RESOLUTION NO. _____________

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

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RESOLUTION AMENDING THE FY 05-06 ACTION PLAN TO THE SAN MATEO COUNTY COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM AND AUTHORIZING SUBMISSION OF AN APPLICATION TO HUD FOR SECTION 108 LOAN GUARANTEE FUNDS FOR THE COLMA TRANSIT VILLAGE APARTMENTS

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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, by Resolution No. 067281 approved the FY 05-06 Action Plan which enumerated projects and programs to be funded with federal funds, including the Community Development Block Grant Program; and

WHEREAS, Section 108 is a loan guarantee program of the Community Development Block Grant Program that provides local communities with augmented financing for housing and community activities; and

WHEREAS, BRIDGE Housing Corporation, through an affiliate nonprofit, BRIDGE Regional Partners, has requested that the County apply for Section 108 Loan Guarantee funds to assist the development of Colma Transit Village, consisting of 130 units of affordable housing (“Project”), next to the Colma BART Station; and

WHEREAS, the Section 108 loan funds will be used specifically to assist in land acquisition and relocation, the latter which will be accomplished in conformance with State and federal relocation laws; and

WHEREAS, the above-mentioned uses are eligible uses of the Section 108 Program.

NOW, THEREFORE, IT IS HEREBY RESOLVED that the Board of Supervisors hereby (1) amends the FY 05-06 Action Plan to include Section 108 funding for the development of the Colma Transit Village Apartments; (2) authorizes submission of an application for Section 108 Loan Guarantee funds to assist the Project; and (3) authorizes the Director of the Department of Housing to execute documents in connection with the Section 108 loan program.

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