HomeMy WebLinkAbout1980-111-B CRA
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RESOLUTION NO. 80-lll-B
A RESOLUTION OF THE REDEVELOPMENT COMMISSION
OF THE CITY OF SANTA ANA APPROVING COMMERCIAL
REHABILITATION LOAN COMMITMENTS TO DAVID K.
FLAHERTY AND LEVA J. FLAHERTY.
WHEREAS, by Resolution No. 79-61 of the Community
Redevelopment Agency of the City of Santa Ana, the Redevelopment
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. 80-81 of the said
Agency, the Executive Director of the Agency is authorized
to sign all documents necessary to implement the Commercial
Rehabilitation Participation Agreement between the Agency
and DAVID K. FLAHERTY AND LEVA J. FLAHERTY; and
WHEREEAS, a commitment by the Agency to make a
permanent loan for the financing of commercial rehabilitation
is a necessary document in the implementation of each of the
abovesaid Commercial Rehabilitation participation Agreements;
NOW THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT COMMISSION OF THE CITY OF SANTA ANA AS FOLLOWS:
A loan commitment to DAVID K. FLAHERTY AND LEVA J.
FLAHERTY 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, subject to an interest rate of 10.3125 % and a monthly
installment payment of $ 2,676.ll
ADOPTED this 28th day of OctobeJ:
following vote:
,1980, by the
AYES:
MEMBERS: Godinez, Hill, Jessee, Kane, Nalle,
Newcomb
MEMBERS: None
NOES:
ABSENT:
MEMBERS: Co il
ATTEST:
QJÛ¿J~
DAVID N. REAM
EXECUTIVE SECRETARY/
RECORDING SECRETARY
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