HomeMy WebLinkAbout3814 Resolution RESOLUTION NO.2Y>/`t---
RESOLUTION OF THE PASCO CITY COUNCIL AUTHORIZING THE SUBMISSION
OF APPLICATION AND AGREEMENT TO CERTIFICATIONS TO THE US DEPARTMENT
OF HOUSING AND URBAN DEVELOPMENT FOR SECTION 108 LOAN GUARANTEE
PROGRAM
WHEREAS,the City of Pasco has identified opportunities for redevelopment consistent with the
CDBG Entitlement and Section 108 Loan Guarantee programs;and
WHEREAS,public hearings were held on December 21,2017 and January 16,2018 to discuss
community and economic development and housing needs,and
WHEREAS, Section 108 loan funds will be used for the redevelopment of the Pasco Farmers
Market,Peanuts Park and related infrastructure. The projected loan amount for the first project is
$2,500,000,subject to HUD eligibility and underwriting;and
WHEREAS,the City Manager is the designated Certifying Official,authorized to sign and
submit applications and certifications to the U.S.Department of Housing and Urban Development on
behalf of the City of Pasco and to act on behalf of the City of Pasco in regard to the applications,and to
provide such additional information as may be required.
Now,THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO:
Authorizes an application to HUD be submitted in the City of Pasco's name for$3.475 million in
Section 108 loan funds to be used for redevelopment activities that benefit low-and moderate-income
persons.
PASSED by the City Council of the City of Pasco this Kith day of.J4NUAky( ,2018
Matt Watkins
Mayor
A EST: �� APPROVED AS TO FORM:
L/ `
Daniela Erickson Leland B.Kerr
City Clerk City Attorney