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Home My Public Portal AboutA1999-10-05 LRA • � ��5� r ,.+f r.r. _ � . W„�'A'.,' 4 i;k.,',:. li ��.1� . �.'... 1 ' `�� LYNWOOD REDEVELOi�MENT AGENCY . � � "' �� 11330BULLISROAD LYNWOOD.CALIFORNIA90262-3845 � (3101603-022C Ricardo Sanchez, cHniaMnn � �� ?�,-� LouisByrd VICECHAIPMAN R E D Armando Rea, MeMeea - Arturo Repes, MeMeea C�11' OF LYMWOOU I Paul Richards, MeMeea CRY CLERI(S OFFICE S€P S 0 fyyy w w x��14tt�ii��i5i6 � AGENDA � ,_,v � - �,�.�,��,� .� �-� t--� LYNWOOD REDEVELOPMENT AGENCY 4�� E;,'��"� �� , OC'TOBER 5, 1999 ' REGULAR MEETING 6:00 P.M. ' LYNWOOD CITY HAIL, 11330 BULLIS ROAD RICARDO SANCHEZ CHAIRMAN ' LOUIS BYRD ARMANDO REA VICE CHAIRMAN MEMBER ARTURO REYES PAUL RICHARDS , MEMBER _ MEMBER EXECUTIVE DIRECTOR AGENCY COUNSEL RALPH W. DAVIS, III SHAN K. THEVER OPENING CEREMONIES A. Call Meeting to Order. � B. Roll Call (BYRD-REA-REYES-RICHARDS-SANCHEZ) C. Certification of Agenda Posting by Secretary. , PUBUC ORAL COMMUNICATION PUBLIC ORAL COMMUNICATIONS (REGARDING AGENDA ITEMS ONLY) . . ITEMS FOR CONSIDERATION 1. MINUTES OF PREVIOUS MEETING � Regular Meeting of September 21,1999 i� � . . � 2. RESOLUTION OF 7HE LYNWOOD REDEVELOPMENT AGENCY . OF LYNWOOD, CALIFORNIA, ALLOWING AND APPROVING THE DEMANDS AND WARRANTS THEREFORE. PUBLIC HEARING 3. JOINT PUBLIC HEARING FOR CONSIDERATION OF A PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) BETWEEN .. THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., A NON PROFIT CORPORATION. Comments To conduct a joint public hearing regarding a proposed Disposition and ' ° Development Agreement (DDA) between the Lynwood Redevelopment _ Agency and Access Community Housing, a non-profit Community Housing Development Organization (CHDO) for the purpose of : developing two single family dwellings on Agency owned property located at 11730 and 11738 First Street. Recommendation � Staff respectfully request that, after consideration and conducting a public hearing, the Agency approves the following: A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY MAKING CERTAIN FINDINGS WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., A NON-PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. A RESOLUTION OF THE CITY COUNCIL MAKING CERTAIN FINDINGS WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD � REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, . INC., A NON-PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND - ACCESS COMMUNITY HOUSING, INC., A NON PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. A RESOLUTION OF THE CITY COUNCIL APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY . HOUSWG, A NON-PROFIT CORPORATION. REGULARITEM 4. F.Y. 1999-2000 ANNUAL OPERATING BUDGET. .. � . _. ,I . � � Comments: The purpose of this item is to have the Agency Board Members adopt the resolution approving the Agency's Annual Operating Budget for F.Y. 1999-2000. Recommendation Staff respectfully recommends that the Agency Chairman and Board Members adopt the attached resolution entitled: "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF THE CITY OF • LYNWOOD ADOPTING THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 1999-2000." 5. TREASURER'S QUARTERLY INVESTMENT REPORT. Comments The purpose of this item is to have the Lynwood Redevelopment Agency members review the Treasurer's Quarterly Investment Report as required by recently State Status. Recommendation The City Treasurer respectfully recommends that the Lynwood Redevelopment Agency members receive and file the attached Quarterly , Investment Report for the quarter ending June 30, 1999. , 6. PROPOSED EXCLUSIVE NEGOTIATING AGREEMENT ("ENA") BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND SOUTHEAST LOS ANGELES COUNTY CDC (SELAGCDC"). Comments � To seek Agency review and approval of a proposed ENA with SELAC- CDC ("Develope�'), for the purpose of developing Senior-Housing at the , • Kai Aloha Motel located at 11300-Atlantic Avenue. �, Recommendation: 'I Staff respectfulty requests that after Agency and public review of the ENA document, fhat the Agency approve to enter into an Exclusive Negotiating Agreement with SELAC-CDC for the development of Senior-Housing i located at 11300 Atlantic Avenue. i _ INFORMATION ITEM , � NONE i j (, CLOSED SESSION � . . NONE ;, .. ; � � � I � . . � � ADJOURNMENT Motion to adjourn to a Regular Meeting of the Lynwood Redevelopment Agency to be heid October 19,1999 at 6:00 p.m. in the Council Chambers of City Hall, 11330 Bullis Road, Lynwood California , I i i � i � I � I I � I � � � � I i I � �. % � � r � - -- -- . • � LYNWOOD REDEVELOPMENT AGENCY, SEPTEMBER 21. 