HomeMy WebLinkAboutA009 - Resolution No. 91-356 adopted September 24, 1991 RESOLUTION NO. 91-356
RESOLUTION AUTHORIZING ASSURANCE TO HUD
FOR PUBLIC IMPROVEMENTS FOR COOPER'S SECOND SUBDIVISION
WHEREAS an elderly g housin project called Stonehaven, to
be located
in Cooper's Second Subdivision, is to be financed by a direct loan from the
U. S. Department of Housing and Urban Development; and
WHEREAS, as a condition of this financing, HUD requires assurance
that certain public improvements be completed before occupancy of the
elderly housing project is permitted; and
WHEREAS, completion of these improvements has been secured by a
Letter of Credit issued by Firstar Bank to the benefit of the City of Ames;
and
WHEREAS, the developers have executed an instrument waiving any
right to occupy or seek occupancy of the premises until the required
improvements are completed to City satisfaction.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Ames, Iowa, that a Guaranty and Assurance for Site Improvements for
Stonehaven Elderly Housing Project, located in Cooper's Second Subdivision
is hereby approved as attached hereto and made a part hereof by this
reference.
ADOPTED THIS 24th day of September, 1991.
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Nanc Dioni City Clerk Larry R. Yurtis, Mayor
Introduced : Hoffman
Seconded by: Brown
Voting aye: Brown, Campbell, Hoffman, and Parks
Voting nay: None Absent: Hertz and Wirth
Resolution declared adopted and signed by the Mayor this 24th day of
September, 1991.