pages: CityCouncil/2008-05-06.pdf, 24
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CityCouncil | 2008-05-06 | 24 | Housing. The Development Services Director gave a brief presentation. Vice Mayor/Commissioner Tam stated the staff report indicated that the City allowed a very limited number of adjustable, but amortizing loans that could not go negative for the Bayport project; inquired whether there have been any poor experiences with the adjustable loans. The Development Services Director responded in the negative. Councilmember/Commissioner Matarrese stated that he appreciates staff brining the item forward; there is no action at the State or federal level. Councilmember/Commissioner Matarrese moved approval of the staff recommendation. Vice Mayor/Commissioner Tam seconded the motion. Under discussion, Mayor/Chair Johnson stated the fact that the City has not had any foreclosures is indicative of the rational, high quality way the City has addressed the issue. On the call for the question, the motion carried by unanimous voice vote - 5. ADJOURNMENT There being no further business, Mayor/Chair Johnson adjourned the Special Joint Meeting at 8:08 p.m. Respectfully submitted, Lara Weisiger City Clerk Secretary, Community Improvement Commission The agenda for this meeting was posted in accordance with the Brown Act. Special Joint Meeting Alameda City Council, Community 3 Improvement Commission, and Housing Authority Board of Commissioners May 6, 2008 | CityCouncil/2008-05-06.pdf |