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HomeMy WebLinkAboutResolution No. 408Resolution No. 408 Page 1 of 2 CITY OF MEDINA, WASHINGTON RESOLUTION NO. 408 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MEDINA, WASHINGTON, AUTHORIZING THE DULY-APPOINTED ADMINISTERING AGENCY FOR ARCH TO EXECUTE ALL DOCUMENTS NECESSARY TO ENTER INTO AGREEMENTS FOR THE FUNDING OF AFFORDABLE HOUSING PROJECTS, AS RECOMMENDED BY THE ARCH EXECUTIVE BOARD, UTILIZING FUNDS FROM THE CITY’S HOUSING TRUST FUND. WHEREAS, A Regional Coalition for Housing (ARCH) was created by interlocal agreement to help coordinate the efforts of Eastside cities to provide affordable housing; and WHEREAS, the ARCH Executive Board has recommended that the City of Medina participate in the funding of certain affordable housing projects and programs hereinafter described; and WHEREAS, the ARCH Executive Board has developed a number of recommended conditions to ensure that the City’s affordable housing funds are used for their intended purpose and that projects maintain their affordability over time; and WHEREAS, the City Council has approved the Amended and Restated Interlocal Agreement for ARCH; and WHEREAS, the City Council desires to use $19,050 from City funds as designated below to finance the projects recommended by the ARCH Executive Board; now, therefore, THE CITY COUNCIL OF THE CITY OF MEDINA, WASHINGTON, DOES RESOLVE AS FOLLOWS: Section 1. The City Council authorizes the duly-appointed administering agency of ARCH pursuant to the Amended and Restated Interlocal Agreement for ARCH to execute all documents and take all necessary actions to enter into Agreements on behalf of the City as outlined in Attachment 1: Recommended Projects and Funding Sources for a combined total amount not to exceed $19,050. Section 2. The Agreements entered into pursuant to Section 1 of this resolution shall include terms and conditions to ensure that the City’s funds are used for their intended purpose and that the projects maintain affordability over time. In determining what conditions should be included in the Agreements, the duly-appointed administering agency of ARCH shall be guided by the recommendations set forth in Attachment 1: Recommended Projects and Funding Sources. Resolution No. 408 Page 2 of 2 PASSED BY THE CITY COUNCIL OF THE CITY OF MEDINA ON THE 13th DAY OF JULY 2020 AND SIGNED IN AUTHENTICATION OF ITS PASSAGE THE 13th DAY OF JULY 2020.