2003 AGN FEB 18 I10 - Laserfiche WebLink

Browse Search

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2r 2( 2'j T RESOLUTION NO. 765 RESOLUTION OF THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON AUTHORIZING THE REDEVELOPMENT DIRECTOR TO EXECUTE CERTAIN DOCUMENTS IN CONNECTION WITH THE SALE OF AGENCY LOTS IN RANCHO MEDITERRANIA, IN CONNECTION WITH THE MORTGAGE ASSISTANCE PROGRAM AND IN CONNECTION WITH THE ACQUISITION, REHABILITATION AND RESALE PROGRAM WHEREAS, the Redevelopment Agency for the City of Colton (the "Agency") is a public body, corporate and politic, organized and existing pursuant to the Community Redevelopment Law of the State of California, commencing with Section 33000 of the California Health and Safety Code; and WHEREAS, the Agency is engaged in efforts to promote the availability of affordable housing in the City of Colton; and WHEREAS, in an effort to sell to prospective purchasers lots owned by the Agency in Rancho Mediterrania ("Agency Lots"), the Agency has undertaken and will undertake certain activities, programs and agreements (collectively, the "Agency Lot Sales Program"); and WHEREAS, in connection with the Agency Lot Sales Program, the Agency has determined that it will make available financing as necessary to enable prospective purchasers to acquire Agency Lots (the "Agency Lot Financing Program"), such financing to be funded by California Housing Finance Agency monies and to be evidenced by promissory notes signed by the prospective purchasers ("Promissory Notes") and secured by deeds of trust on the Agency Lots being purchased ("Deeds of Trust"); and WHEREAS, the Agency Lot Sales Program and the Agency Lot Financing Program involve the execution and delivery of certain documents by the Agency, including purchase contracts, grant deeds, bills of sale with respect to manufactured homes situated on Agency