1999 , The Redevelopment Agency of the City of Lynwood met in a Regular Session in City Hall, 11330 Bullis Road on the above date at 6:51 p.m. Chairman Sanchez presiding. Members Byrd, Rea, Reyes, Richards, Sanchez answered roll call. Also present were Executive Director Ralph W. Davis, III, Agency Counsel Thever, Secretary Hooper and Treasurer Pygatt. Secretary Hooper announced the Agenda had been duly posted in accordance with The Brown Act. PUBLIC ORAL COMMUNICATION None PUBLIC ORAL COMMUNICATIONS - AGENDA ITEMS ONLY None ITEMS FOR CONSIDERATION Item #1: Minutes Of Previous Meeting It was moved by Member Byrd, seconded by Member Rea and carried to - approve the following minutes: Regular Meeting of September 7, 1999 Item #2: Warrant � It was moved by Member Reyes, seconded by Member Byrd to adopt: I LRA RESOLUTION NO. 99.46 ENTITLED: "RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF LYNWOOD, CALIFORNIA, ALLOWING AND APPROVING THE DEMANDS AND WARRANTS j THEREFORE". � � ROLL CALL: � AYES: MEMBERS BYRD, REA, REYES, RICHARDS, SANCHEZ � NOES: NONE f ABSENT: NONE I PUBLIC HEARING i Item #3: F. Y. 1999-2000 Annual Operating Budget. � � It was moved by Member Reyes, seconded by Member Richards and carried to i open the public hearing. ( � Hearing no response, it was moved by Member Richards, seconded by Member i Byrd and carried to close the public hearing. j It was moved by Member Richards, seconded by Member Reyes to continue the ( item until the next meeting. � Item # 4: Joint Public Hearing For Consideration Of A Proposed Disposition And Development Agreement (DDA) Between The Lynwood Redevelopment Agency And Access Community Housing, Inc., A Non Profit Corporation � It was moved by Member Reyes, seconded by Member Richards and carried to � continue to the next meeting. � AGr,I1DA ITEM � I i � . � � REGULARITEM Item 5: Economic Equity Distncts . Executive Director Davis stated S6859 is on the Governors desk for signature. It was moved by Member Byrd, seconded by Member Reyes and carried to: RECEIVE AND FILE INFORMATION ITEM NONE CLOSED SESSION Item #6: �th Respect To Every Item Of Business To Be Discussed In Closed Session Pursuant To Section 54956.8: CONFERENCE WITH REAL � PROPERTY NEGOTIATORS Property: 11330 Atlantic Avenue Agency Negotiator. Agency & Devan Investments, Inc. UnderNegotiation: Pnce & Terms It was moved by Member Byrd, seconded by Member Reyes and carried to recess to a joint ciosed session with the City Council at 8:40 p.m. Agency reconvened at 1020 p.m. Agency Counsel Thever stated the Agency met in joint closed session on the aforementioned matters and stated there was no reportable action. Having no further discussion, it was moved by Member Richards, seconded by Member Byrd and carried to adjourn at 10:21 p.m. CHAIRMAN RICARDO SANCHEZ � I SECRETARY ANDREA L. HOOPER ( � 1 i � � � 2 I � � _ .. . _ . __. . __ . .. .^_ ..... _ . _ - " "RESOCVT'ION ha. LKA � - ' � [- � -: i M - `�� ----- " -- � ---- � - � — � ----- �� ----- � - A - RE3t3LUTiON -- OF�'.'r?£"RED£VECOPME�3T AGENCY CITY� �'- ---� -� -- - � � -�--��-- - LYNWOOD, CALIFOR��'A NLLOWING AfJD APpROVING THE DEMAWDS AND ORDERING � ',,�� WARRAlJTS THERE�C=, . _ ... . ___ __ . _ __._�._--- --....._-------�..-- .__ . _ . . Cy ��:, ._.._ . _.. _ . ._ _ . � --;: . i - _ Redevelopment Agency -f the City of Lynwood does hereby resolve as foilows r�� --- --...- - - - - -� - - �''� .. :'�. .,! : �-i� - Section 1. That the dem�nds presented, ha�ing been regularly audited. are hereby allowed and —_�` : r -- �ppr�ved - ttrerefor - by - ttre - Agency - 7reas�re - to the - payee - and -- in - t�e -- amoonts - indicated. - -- - ,,, _— • I!HI WARRANT#/UATE PAYEE DESC AMOUNT AREA A ALAMEDA "�� --- ------- -��_�--_�_��_��.�'_' �""_—_�'.�_ _ �._ _"_' _ _' _ _' `_ _ __"' �' _ I�a _'�_'�."'_""_'_�__�""'_"`_ _"'_�'__'__'_"__—_— _- m -- 331 10-OS-99 3100 E. IMPERIAL HWY. 1, 300� 000. 00 1, 300, 000. 00 0. 00 ="� � ACOUISITION � DEVELOPMFNT I� :---549�--i6-OS-99-6ARR�--HA�HBRN- --- 68NBUL�iWO-5 GS.---- --� - - --- -- ---9�-}90-0� -----i�-700:{i0 - ---- - 2r090� 00—� - 5499 10-OS-99 CITY OF LYNWOOD REIMDURSEMENT/EXPENDITURE 22.473.83 -18,8�3.93 41.297.76 :o� - 5500 10-OS-99 CROWN PLAZA LODGING SVCS. 645.00 322.50 322.50 �' --- �5p}—io°^v5-9=,---niiNE,—BAL-LMER-brBERHMAN-- ---L-EAAL--SVGS-----------------------22,-408: 75---PO;-9t9.-3B--- ---2r x �� 035-97- :� �� - n+r TOTAL 1, 349� 817. 56 1� 304. 071. 95 45, 745. 63 " . �. - - _ _ --_"_--_-__-'___' "_ - —_'_-ee='�s='ve e e-ceao=c=v=cm� -"__cee=e� msaama'- J] - �� ]G I - Sertibn --- ---- ,, ; - deliver a certified•copy to the Agency T.-easure and shall retain a copy thereof for the record. �a� � = , � ;� � - - - ------ -----------..-------------------------- -- -... _.._..