Title
Agreement between City of Salinas and Monterey Bay Economic Partnership (MBEP) to Contribute to the Monterey Bay Housing Trust Fund
Recommended Action
It is recommended that the City Council:
1) Approve a resolution authorizing the City Manager to enter into an Agreement with the Monterey Bay Economic Partnership (MBEP) to contribute $500,000 over the next three years to the Monterey Housing Trust Fund; and
2) Allocate an amount not to exceed $500,000 over the next three years through the budgetary process to fund said “Agreement”.