HomeMy WebLinkAbout1980-091 CRA
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RESOLUTION NO. 80-91
A RESOLUTION OF THE REDEVELOPMENT
COMMISSION OF THE CITY OF SANTA ANA
APPROVING COMMERCIAL REHABILITATION
LOAN COMMITMENTS TO WARREN K. VAN
INGEN, ET AL,
WHEREAS, by Resolution No, 79-6l 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 Warren K. Van Ingen, Pete Van Ruiten and Mary Van Ruiten;
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 Cormnercial Rehabilitation Participation Agreements;
NOW THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT CŒ~ISSION OF THE CITY OF SANTA ANA AS FOLLOWS:
A loan commitment to Warren K. Van Ingen, Pete Van
Ruiten, and Mary Van Ruiten 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 8.1125 %
and a monthly installment payment of $7,792.84
ADOPTED this 22nd day of
by the following vote: -----
July
, 1980,
AYES:
MID{BERS: Coil, Hill, Jessee, Kane, Nalle, Newcomb
NOES:
MEMBERS: None
ABSENT:
ME14BERS: God inez
ATTES~~ ~
DAVID N. REAM
EXECUTIVE DIRECTOR/
RECORDING SECRETARY
APPROVED AS TO FORM:
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