----_---'--- -� PASSED, APPROVED AND ADOPTED THE day of , 1999 «� , — �] <� . _ — . . _ . .__ ___ __ _.. _. _. _ .. . .____.._. . Li - ATTEST: �« <; � <� 'c� � -' ---- R�CARDQ - SANCHE� — ------------ -- � -� SECRETARY CHAIRMAN, Lynwood Redevelapment Agency []� �' '�, b ' J - ------- ------- --------`---- '— ---------------- ---- n w', `� s ' i ao _ - _' _____ . . —'_'—_�__—__ .._ ..'- _ __—'_'_."__—___—'__—'- — __—.____—"__—___ . _......._— _ ..._ ai .c; . "_ _— —_..__ — cz ' 43 1 ,Bi • . . . �.—�—__�_. __ ___ _ 6� � � DATE: October 5, 1999 TO: HONORABLE CHAIRMAN AND MEMBERS OF THE AGENCY FROM: Ralph Davis, Interim Executive Director BY: Gary Chicots, Communiry Development Director Donyea Adams, Housing Manager SUBJECT: JOINT PUBLIC HEARING FOR CONSIDERATION OF A PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., A NON PROFIT CORPORATION Pur�ose: To conduct a joint public hearing regarding a proposed Disposition and Development Agreement (DDA) between the Lynwood Redevelopment Agency and Access Community Housing, a non-profit Community Housing Development Organization {CHDO) for the purpose of developing two single family dwellings on Agency owned property located at I 1730 and 11738 First Street. Facts: I 1. The City has established Community Development goals and objectives that � include ongoing activities to promote new development, provide effective land use practices, and identify available resources for funding. 2. As a paRicipating jurisdiction in the Home Investment Partnerships (HOME) Program, the City is required to allocate 15% of its annual allocation to Community Housing Development Organizations (CHDO's) for affordable housing purposes (Federal Regulation Part 92, Subpart G, Section 93.200). I 3. In a combined effort to meet Community Development goals and comply with � Federal regulations, the Ciry published a Request for Proposals (RFP) to solicit proposals from qualified CHDO's to develop affordable housing using HOME I funds as a funding source. � 4. Three proposals were submitted and Access Community Housing was selected as � � the designated CHDO. On October 6, 1998, the City Council approved an Administration Agreement with Access Community Housing, Inc., to develop I . affordable housing and allocated �104,000 of Home Program funds for financial � assistance. The City Council also directed staff to work with the Developer and � prepare a development agreement for fina] approval.(see attached Administration Agreement) � 5. A drafr Disposition and Development Agreement (DDA) has been prepared for � Ciry Council review and approval based on the preliminary plans that have been j submitted. � Analysis• � � � Project Proposal Access Community Housing, Inc., a non-profit Community Housing Development Organization, (CHDO) has been desi�nated by the City to develop affordable housing and construct rivo new single family dwellings on existing Agency owned vacant property. Upon completion, the homes will be sold to low and moderate income families. �` � AGEidD'A ITEM � l M1�.. i ' � I 1 I . � � Property Size and Location The project site includes two vacant lots that are owned by the Lynwood Redevelopment Agency, and located in Redevelopment Project Area A, south of the I-105/710 connecting route. The two lots are located at 17730 and 11738 First Street, north of Josephine Avenue and west of Atlantic Boulevard (see attached site map). Both lots are also located within the flood plain zone. The size of the lots and the project site are as follows: 11730 First Avenue - 5,748 square feet 11738 First Avenue - 8.865 sqjaare feet 14,613 Total square feet Project Development Project plans have been submitted by Access Community Housing and the preliminary plan check has been completed. The basic design for each house is a two-story dwelling, with exterior stucco treatment, architectural shingle roofing, and triple glazed windows for sound insulation, attached garage, new concrete driveways, and landscaping improvements. (See attached Elevation Plans) The total size of each house is 2,753 square feet. Each house will have 1253 square feet of living area on the second floor including a living room, kitchen, dining room, three bedrooms, two bathrooms and a laundry room. Due to the project being located in the flood zone the living area must be constructed six feet above ground leveL Therefore, the first floor is designed [o meet this requirement with a twacar garage, utility room, and storage room totaling 1,500 square feet. (See attached Floor Plans) I Additional site improvemen[s include grading, utiliry source connections, new concrete I driveways and sidewalks, new fencing, and new landscaping. i i The