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9 10 11 12 13 14 15 15 17 18 19 20 21 22 23 25 27 29 30 31 32 il 2 3 4 5 6 RESOLUTION NO. 13990 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, CALIFORNIA, APPROVING THE TRANSFER OF CO~iMUNITY DEVELOPMENT BLOCK GRANT FUNDS AND UDAG FUNDS TO THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AI~ AUTHORIZING THE EXECUTION OF AN AGREEMENT BE~4EEN THE CITY AND THE AGENCY RESPECTING THE USE 0F SUCH FUNDS. ~EREAS the United States Department of Housing and Urban Development hereinafter referred to as "HERD", requires that the City of Riverside, herein- after referred to as the "City", transfer certain Community Development Block Grant funds and certain UDAG funds to the Redevelopment Agency, hereinafter referred to as the "Agency"; and I.tEREAS HUD further requires that the City and the Agency enter into contract specifying the terms, conditions and use of said grant funds. NOW, TtIEREFORE, BE IT RESOLVED by the City Council of the City of Riverside, California; 1. Authorizes the transfer of $100,000 of Community Development Block Grant funds and $98,750 of UDAG funds to the Agency for acquisition of the site for the ttartz Mountain Corporation development and the transfer of the remaining balance of $276,121 in UDAG funds to the Agency to fund the remainder of the UDAG funded activities; and 2. Authorizes execution of the Agreement, attached hereto as Exhibit A, between the City and the Agency, specifying the terms, conditions and use of said Community Development Block Grant and UDAG funds. ~)OPTED by the City Council and signed by the Mayor and attested by the City Clerk this 22nd day of January , 1980. /..,. ,>--- of theR ve ide Attest: City Clerk of the City of Riverside