1981-081-Accept A Proposal For Assisted Housing As Presented By Mid-Pensula Coalition Housing FundRESOLUTION NO. 1981 -81
A RESOLUTION OF THE TOWN COUNCIL OF THE
TOWN OF LOS GATOS TO ACCEPT A PROPOSAL
FOR ASSISTED HOUSING AS PRESENTED BY
MID- PENINSULA COALITION HOUSING FUND
RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF LOS GATOS THAT:
1. The Council accepts the proposal by Mid- Peninsula Coalition Housing
Fund (developer) for exploring financing of the project which consists of
moving a Town -owned four -unit apartment building from Villa Avenue to a Town -
owned lot at Wilder Avenue and Nicholson Avenue, the rehabilitation of said
building and the promise to restrict future occupancy of the building to low
income senior citizens.
2. This acceptance is limited to a period not to exceed 60 days from
the date of this resolution. During this period developer has the exclusive
right to determine the feasibility of the project by obtaining cost estimates,
financing commitments, and seeking approval of rent supplement for the project
by HUD.
3. Acceptance of this proposal does not obligate the Town for any costs
incurred by the developer before or during the 60 -day period.
PASSED AND ADOPTED by the Town Council of the Town of Los Gatos at a
regular meeting held this 6th day of April, 1981, by the following vote:
AYES: COUNCIL MEMBERS Ruth Cannon, NlarLyn J. Rasmussen, Peter W.
Siemens, Brent N. Ventura and Thomas J. Ferrite
NOES: COUNCIL MEMBERS None
ABSTAIN
ABSENT:
ATTEST:
COUNCIL MEMBERS None
COUNCIL MEMBERq None
SIGNED:
CLERK OF THE TOWN -OF LOS OS
4 /7 /81 /oh