estimated project costs are as follows: ' Plan Development $ 10,000 (plans & Specs, soil test, etc) � Site Improvements � 14,000 Construction $116.000 � Total (One Single-Family Unit) $140,000 � The total estimated cost for the construction of both dwellings is $270,000. ! � Project Funding I Financial assistance will be provided for the project with $104,000 of HOME Program � funds. These funds represent 15% of the City's 1996 and 1997 annual allocation that are � set aside for CHDO's to develop affordable housing. The funds are to be used by the � Developer to acquire the two parcels from the Agency and te offset a portion of the total project cost. In consideratio❑ of the financial assistance, the Developer will sell the � home to families that do not exceed 80% of inedian income. � An appraisal was conducted on the property and each lot was appraised at $30,000, or � �60,000 for both lots. (See the attached Section 33433 Document) { I � � f 1 l I � � Disposition and Development Agreement (DDA) The following information is a summary of the terms and conditions of the DDA: 1. All plans must be approved by the City and all work must be performed according to approved plans and specifications. 2. The Agency will provide financial assistance with $104,000 of Home funds 3. The sale of the home will be restricted to families with incomes that do not exceed $0% of the County median. 4. The project will be completed within 8 months after execution of Agreement. 5. The Developer must provide security financing before project begins. 6. Agency has the right to terminate the Agreement in the event of a default or failure to perform. Project Summar}�: The Access Communiry housing project will accomplish the following: l. Community Development goals and objectives regarding new land development will be realized. 2. The City �vill comply with federal regulations regarding the expenditure and use of federal funds. , 3. Affordable housing opportunities will be provided for low to moderate income families. 4. New housing will be a provide positive impact and enliance the I surrounding neighborhood. I Recommendation: i Staff respectfully request that, after considerat�on and conducting a public hearing, the Agency approves the following: A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY MAHING � CERTAIN FINDINGS VVITH RESPECT TO THE PROPOSED D[SPOSITION � AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD � REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., I A NON-PROFIT COMMUMTY HOUSING DEVELOPMENT ORGANIZATION. i 1 A RESOLUTION OF THE CITY COUNCIL MAHING CERTAIN FINDINGS I WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSINC, INC., A NON-PROFIT I COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. 1 A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY 4 APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT BY � AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND I ACCESS COMMUNITY HOUSING, INC., A NON PROFIT COMMUNITY � HOUSING DEVELOPMENT ORGANIZATION. i A RESOLUTION OF THE CITY COUNCIL APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, A NON-PROFIT CORPORATION. I t � I i I � � � i � . � � Attachments: 1. Resolutions 2. Administration Agreement 3. DDA 4. Project plans 5. Section 33433 Summary Report I I I � ( � I � I i � � � I i I I . � � LRA RESOLUTION NO. A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY MAKING CERTAIN FINDINGS WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMEPFT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., A NON-PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. WHEREAS; the Lynwood Redeveiopment ikgency (the "Agency")wishes to consider the approval of a Disposition and Development Agreement by and between the Agency and Access Community Housing (the "Buyer") for the sale of the property located at 11730 and 11738 1�` Street; and WHEREAS, a Project Environmental Impact Report was prepared for the 1980 Amendment to Redevelopment Project Area "A" ("1980 EIR"); and WHEREAS, the development advances the goais of the 1980 Amendment to Lynwnod Redevelopment Project Area "A" ("1980 AmendmenY') described in the 1980 EIR which goals are to (1) arrest the decline and decay ' and the spread of blight throughout the project area, (2) restore and revitalize ' existing residential, commercial and industrial areas to viable centers serving community and regional needs, and (3) stimulate and attract private investment thereby improving the City's economic health, employment opportunities and tax base; and WHEREAS, the 1980 EIR addresses the environmental impacts of the development pursuant to the proposed agreement; and WHEREAS, the City has prepared an Initial