HomeMy WebLinkAbout1984-09 CRA
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RESOLUTION NO. 84-9
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A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY AUTHORIZING THE EXECUTIVE DIRECTOR
AND THE DIRECTOR OF COMMUNITY DEVELOPMENT
TO EXECUTE LOAN AGREEMENTS ON BEHALF OF
THE AGENCY PURSUANT TO THE DIRECT
COMMERCIAL LOAN PROGRAM
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana ("Agency"), on August 1, 1983, authorized
Agency staff to implement a "Direct Commercial Rehabilitation
Loan Program" within the redevelopment project areas of the
City of Santa Ana and approved certain credit criteria and
terms and conditions for the funding of loans under that
Program, and
WHEREAS, the Agency is now prepared to enter into
loan agreements with borrowers under the said Program;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA that the Execu-
tive Director of the Agency and the Community Development
I Director of the Ci ty of Santa Ana are each authorized to enter
into loan agreements on behalf of the Agency between the Agency
and borrowers under the abovesaid "Direct Commercial Rehabil-
itation Loan program," upon the determination by either such
officer that the loan agreement complies with the credit
criteria, terms and conditions approved by the Agency and is
otherwise consistent with the best interests of the Agency.
ADOPTED this ~ day of
ADril
,1984.
AYES: MEMBERS:
NOES: MEMBERS:
ABSENT: MEMBERS:
Acosta, Griset, Johnson, Luxembourger,
McGuigan, Young
None
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'Rex S son, Executive
DirectorlRecording Secretary
Bricken ~
4j. uxe o~¿~
Mayor
APPROVED AS TO FORM:
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