HomeMy WebLinkAboutReso 2016-138 - HUD RESOLUTION NO. 2016-138
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO
EXECUTE AND SUBMIT AN APPLICATION TO THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR
FUNDING UNDER THE SECTION 108 LOAN GUARANTEE PROGRAM;
AND, IF APPROVED, THE EXECUTION OF AN AGREEMENT, ANY
AMENDMENTS THERETO, AND ANY RELATED DOCUMENTS
NECESSARY TO PARTICIPATE IN THE SECTION 108 LOAN
GUARANTEE PROGRAM
WHEREAS, Section 108 of the Housing and Community Development Act of 1974
provides for a loan guarantee component of the Community Development Block Grant (CDBG)
Program; and
WHEREAS, the United States Department of Housing and Urban Development (HUD)
has established the Section 108 Loan Guarantee (Section 108) Program which provides
communities with a source of financing for economic development, housing rehabilitation, public
facilities, and other physical development projects, including improvements to increase their
resilience against natural disasters. The funds can be used by a designated public entity to
undertake eligible projects, or, alternatively, can be loaned to a third party developer to undertake
the projects; and
WHEREAS, the City of Redding, a municipal corporation and general law city, is
designated by HUD as an Entitlement Jurisdiction and meets the criteria to participate in the
Section 108 Program as a Grantee; and
WHEREAS, the City Council has identified Section 108 Program funding and objectives
in its 2015-19 Consolidated Plan; and
WHEREAS, the City Council held a public hearing and adopted Resolution 2016-058 G
accepting the 2016-17 Annual Action Plan; and
WHEREAS,the 2016-17 Annual Action Plan identified Section 108 Program funding as a
potential funding resource to support projects in the Downtown Redding Target Area as identified
in the Section AP-50 of the 2015-19 Consolidated Plan; and cc
WHEREAS, the City of Redding wishes to submit an application to HUD to obtain
Section 108 Program funds in the amount of $2,100,000 to assist with the development of the
Redding Downtown Loop and Affordable Housing Project.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE
CITY OF REDDING HEREBY authorizes an application be submitted to HUD for a Section
108 Program in the amount of $2,100,000 to be used for the Downtown Redding Loop and
Affordable Housing Project.
BE IT FURTHER RESOLVED that upon approval of the Section 108 Program
application for funding, the City of Redding hereby agrees to use the Section 108 Program funds
for eligible activities in the manner presented in the application as approved by HUD and in
accordance with Section 108 Program regulations.
BE IT FURTHER RESOLVED that the City Council of the City of Redding authorizes
the City Manager, or his designee, to execute in the name of the City of Redding, the application
and all other documents required by HUD for participation in the Section 108 Program, and any
amendments thereto.
I HEREBY ATTEST AND CERTIFY that the foregoing resolution was introduced and
read at a regular meeting of the City Council of the City of Redding on the 20`h day of December,
2016, and was duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBER: McElvain, Schreder, Sullivan, Winter, & Weaver
NOES: COUNCIL MEMBER: None
ABSENT: COUNCIL MEMBER: None
ABSTAIN: COUNCIL MEMBER: None
BRENT WEA K, Mayor
ATTEST: APPROVED AS TO FORM:
C. J i t i Ji d1' L-'
PAMELA MIZE, City Clerk ARRY DeW , City Attorney