Study and found and determined that a subsequent EIR is not needed because none of the following condition of Section 15162 of Guidelines for the Implementation of the California Environmental Quality Act��("CEQA Guidelines") has occurred: Subsequent changes are proposed in the project which will require important revisions to the 1980 EIR due to the involvement of new significant impacts not considered in the 1980 EIR; and Substantial changes occurred with respect to the circumstances under the project was undertaken due to the involvement of the new significant impacts not covered in the 1980 EIR; and ; New information of substantial importance to the project has I become available. � NOW, THEREFORE, the Lynwood Redevelopment Agency hereby resolves as follows: I ( ection 1. The redevelopment of the Site provided for by the DDA is covered by the 1980 EIR which serves as the Final Environmental Impact Report for the entire Amendment, which Amendment constitutes the "ProjecY'. I ti n 2. The redevelopment of the Site provided for by the DDA was considered in the 1980 EIR as part of the Project. ecti n. The 1980 EIR was considered prior to the approval of the Agreement. The Agency hereby finds: the redevelopment pursuant to the I proposed Agreement is within the scope of the 1980 Amendment previously I approved; the effects of the redevelopment pursuant to the propose Final Environmental Impact Report together with ail other development. All feasible mitigation measures and alternative developed in the previous Finai I � � Environmental Impact Report for the Project are incorporated in this Development. No new information of substantial importance to the Project has become available. The final Environmental Impact report, therefore, is determined to be adequate to serve as the environmental impact report for the Development and satisfies all the requirements of CEQA. tion 4. Applicable mitigation measures identified in the Final Environmental Impact Report have been incorporated into this Development which mitigate any potential significant environmental impacts thereof. Section 5. The Final Impact Report incorporates certain mitigation measures which are to mitigate or avoid significant effects on the environment, and the Agency hereby adopts the following program for reporting and monitoring the implementation of such mitigation measures pursuant to Public Resources Code Section 21081.6: A. The developer selected by the Agency shall enter into an Agreement with the Agency to submit all plans and specifications for the Development to the Agency for its approval, at which time the Agency shall review the plans and specifications for compliance with such mitigation measures as are the responsibility of the Developer; B. The Agency shall comply with ail requirements of the City of Lynwood (the "City")) and all public agencies having jurisdiction in any demolition and construction of public works are to be constructed by the Agency; C. The Agency will report to the City Council of the City not less than annually on the implementation of the mitigation measures and make any recommendations it deems necessary to further implement said measures, such report to be included in the Agency's annual report pursuant to California Health and Safety Code Section 33089.5 and 33080.4; D. The Agency hereby authorizes and directs that a Notice of Determination with respect to the acquisition and development of the Site pursuant to the proposed DDA, and all other Agency actions taken in furtherance thereof, be filed. 1 APPROVED AND ADOPTED this 5th day of October, 1999. � � I Ricardo Sanchez, CHAIRMAN � ATTEST: � i Andrea L. Hooper, City Clerk Ralph W. Davis, Interim Executive Director APPROVED AS TO FORNI: ARPR�VED AS TO CONTENT: ' � Shan Thiever, Gary D. Chicots, Director I Agency Attorney Community Development I � � � � i , I . � � . RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL MAKING CERTAIN FINDINGS WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, INC., A NON-PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. WHEREAS, the Lynwood Redevelopment Agency (the "Agency") wishes to consider the approval of a Disposition and Development Agreement by and between the Agency and Access Community Housing (the "Buyer") for the sale of the property located at 11730 and 11738 1 Street; and WHEREAS, a Project Environmental Impact Report was prepared for the 1980 Amendment to Redevelopment Project Area "A" ("1980 EIR"); and WHEREAS, the development advances the goals of the 1980 Amendment to Lynwood Redevelopment Project Area "A" ("1980 AmendmenY') described in the 1980 EIR which goals are to (1) arrest the decline and decay and the