1991-052-Appropriating Additional Funds To Mid-Peninsula Housing Coalition For The Acquisition Of The Property On Knowles Drive For A Low Income Housing Development And Rescinding Resolution 1990-247RESOLUTION 1991-52
RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF LOS GATOS
APPROPRIATING ADDITIONAL FUNDS TO MID -PENINSULA HOUSING
COALITION FOR THE ACQUISITION OF THE PROPERTY ON
KNOWLES DRIVE FOR A LOW INCOME HOUSING DEVELOPMENT
AND RESCINDING RESOLUTION 1990-247
RESOLVED, by the Town Council of the Town of Los Gatos,
County of Santa Clara, State of California, that the Town of Los
Gatos will provide Mid -Peninsula Housing Coalition the sum of three
hundred three thousand eight hundred ninety-six dollars ($303,896),
drawn from CDBG funds and fifty-one thousand one hundred seventy-
nine dollars ($51,179) drawn from BMP funds for a total of three
hundred fifty-five thousand seventy-five dollars ($355,075) for a
low-income housing development. Three hundred thousand dollars
($300,000) of the total shall be used as part of a down payment for
the acquisition of the property; the balance of fifty-five thousand
seventy-five dollars ($55,075) shall be used to pay Town planning
application and building permit taxes. Any balance will be used
to offset the cost of traffic impact fees.
FURTHER RESOLVED, that Resolution 1990-247 be rescinded.
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PASSED AND ADOPTED at a regular meeting of the Town
Council of the Town of Los Gatos, California, held on the 1st day
of April, 1991, by the following vote:
COUNCIL MEMBERS:
AYES: Randy Attaway, Steven Blanton,
Mayor Brent N. Ventura
NAYES:
ABSENT:
ABSTAIN:
ATTEST:
None
Joanne Benjamen, Eric D. Carlson
None
SIGNED:
r
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
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MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
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