HomeMy WebLinkAboutResolutions - No. 2007-218RESOLUTION NO. 2007-218
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING THE
REALLOCATION OF AVAILABLE COMMUNITY DEVELOPMENT
BLOCK GRANT AND HOME PROGRAM INCOME FOR
AN AFFORDABLE HOUSING PROJECT
WHEREAS, a total of $330,000 in Community Development Block Grant (CDBG) funds
was allocated toward land acquisition for an affordable housing project as part of the 2006-07
annual allocation of CDBG/HOME Programfunding; and
WHEREAS, the City of Lodi has pledged to provide a total of $1.2 million toward the
acquisition of land for a proposed affordable housing project; and
WHEREAS, on October 3, 2007, the Lodi City Council selected a developer for the
proposed affordable housing project and has subsequently authorized the City Manager to enter
into negotiations with Union Pacific Railroad (UP) for acquisition of land for this project; and
WHEREAS, the City of Lodi has a balance of program income available in the Housing
Assistance Program from previous down -payment assistance and housing rehabilitation loans
that have been paid back in the past few years.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the reallocation of $863,343.18 in available CDBG and HOME Program income, as
indicted below, to project LOD 06-11:
CDBG Home Rehab
$388,243.20
CDBG GAP
$62,157.16
HOME Rental Rehab
$29,863.91
HOME Habitat
$119,403.91
HOME Other
$263.675.00
TOTAL
$863,343.18
BE IT FURTHER RESOLVED that these funds, along with the previously allocated
$330,000, will be used for the acquisition of land for an affordable housing project.
Dated: November 7, 2007
hereby certify that Resolution 2007-218 was passed and adopted by the Lodi City
Council in a regular meeting held on November 7, 2007, by the following vote:
AYES: COUNCIL MEMBERS — Hansen, Hitchcock, Katzakian, Mounce, and
MayorJohnson
NOES: COUNCIL MEMBERS— None
ABSENT: COUNCIL MEMBERS— None
ABSTAIN: COUNCIL MEMBERS —None
NIFER PERRIN
eputy City Clerk
2007-218