spread of blight throughout the project area, (2) restore and revitalize existing residential, commercial and industrial areas to viable centers serving community and regional needs, and (3) stimulate and attract private investment thereby improving the City's economic health, employment opportunities and tax base; and WHEREAS, the 1980 EIR addresses the environmental impacts of the development pursuant to the proposed agreement; and WHEREAS, the City has prepared an Initiai Study and found and determined that a subsequent EIR is not needed because none of the following condition of Section 15162 of Guidelines for the Implementation of the Catifornia Environmental Quality Act ("CEQA Guidelines") has occurred: Subsequent changes are proposed in the project which will require important revisions to the 1980 EIR due to the invotvement of new significant impacts not considered in the 1980 EIR; and Substantial changes occurred with respect to the circumstances under the project was undertaken due to the involvement of the new significant impacts not covered in the 1980 EIR; and New information of substantial importance to the project has become available. NOW, THEREFORE, the City Council hereby resolves as follows: Section 1. The redevelopment of the Site provided for by the DDA is � covered by the 1980 EIR which serves as the Final Environmental Impact Report for the entire Amendment, which Amendment constitutes the "ProjecY'. ec i n 2. The redevelopment of the Site provided for by the DDA was considered in the 1980 EIR as part of the Project. Section 3. The 1980 EIR was considered prior to the approval of the Agreement. The Agency hereby finds: the redevelopment pursuant to the proposed Agreement is within the scope of the 1980 Amendment previously approved; the effects of the redevelopment pursuant to the propose Final Environmental Impact Report together with all other development. All feasible mitigation measures and alternative developed in the previous Final Environmental Impact Report for the Project are incorporated in this I . � � Development. No new information of substantial importance to the Project has become available. The final Environmental Impact report, therefore, is determined to be adequate to serve as the environmental impact report for the Development and satisfies all the requirements of CEQA. Section 4. Applicable mitigation measures identified in the Final Environmental Impact Report have been incorporated into this Development which mitigate any potential significant environmental impacts thereof. Section 5. The Final Impact Report incorporates certain mitigation measures which - are to mftigate or avoid sigrtif'rcant Effects - tha - environment, and the Agency hereby adopts the following program for reporting and monitoring the implementation of such mitigation measures pursuant to Public Resources Code Section 21081.6: A. The developer selected by the Agency shall enter into an Agreement with the Agency to submit all plans and specifications for the Development to the Agency for its approval, at which time the Agency shall review the plans and specifications for compiiance with such mitigation measures as are the responsibility of the Developer; B. The Agency shall comply with all requirements of the City of Lynwood (the "City")) and all public agencies having jurisdiction in any demolition and construction of public works are to be constructed by the Agency; C. The Agency will report to the City Council of the City not less than annually on the implementation of the mitigation measures and make any recommendations it deems necessary to further implement said measures, such report to be included in the Agency's annual report pursuant to California Health and Safety Code Section 33089.5 and 33080.4; D. The City hereby authorizes and directs that a Notice of Determination with respect to the acquisition and development of the Site pursuant to the proposed DDA, and all other Agency actions taken in furtherance thereof,.be filed. APPROVED AND ADOPTED this 5th day of October, 1999. Ricardo Sanchez, Mayor I ATTEST: Andrea L. Hooper, City Clerk Ralph W. Davis, Interim City Manager APPROVED AS TO FORM: APPROVED AS TO CONTENT: � Shan Thiever, Gary D. Chicots, Director Agency Attorney Community Development I { , � � RESOLUTION NO. A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEn THE LYNWOOD REDEVELOPMENT AGENCY AND ACCESS COMMUNITY HOUSING, A NON-PROFIT CORPORATION. WHEREAS, The City of Lynwood has received a HOME/CHDO Set-Aside allocation of $48,850 for Fiscal Year 1996 and a HOME/CHDO Set-Aside allocation of $55,214 for Fiscal Year 1997 from the Federal Department of Housing and Urban Development