53
occupants as required by law; financial assistance provided to developers; and, other
costs incurred by the Commission in increasing, improving and preserving the City’s
supply of low and moderate income housing availability at affordable housing costs both
inside and outside redevelopment project areas, in accordance with Health and Safety
Code Section 33334.2 et seq.
SECTION 2. FORM OF CITY ASSISTANCE
The City’s assistance may take the form of: a) provision of services
(through City employees, officers and/or special consultants), supplies, or facilities to
the Commission, b) expenditure of City funds by the City on behalf of the Commission,
and/or c) the loan of City funds to the Commission, or any combination thereof as
determined and authorized by the City, and accepted by the Commission. In order to
implement the loan of City funds to the Commission for services, facilities and other
redevelopment purposes, the City will establish a community redevelopment agency
Administrative Fund pursuant to California Health and Safety Code Sections 33610-
33615, and a redevelopment Revolving Fund pursuant to California Health and Safety
Code Sections 33620-33626 in which such loan proceeds shall be deposited. The
aggregate amount of such City assistance, (including the provision of services, the cost
of which shall be determined by the City) will be paid to the Commission as requested
by the Executive Director and shall be repaid to the City as further described in Section
4 of this Agreement.
SECTION 3. INDEBTEDNESS CREATED
The obligations of the Commission under this Agreement, whether to
repay funds advanced or to reimburse the City for services rendered or expenditures
made on the Commission’s behalf, shall constitute an indebtedness of the Commission
Cooperation Agreement
Page 4
6/28/O 1
4
within the meaning of California Health and Safety Code §33000, et seq. for the South
Carlsbad Coastal Redevelopment Project Area. The debt of the South Carlsbad
Coastal Redevelopment Project Area will be due and payable by the Commission in
accordance with the terms of this Agreement. The debt of the Village Redevelopment
Project Area will be repaid according to a separate loan agreement, or agreements, to
be approved separately.
SECTION 4. REPAYMENT OF DEBT
The Commission agrees to repay the City for all assistance rendered
hereunder. On the basis of procedures to be established by the City Manager, the City
shall compute the costs of the services and facilities provided hereunder, the amount of
funds expended on the Commission’s behalf and/or advanced to the Commission for
services and facilities provided. Such costs and expended funds shall include a
proration of the City’s administrative and salary expense attributable to the rendition of
services by City officials, employees and departments on behalf of the Commission,
provided, however, that no City officer or employee shall be paid extra compensation for
any work performed for the Commission unless such compensation is expressly
authorized and provided by the City Council.
SECTION 5. TERMS OF REPAYMENT
The Commission agrees to repay the City together with accrued interest
calculated at a variable rate based upon the annual average rate of return earned on
the City’s investment portfolio as determined by the City’s Treasurer, compounded
annually, and to the extent that the Commission has funds available pursuant to
California Health and Safety Code Section 33670 or from other sources, which are not
otherwise needed to carry out the Commission’s redevelopment projects. Interest shall
.
Cooperation Agreement
Page 5
6/28/01
be calculated annually by the City for the Commission. The parties agree, however, that
the indebtedness of the Commission to the City created by this Agreement is
subordinate to any pledge of tax increments made in connection with the issuance and
sale of bonds which are or may be issued by the Commission or another public entity
under contract with the Commission.
SECTION 6. INCLUSION IN INSURANCE POLICY
The City agrees to include the Commission within the terms of the City’s
insurance policy at a rate similar to charges made to other departments/districts of the
City.
SECTION 7. REMEDIES
If either party defaults with regard to any of the provisions of this
Agreement, the nondefaulting party shall serve written notice of such default upon the
defaulting party. If the default is not cured by the defaulting party within ninety (90) days
after service of notice of default, or if the default is not commenced to be cured within
thirty (30) days after service of the notice of default and is not cured promptly within a
reasonable period of time after commencement, the defaulting party shall be liable to
the other party for damages caused by such default.
SECTION 8. PRIOR AGREEMENTS
This Agreement constitutes the entire Agreement between the parties
pertaining to the subject matter contained herein, and supersedes all prior and
contemporaneous agreements, representations and understandings of the parties.
SECTION 9. SEVERABILITY
The provisions of this Agreement are severable. If any portion of this
Agreement is held invalid by a court of competent jurisdiction, the remainder of the
Cooperation Agreement
Page 6
6128101
Agreement shall remain in full force and effect unless amended or modified by the
mutual consent of the parties.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be executed as of the day and year first above written.
APPROVED AS TO FORM:
‘City Attorney
APPROVED AS TO FORM:
fl torney to the Commission
Mayor
- City Clerk
CARLSBAD HOUSING AND
REDEVELOPMEMT COMMISSION
Executive Director/Secretary
Cooperation Agreement
Page 7
6128101
-+i I
. I’
1 RESOLUTION NO. 2
2 A RESOLUTION OF THE CARLSBAD HOUSING AND
3 REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING AGREEMENT
4 ESTABLISHING CITY-COMMISSION RELATIONSHIPS.
5 WHEREAS, the Carlsbad Housing and Redevelopment Commission
6 desires to establish certain relationships with the City of
7 Carlsbad;
8. NOW, THEREFORE, BE IT RESOLVED by the Carlsbad Housing and
9 Redevelopment Commission, as follows:
10 1. That the above recitations are true and correct.
11 2. That the Agreement entitled Agreement Between the City
12 of Carlsbad and the Carlsbad Housing and Redevelopment Commission
13 Establishing Certain City-Commission Relationships, is hereby
14 approved and the Executive Director of said Commission is
15 authorized to sign said Agreement for the Commission.
