Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-130-86 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON APPROVING THE FINANCING <br />OF A MULTIFAMILY RENTAL HOUSING PROJECT <br />BY THE REDEVELOPMENT AGENCY FOR THE CITY <br />OF COLTON <br />WHEREAS, the Redevelopment Agency for the City of <br />Colton (the "Agency") is authorized pursuant to Chapter 8 <br />(commencing with Section 33000) of Part 1 of Division 24 of the <br />California Health and Safety Code (the "Act") to provide <br />assistance in financing multifamily residential housing <br />developments within the redevelopment project areas; and <br />WHEREAS, Fredricks Development Corporation (the <br />"Developer"), has requested assistance in financing the <br />construction of an approximately 625 -unit multifamily rental <br />housing project proposed to be located at Washington Street and <br />Santo Antonio Drive in Cooley Ranch Redevelopment Project No. 4 <br />in the City of Colton (the "Project"); and <br />WHEREAS, the Agency, in order to encourage and foster <br />the construction of multifamily rental housing development <br />within the City and as an aid and inducement to the Developer, <br />evidenced its intention by its resolution adopted May 15, 1984 <br />to issue its obligations to provide financing for the Project <br />subject to the restrictions of said resolution, the Act and all <br />applicable California and federal laws as they presently exist; <br />and <br />WHEREAS, notice of a public hearing to be conducted by <br />this City Council with respect to the proposed financing of the <br />Project by the Agency was duly published at least 14 days prior <br />to August 19, 1986, in a newspaper of general circulation in the <br />