to carry out certain eligible activities in accordance with federal regulation 24 CFR 92; and , WHEREAS, the Lynwood Redevelopment Agency engages in affordable housing opportunities and projects for low and moderate income persons as part of the Redevelopment Plan and in order to implement a redevelopment project the Agency proposes to enter into a Disposition and Development Agreement with Access Community Housing, which provides for " the development of single family homes, and � WHEREAS, the Agency desires to consider the disposition of the Agency property in connection with the development of the Site by the Developer, and WHEREAS, the proposed DDA wntains all the provisions, terms, conditions, and obligations required by state and local law, and WHEREAS, the Developer possesses the qualifications necessary to ensure development oFthe Site proposed in accordance with the purposes and objectives of the Redevelopment Plan, WHEREAS, the Agency has conducted a public hearing and considered the proposed ' ��, DDA based on the best interest of the Ciry of Lynwood and in accordance with the goals and objectives of the Lynwood Redevelopment Agency; NOW, THEREFORE, IT IS RESOLVED by the Lynwood Redevelopment Agency as follows: ' Section P. That the Agency approves the Disposition and Development Agreement with Access Community Housing, Inc. and commits $48,850 of the 1996 HOME Investment Partnership CHDO Set-Aside allocation and $55,214 of the 1997 HOME lnvestment Partnership CHDO Set- Aside allocation to be used for the development of affordable units. � � ecti n 2. This Resolution shall go into effect immediately upon its adoption. PASSED, APPROVED and ADOPTED this Sth day of October, 1999. Ricardo Sanchez, Chairman ATTEST: Andrea L. Hooper, City Clerk Ralph Davis, Interim Executive Director APPROVED AS TO FORM : APPROVED AS TO CONTENT � Ciry Attomey Gary Chicots, Community Development Director . � � RESOLUTION NO. A RESOLUTION OF THE LYNWOOD CITY COUNCIL APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITI' COUNCIL AND ACCESS COMMUNITY HOUSING, A NON-PROFIT CORPORATION. WHEREAS, The City of Lynwood has received a HOME/CHDO Set-Aside allocaiion of $48,850 for Fiscal Year 1996 and a HOME/CHDO Set-Aside allocation of �55,214 for Fiscal Year 1997 from the Federal Department of Housing and Urban Development to carry out certain elieible activities in accordance with federal regulation 24 CFR 92; and WHEREAS, the City Council engages in affordable housing opportunities and projects for low and moderate income persons as part of the Redevelopment Plan and in order to implement a redevelopment project the Agency proposes to enter into a Disposition and Development Agreement with Access Community Housing, which provides for the development of single family homes, and WHEREAS, the City Council desires to consider the disposition of the Agency property in connection with the development of the Site by the Developer, and WHEREAS, the proposed DDA contains all the provisions, terms, conditions, and obligations required by state and local law, and � WHEREAS, the Developer possesses the qualifications necessary to insure development of the Site proposed in accordance with the purposes and objectives of the Redevelopment Plan, WHEREAS, the City Council has conducted a public hearing and considered the proposed DDA based on the best interest of the Ciry of Lynwood and in accordance with the goals and objectives of the City Council; NOW, THEREFORE, IT IS RESOLVED by the City Council as follows: ecti n 1. That Ihe City Council approves the Disposition and Development Agreement with .Access Community Housing, Inc. and commits �48,850 of Ihe 1996 HOME •Investment Partnership CHDO Set-Aside allocation and $55,214 of the 1997 HOME Investment Partnership � CHDO Set-Aside allocation to be used for the development of affordable units. ecti n 2. This Resolution shall go into efFect immediately upon its adoption. PASSED, APPROVED and ADOPTED this 21st day of September, 1999. Ricardo Sanchez, Mayor � ATTEST : Andrea L. Hooper, City Clerk Ralph Davis, Interim City Manager APPROVED AS TO FORM : APPROVED AS TO CONTENT City Attomey Gary Chicots, Communiry Development Director . � � HOME CONTRACT AND ADMINISTRATION , AGREEMENT BY AND BETWEEN THE CITY OF LY��'VOOD AND ACCESS COMMUNITY HOUSING, INC. I I � � i I � � I � � � i � . � • I I � * SpKg CpxZ'R7►C'p �ND ADlIZNZBTRATIOIi 71CREE1�21T BY ]1PiD HBTIIY�1 'PYT CIT7! Or LYNfi00D and ' ACCESS COhA1UNITY HOUSING, INC. THIS SO!(E CONTR7►CT � 71D1[INISTR7ITZON �G1tLElSL21T (thQ �1Agreement^) i� p�t�red into by and bett+een the CZTY OY LYIiROOD, a unicipal corporation, and the Access Co�cmiunity Housing Inc. ', a ublic body, corporate and politie. Tha City of Lynwood and tA� ynwood Redevelopment I�gency�hereby egree a� follova: [ 5. 