16 PASSED, APPROVED AND ADOPTED by the Carlsbad Housing and
17 Redevelopment Commission at a Regular Meeting thereof, held on
18 the 5th day of February, 1980, by the following vote, to wit:
AYES: Commissioners Packard, Skotnicki, Anear, Lewl;sf;:
NOES: None
ABSENT: None
23
II
.ATTEST:
24
25
36
27
28
(Seal)
f (r. . .
AGREEMENT BETWEEN THE CITY OF CARLSBAD AND THE CARLSBAD.HOUSING AND REDEVELOPMENT COMMISSION ESTABLISHING CERTAIN CITY-COMMISSION RELATIONSHIPS
THIS AGREEMENT is made this 8th Day of February, 1980,
by and between the CITY OF CARLSBAD, CALIFORNIA, '(hereinafter
referred to as "City") and the CARLSBAD HOUSING AND REDEVELOPMENT
COMMISSION (hereinafter referred to as the "Commission").
WITNES'SETH:
NOW, THEREFORE, it is agreed between the parties hereto as
follows:
I. GENERAL
A.
B.
C.
D.
Ordinance: Pursuant to the California Health and
Safety Code Section 34100 'et seq., the Carlsbad City
Council, on October 16, 1979, by Ordinance No. 1223,
declared that there was a need for a Community
Development Commission to function in the City.
Appointment of Members: The City Council by Ordinance
No. 1223 declared itself to be the Commission and such
Council members are serving as Commission members.
Separate Commission: The Commission is and shall remain
as a separate public body, corporation and politic,
exercising governmental functions and performing a public
function of the City.
City-Manager--Executive Director of the Commission: The
City Manager has been appointed as the Executive Director
of .the Commission. As a portion of his duties and
functions, he shall have ultimate day-to-day administra-
tive responsibility to carry out Commission programs and
affairs.
1
, /’
II.
E. Officers, Employees, Agents, Consultants, and Contractors:
The officers of the Commission shall be City officials
as established in the By-Laws of the Commission. The
City Manager, with the approval of the Commission members,
may select, appoint, employ, and contract for such
permanent and temporary consultants, contractors, agents,
and employees as it requires, and determine their
qualifications, duties, benefits and compensation, subject
to the other provisions of this agreement and the law.
CITY SERVICES
A. Services to be Provided: The City, its officers and
employees, shall perform services for the Commission in
carrying out its work in redevelopment and housing. The
Commission shall also have access to the facilities of
the department and offices of the City.
Those City officers and employees who are also appointed
to positions or offices with or related to the Commission
shall perform services for the Commission in a dual
capacity. The City Manager shall perform services in his
capacity as City Manager and also as the Executive
Director of the Commission.
The City Manager and other appropriate City officials and
the Commission shall determine and establish procedures
to be followed in the request for, and the rendering of,
such services.
B. Compensation by the Commission for Services Rendered:
The Commission shall reimburse the City for all costs
incurred by City officers and employees in rendering
services to the Commission and shall be responsible
-2-
-
//
,,/’ .’
.
for retirement of all debts incurred by the Carlsbad
Redevelopment Agency pursuant to Agency Resolution
No. 2. The Commission shall reimburse the City for
all such services performed on an hourly basis at rates
including overhead established by the City Manager.
No City officer or employee shall be paid extra
compensation for any work performed for the Commission
unless such compensation is expressly authorized and
provided for by the City Council.
Method of Payment: Costs under this agreement shall
commence on the date that the services were or are begun,
and shall accrue on the basis established by the City
Manager for the services being performed. The Commission,
however, shall not be responsible for the payment of
accrued costs for services until funds are available to
the Commission for this purpose.
Commission revenues may come from many sources, many of
which may be available to the Commission only for limited
or special purposes. It is exepcted that any funds which
may become available to the Commission for the reimburse-
ment of costs for services rendered by the City will be
used to pay the accrued costs. The Commission shall
reimburse the City for such costs only if funds become
available.
Once funds become available from which the Commission
may pay costs for services, then all costs theretofore
accrued shall be paid in a time and manner consistent
with the needs of the Commission.
-3-
/
111. OFFICES
The principal office .of the Commission shall be located in the
The City Hall of the City of Carlsbad. The City agrees to lease
to the Commission necessary and ample space for business offices
and meeting rooms of the Commission. Said space shall also
include use of the City Council Chambers for meetings of the
Commission. Leases for such purposes shall be entered into
from time-to-time as separate space is needed by the
Commission.
Said space shall be used in accordance with the rules and
regulations of the City as applicable to other-buildings
and offices of the City. Commission revenues may come from
many sources, most of which are available to the Commission
only for limited and special purposes. Any funds which may
become available to the Commission for the payment of rent
shall pay the rent only if funds become available for such
IV.
V.
purposes.
BY-LAWS AND REGULATIONS
The Commission members have adopted and will adopt By-Laws
and other regulations to carry into effect the powers, purposes
and functions of the Commission and to establish policies of
the Commission members for the guidance of the City Manager
serving as Executive Director.
The Commission shall supply such information and reports to
the City as may be required.
CITY RESPONSIBILITIES
A. City Aid and Assistance: The City will aid and cooperate
in the planning, undertaking, construction or operation
’ 1.
. . ’ . . .
. * .
B.
t t.
of redevelopment and housing projects within the City
as permitted by applicable statute.
Administrative Fund: The City will establish such funds
as necessary and appropriate with money appropriated by
the City Council to'the Commission as a loan to be
repaid upon such terms and conditions as the, City Council
may provide.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement on the day. and year first above written.
22
RONALD C. PACKARD, Mayor
CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION
z&W FRANK D. ALESHIRE, Executive Director
ATTEST:
c -5-