HomeMy WebLinkAbout1980-120 CRA
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REL: jd
11/21/80
RESOLUTION NO. 80-120
A RESOLUTION OF THE REDEVELOPMENT COMMISSION
OF THE CITY OF SANTA ANA APPROVING COMMERCIAL
REHABILITATION LOAN COMMITMENT TO HORTON
BUILDING PARTNERSHIP
WHEREAS, by Resolution No. 79-61 of the Community
Redevelopment Agency of the City of Santa Ana, the Redevel-
opment Commission of the City of Santa Ana was directed and
authorized to supervise the Agency staff in the implementation
of the Major Commercial Rehabilitation Loan Program; and
WHEREAS, by Resolution No. 80-80 of the said Agency,
the Executive Director of the Agency is authorized to sign
all documents necessary to implement the Commercial Rehabili-
tation Participation Agreement between the Agency and HORTON
BUILDING PARTNERSHIP; and
WHEREAS, a commitment by the Agency to make a permanent
loan for the financing of commercial rehabilitation is a
necessary document in the implementation of the abovesaid
Commercial Rehabilitation Participation Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT COMMISSION OF THE CITY OF SANTA ANA AS FOLLOWS:
A loan commitment to HORTON BUILDING PARTNERSHIP in
the form set forth in Exhibit A, attached hereto and ,incorporated
herein by reference, is hereby approved, and the Executive
Director is authorized to execute the same.
ADOPTED this 25th day of November
by the following vote:
, 1980
AYES:
MEMBERS:Coi1,Hi11,Jessee,Kane,Na11e
NOES:
MEMBERS: None
ABSENT:
MEMBERS: Godinez, Newcomb
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ATTEST:
Q~,~
DAVID N. REAM
EXECUTIVE SECRETARY/
RECORDING SECRETARY
APPROVED AS TO FORM:
LLc.-J £. ~ ~þ-
EDWARD J. C PER
, Agenc~Lega1 Counsel
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