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CRA - 17RESOLUTION NO. CRA-17 A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY DECLARING ITS INTENTION TO PROCEED WITH ACTIONS TO SUPPORT THE SUBMITTAL OF A PRELIMINARY APPLICATION FOR FUNDING UNDER THE FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 202/8 PROGRAM BY MAKING AVAILABLE CERTAIN MONIES FOR PROJECT AMENITIES. WHEREAS, there is a shortage of affordable housing for the low and moderate income elderly of the Cypress area; and WHEREAS, the shortage of affordable housing has forced many of the elderly into substandard living conditions; and WHEREAS, the Redevelopment Agency of the City of Cypress has a responsibility to assist where possible in the provision of decent, safe and affordable housing of the elderly; and WHEREAS, the nonprofit co-sponsors, National Church Residences and Affordable Development CorPoration, require certain assistance and support from the Redevelopment Agency of the City of Cypress, in order to attract a funding commitment from the Federal Department of Housing and Urban Development. NOW, THEREFORE, the Cypress Redevelopment Agency DOES HEREBY RESOLVE as follows: Section 1. RECITALS. That the above recitals are true and correct. Section 2. SUPPORT. That the public interest and convenience require, and it is the intention of the Redevelopment Agency of the City of Cypress, to support National Church Residences and Affordable Development Corporation in their efforts to attract the required federal construction and mortgage commitments and rental assistance funding sought under the 202/8 Program. Section 3. FINANCIAL ASSISTANCE. That the public interest and convenience require, and it is the intention of the Redevelopment Agency of the City of Cypress, to make available funds not to exceed $80,000 to be used only after selection for amenities. These amenities are only to include balconies, patios and a tile roof for the project. PASSED AND ADOPTED by the governing body of the Cypress Redevelopment Agency on the 9th day of April 1984. ATTEST: CYPRESS RF, DEVELOPMENT AGENCY CHAIRMAN CYPRESS REDEVELOPMENT AGENCY STAT~ OF CALIFORNIA ) COUNTY OF ORANGE ) SS I, DARRELL ESSEX, Secretary of the Cypress Redevelopment Agency, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of said Agency held on the 9th day of April 1984; by the following roll call vote: AYES: NOES: ABSENT: 5 AGENCY MEMBERS: 0 AGENCY MEMBERS: 0 AGENCY MEMBERS: Coronado, Lacayo, Mullen, Partin, and Kanel None SEC]I~TARY//- CYPRESS REDEVELOPMENT AGENCY