RESOLUTION NO. _____________

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

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RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT BY AND BETWEEN THE COUNTY OF SAN MATEO, THE CITY OF REDWOOD CITY AND FIRST COMMUNITY HOUSING PROVIDING $500,000 OF COUNTY HOME FUNDS AND AN ADDITIONAL $200,000 OF REDWOOD CITY FUNDS TO ASSIST WITH THE DEVELOPMENT OF AFFORDABLE HOUSING FOR A TERM STARTING FROM THE DATE OF THIS RESOLUTION AND CONTINUING THROUGH DECEMBER 31, 2006, AND AUTHORIZING THE DIRECTOR OF THE DEPARTMENT OF HOUSING TO EXECUTE SUBSEQUENT AMENDMENTS TO THE AGREEMENT, AND TO MAKE MINOR MODIFICATIONS IN THE TYPES OF SERVICES AND ACTIVITIES PROVIDED UNDER THE AGREEMENT, THE CUMULATIVE COST OF WHICH AMENDMENTS AND MODIFICATIONS IS NOT TO EXCEED $25,000.

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

WHEREAS, FIRST COMMUNITY HOUSING (“Contractor”) applied for funding assistance for the development of 58 units of affordable rental housing units; and

WHEREAS, on May 3, 2005, the Board of Supervisors approved the CDBG/ESG/ HOME funding for FY 2005-06, which included $500,000 of HOME funding for this purpose; and

WHEREAS, on May 9, 2005, the City Council of the City of Redwood City approved CDBG funding for FY 2005-06 which included $200,000 funding for this purpose; and

WHEREAS, on January 24, 2005, the Redevelopment Agency Board of the City of Redwood City approved a Development and Disposition Agreement (RDA Resolution 13624) recorded in the Office of the County Recorder on August 17, 2005 as document 2005-141296, hereinafter referred to as “the DDA”, and by this reference made a part hereof as if contained in its entirety, committing a subsidy of Redevelopment Agency Housing Set-aside Funds in the amount of $1,927,000; and

WHEREAS, it is necessary and desirable that Contractor be retained for the purpose of development of affordable rental housing; and

WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance, an Agreement by and between the County of San Mateo, City of Redwood City and Contractor, reference to which is hereby made for further particulars, 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 RESOLVED 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 FURTHER RESOLVED, that the Director of the Department of Housing shall be authorized to execute subsequent amendments and modifications to said 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, provided, however that such increases shall be limited to a total of $25,000; and (b) making changes in the types of services and activities provided by Contractor, provided that the changes have no impact on the County’s maximum fiscal obligation to Contractor.

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