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<br />2 <br />3 <br /> <br />4 <br /> <br />6 <br />7 <br />8 <br /> <br />9 <br />10 <br /> <br />11 <br /> <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br /> <br />21 <br />22 <br />23 <br />24 <br />25 <br /> <br />26 <br /> <br />27 <br />28 <br /> <br />29 <br /> <br />30 <br /> <br />31 <br /> <br />32 <br /> <br />CITY ATTORNEY <br />RIVERSIDE <br />CALIFORNIA <br /> <br />RESOLUTION NO. 14873 <br /> <br />5 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />RIVERSIDE, CALIFORNIA, INDICATING ITS INTENT TO <br />PROVIDE FOR THE ISSUANCE OF OBLIGATIONS TO PRO- <br />VIDE FINANCING IN CONNECTION WITH THE MULTIFAMILY <br />HOUSING PROJECT PROPOSED BY THE CONCORDIA GROUP, <br />INC.; MR. CLARE TABER; AND TEQMAR PROPERTIES. <br /> <br />WHEREAS, the City Council of the City of Riverside is <br /> <br />authorized pursuant to Chapter 7 (commencing with Section 52075 <br /> <br />of Part 5 of Division 31 of the Health and Safety Code) <br /> <br />(the "Act") and pursuant to the Charter of the City, to provide <br /> <br />financial assistance for multifamily residential developments <br /> <br />within the City; and <br /> <br />WHEREAS, the Concordia Group, Inc.; Mr. Clare Taber; <br /> <br />and Teqrnar Properties (the "Companies") have requested financial <br /> <br />assistance in connection with the construction of the following <br /> <br />projects: <br /> <br />1. 150 unit multifamily rental housing project known <br /> <br />as the Iowa Apartment Ltd. by The Concordia Group, <br /> <br />Inc. proposed to be located in the University of <br /> <br />California area, Riverside, California; <br /> <br />2. 26 unit multifamily rental housing project known <br /> <br />as the Riverside Apartment Ltd. by The Concordia <br /> <br />Group, Inc. proposed to be located at Magnolia Avenue <br /> <br />and Jefferson Street in Riverside, California; <br /> <br />3. 51 unit senior citizen multifamily rental housing <br /> <br />project by Mr. Clare Taber proposed to be located <br /> <br />at Seventh Street (between Ottawa and Dwight Avenues) <br /> <br />in Riverside, California; <br /> <br />4. 8 unit multifamily rental housing project known as <br /> <br />Teqrnar Properties by Mr. James Miller and Mr. James <br /> <br />Davidson proposed to be located in the Mt. Rubidoux <br /> <br />area, Riverside, California; <br /> <br />(hereinafter referred to as the "Projects"); and <br />