RESOLUTION NO. _____________
BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA
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RESOLUTION AUTHORIZING 1) EXECUTION OF AN AGREEMENT WITH BAY ROAD HOUSING LIMITED PARTNERSHIP TO ASSIST WITH THE DEVELOPMENT OF COURTYARD AT BAY ROAD, AN AFFORDABLE RENTAL HOUSING PROJECT IN EAST PALO ALTO, AND 2) THE DIRECTOR OF THE HUMAN SERVICES AGENCY EXECUTE SUBSEQUENT AMENDMENTS AND MINOR MODIFICATIONS NOT TO EXCEED $25,000 PER FUNDING SOURCE
RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that
WHEREAS, on May 6, 2003, the Board of Supervisors approved the CDBG and HOME funding for FY 2003-04, which included funding for this activity; and
WHEREAS, the County desires to provide funding support to Contractor by obligating $1,000,000 in Community Development Block Grant funds (CDBG) and HOME Funds for the development of an affordable rental housing project; and
WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance, an Agreement between the County of San Mateo and Bay Road Housing Limited Partnership for the development of Courtyard at Bay Road, an affordable rental housing project located at 1740 Bay Road, East Palo Alto, consisting of 74 units, and the Board of Supervisors has examined and approved the same as to form and content and desires to enter into the same.
NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors be, and is hereby authorized and directed to execute said Agreement for and on behalf of the County of San Mateo, and the Clerk of this Board shall attest the President's signature thereto.
BE IT IS FURTHER RESOLVED, that the Director of the Human Services Agency or her designee shall be authorized to execute subsequent amendments and minor modifications to this Agreement during the term of the Agreement, provided however, that such authority is limited to (a) reducing or increasing the County's maximum fiscal obligation in the event that there is a commensurate reduction or increase in funding received by the County, provided however, that such increases shall be limited to a total of $25,000 per funding source; and (b) making changes in the type of services and activities provided by Contractor and other minor modifications provided that the changes have no impact on the County's maximum fiscal obligation to the Contractor.
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