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Page 4 of 4 <br />$260,000 (or $247,000) to the City while retaining 5% for its administration costs. The City will <br />have an additional $247,000 of HOME funds it can allocate to other HOME-eligible projects or <br />programs. <br /> <br />Prepared by: Submitted by: Approved by: <br /> <br />Steve Hernandez, Housing <br />Division Program Manager <br />Ellen Clark, Director of Community <br />Development <br /> <br />Gerry Beaudin, City <br />Manager <br /> <br />Attachments: <br />1. Resolution Promenade Assignment Assumption Ground Lease - with Exhibits <br /> <br />Page 263 of 454