HomeMy WebLinkAboutResolutions - No. 2009-109RESOLUTION NO. 2009-109
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING THE
REALLOCATION OF AVAILABLE COMMUNITY DEVELOPMENT BLOCK
GRANTAND HOME PROGRAM INCOMETO EDEN DEVELOPMENT, INC.
FOR AN AFFORDABLE SENIOR 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 $1.1 million toward the
acquisition of land and predevelopmentfinancing for a proposed affordable housing project; and
WHEREAS, on April 1, 2009, the Lodi City Council authorized the City Manager to enter
into negotiations with Eden Development, Inc. in regard to the development of an affordable
senior housing project at 2245 Tienda Drive, Lodi, CA; 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 $1,174,762.33 in available CDBG and HOME Program funding, as
indicted below, to Eden Development, Inc. for an affordable senior housing project in Lodi at
2245 Tienda Drive:
CDBG Allocation
CDBG Program Income
HOME Rental Rehab
HOME Habitat
HOME Other
TOTAL
$ 311,830.72
$ 449,988.79
$ 29,863.91
$ 119,403.91
$ 263,675.00
$1,174,762.33
Dated: August 5, 2009
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hereby certify that Resolution 2009-109 was passed and adopted by the Lodi City
Council in a regular meeting held on August 5, 2009, by the following vote:
AYES: COUNCIL MEMBERS — Hitchcock, Johnson, Katzakian, Mounce, and
Mayor Hansen
NOES: COUNCIL MEMBERS— None
ABSENT: COUNCIL MEMBERS— None
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ABSTAIN: COUNCIL MEMBERS —IS46e
Dl JOHL
City Clerk
2009-109