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CITY OF COLTON <br />AGENDA REPORT <br />for the Meeting of December 2, 1997 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: Len Wood, Interim City Manager o <br />FROM: <br />SUBJECT: <br />DATE: <br />Louis Shepard, Interim Economic Development Director <br />Acquisition and Rehabilitation of 600 unit Casa Del Rio - <br />800 East Washington <br />November 24, 1997 <br />BACKGROUND: <br />Steadfast Properties has applied to San Bernardino County for <br />tax <br />multifamily mortgage revenue and financing for the acquisition and re ab litat opt <br />of the 600 unit Casa Del Rio located at 800 East Washington. n <br />In order for this financing to move forward, the City Council <br />must <br />cooperation agreement with the County. This agreement allows the Countapprove a <br />y <br />on behalf of the City. y to act <br />There is no financial commitment for the Cit <br />RECOMMENDATION: <br />Approve agreement and authorize the Mayor to sign. <br />