RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AUTHORIZING SUBMISSION OF AN APPLICATION TO THE CALIFORNIA HOUSING FINANCE AGENCY FOR THE HOUSING ENABLED BY LOCAL PAPTNERSHIPS (HELP) LOAN PROGRAM AND AUTHORIZING THE DIRECTOR OF THE DEPARTMENT OF HOUSING TO EXECUTE DOCUMENTS AND TO TAKE OTHER ACTIONS AS NECESSARY TO FACILITATE THE APPLICATION

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, on May 3, 2005, the Board of Supervisors approved $500,000 to assist in predevelopment activities for the BRIDGE Colma Transit Village Apartments (“Project”) as part of the Board’s approval of the County’s F 05-06 Action Plan to the U.S. Department of Housing and Urban Development for Community Development Block Grant funds; and

WHEREAS, the Project is a major undertaking involving an anticipated 170 units on a site near the Colma BART Station; and

WHEREAS, the California Housing Finance Agency (“CalHFA”) has announced the availability of approximately $10 million in its HELP Loan Program to support affordable housing opportunities through local partnerships ; and

WHEREAS, BRIDGE is seeking up to $1.5 million through HELP to leverage County funding; and

WHEREAS, the HELP Loan Program requires that the applicant be a local government agency;

NOW, THEREFORE, IT IS HEREBY RESOLVED that:

1. The Director of the Department of Housing (“Director”) is hereby authorized to submit an application to CalHFA for up to $1.5 million from the HELP Loan Program; and

2. The Director is authorized and directed to execute documents and to take other actions as necessary to facilitate the application.

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