RESOLUTION NO. _____________

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

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RESOLUTION AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT WITH PENISULA HABITAT FOR HUMANITY IN THE AMOUNT OF $250,000 TO ASSIST WITH THE DEVELOPMENT OF AFFORDABLE OWNERSHIP HOUSING IN THE CITY OF SOUTH SAN FRANCISCO FOR THE TERM OF JULY 1, 2006 THROUGH DECEMBER 31, 2008, AND AUTHORIZING THE DIRECTOR OF THE DEPARTMENT OF HOUSING TO EXECUTE SUBSEQUENT AMENDMENTS TO THE LOAN AGREEMENT, AND TO MAKE MINOR MODIFICATIONS IN THE TYPES OF SERVICES AND ACTIVITIES PROVIDED UNDER THE LOAN 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, WHEREAS, Peninsula Habitat for Humanity, hereinafter referred to as "Contractor" applied for funding assistance for the development of ownership housing in the City of South San Francisco; and

WHEREAS, on May 4, 2004, the Board of Supervisors approved the CDBG/ ESG/HOME funding for FY 2004-05, which included funding for this purpose; and

WHEREAS, both parties now wish to enter into an Agreement in the amount of $250,000 to assist with the development of affordable ownership housing in the City of South San Francisco for the term of July 1, 2006 through December 31, 2008; and

WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance, a Loan Agreement between the County of San Mateo 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 Loan 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 be, and hereby is, authorized to execute subsequent amendments to the loan agreement, and to make minor modifications in the types of services and activities provided under the loan agreement, the cumulative cost of which amendments and modifications is not to exceed $25,000.

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