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<br />TTACHMENT A <br />A <br /> <br />RESOLUTION NO. ___ <br />A RESOLUTION AUTHORIZING SUBMISSION OF AN <br />APPLICATION TO UNITED STATES DEPARTMENT OF <br />HOUSING AND URBAN DEVELOPMENT FOR LOAN <br />GUARANTEE ASSISTANCE AND RELATED MATTERS. <br />The City Council of the City of Eugene, Oregon (the "City") finds that: <br />A. <br /> The City of Eugene is one of only eleven communities in the United States to be approved <br />for a Brownfields Economic Development Initiative grant from the United States Department of <br />Housing and Urban Development (“HUD”). The grant is in the amount of $2,000,000. <br />B. <br /> To obtain the grant the City must also apply for and receive loan guarantee assistance from <br />HUD under 24 CFR 570.700 to 570.710 and the related laws and regulations (the “HUD Loan <br />Guarantee Assistance Rules”). The guaranteed loan is expected to be in the amount of approximately <br />$7,895,000. <br />C. <br />The City adopts this resolution to approve and authorize submission of an application for <br />loan guarantee assistance under the HUD Loan Guarantee Assistance Rules. <br />NOW, THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, <br /> as follows: <br /> <br />Section 1. Official Representative Designated. <br />The City Manager or the person designated in <br />writing by the City Manager to act under this Resolution (the "City Official") is hereby authorized to <br />serve as the official representative of the City of Eugene in connection with the application for and <br />receipt of loan guarantee assistance from HUD under the HUD Loan Guarantee Assistance Rules in an <br /> <br />amount of not more than $8,000,000. <br /> <br />Section 2. Application and Related Actions Authorized. <br />On behalf of the City and without <br /> <br />further action by the City Council, the City Official is hereby: <br />A. Authorized to submit an application for loan guarantee assistance and any and all <br />amendments thereto and all understandings and assurances contained therein. <br />B. Directed and authorized to act in connection with the application to provide such <br />additional information as may be required. <br /> <br /> L:\CMO\2006 Council Agendas\M060313\S0603133C.doc <br /> <br />