100 J BURPOSE. OF. FIRST..AIiENDMENT . AGREE44ENT The purpose of this Aqreement is to ensure that "Home Funds" aire ucad in accordanco aith all proqram raquiramantc sot forth in 7�a CFR, Part 92, which is the requlatory document 2or the Home Ilnvestment Partnership Program (the ^Home Piogram^). Heneeforth the LynWOOd Redevelopment Aqency shall be referred Go as the "SUbrecigient" and the City of Lynwood shall be referred qo as the ^Administrator of the Home Funds^ or "Administrator". l elov+ ara tha tcrma of thie Agrccmcnt agreed to and avidancod by �iqnatures to thia contract. 1. This Aqreement shnll remain in effect !or the duratlon oY the affordability raquirementc of the program or projact f�r vhir.h Homa Funds era wxpended, and durinp any Derlod _ in vhich the Subrecipient has control over Home Funds. i 2_ The Subrecipient eqreea that it shnll not di�burae any of th� Hom� Flinds pursuant to this Agreement prior to �I entering into a�aritten aqreement witA any Aome Proqram qualified or eliqible contractor or project oxner (the "COnuactor"), ensuring Home Program compliance. 3. At a minimwa, ttie Subrecipient aqrees to cause the Contractor to submit in writing in its application Lor HvME ruaG� the followlnq: (a� a eompieta dascrlptlon of the use of the Home Funds; and (b) the tasks to bQ performed with zespect to the construction and complation of tha subject project, a schedule !or completing the tasks and a budqet in suflicient detail for the Subreoepient (on bnhnlf of the .Adminiotrator) to datermine that �hether the release of the Home Punds can be adequately monitored by the Subracipient and/or the Administrator. I a_ The Subrecipient aQrees to cause flach Contractor to eomply vith the afLordability requiremente of Sections 92.252 and 9�.254 of 2d CFR Part 92 of the Home � Page 1 of l0 � I I � I ( i I I i i I l � I . � , Regulations, and should a Contractor not meet th• affordrbility requirpmanY.a for the specified tlme period, the Subrecipient (on behalf of the Administrator) shall require repayment of the Home Funds. Instrumenta eviGenclnq these aZforCability covenanta may La recordea aqainst the project by the Subrecipient. S. Any and all Home F�nds repayable to the Administrator shall include any interest or other returne earned on th� Hoaie F�nda nnd ahell be retained by the l�dministrator in its Home Trust fl�nd Lor radistzibution to othez projects eliqibl• to receive Home FUnda. 6. The Subrecipient shall comply with uniform administrative racii�irwments as follovs: A. Government Entitiea. The requirements of QSB c�rcular t+o. n-a� anC the 2ollowing reyuireaentn of 24 CPR Part 85 apply to the pazticipatinq jurisdiction,. state recipients, and any qovernmeatal subrecipient r�ceiving Aome funds: SS 85.6, 85.12, 85.20, 85.22� 85.26� 85.75, 85.38, 95.44, BS.51 and 55.52. e. Nonprofit orqanizations. Tht rsquirements oi OMB cireular No. n-112 anC the Zolloving requiremencs of OMB Circular Ho. A-110 apply to subrecipients r receivinQ Home funds that are private nonprofit orqanizations: Attachmant B, attach F, attachmeat ' H, paragraph 2, and attachment 0. (COpies of OH8 Circulare may be obtained from E.O.P. Publicationa, Room 2200, Nev Executive Office Buildinq, ', waahinqton, D.C., 2050J, telephone (202) 395-7]]2. , (This is not a toll-free number. There is a limit of tvo free copies.) 7. The 5ubrecipient aqrees to conduct audits in accordance vith 24 CFR part 44, and Ot�ffi Circular A-1-33. s. The Subrecipient aqrees that it will comply with tha maximum per unit HOME subsidy amount requir�d by HUD and lurther dePined in 26 CRF-92, Section 92.250. 9. Tha 6ubracipiant aqzacn that it vill cauce sach Contractor to comply With the Housinq puality Standarda, City o! Lynwood Proparty Standard�, as applicable to the I unit or project to ne renae111catea, coaetructea, acquired or assisted with HOME tl�nds, and that it v111 � comDly vith all local codos, rehababilitatian standards, zoning ordinances, cost effeetive anergy conservation, and effectiveness standards (Z4 CFR part ]9), and for new � � Page 2 of io j, � � I � � f � � I � I � � construction.xill meet the current edition o! the Model Enarqy Code publishad hy tha Council of Amarican Buildinp Olficialz. 1o. The SubreciplenL also agrees to carry ouc and cauee each Contractor to carry out Qach activity in compliance with all federal laws and requlations as follows: ]►. The Subrecipient Will cause each Contractor to comply vith tha requiramnnta of ttae Flood Dicaeter Protection Act o! 1971 (42 U.S.C. C001-4128) and the Coastal HaZrier Resources Act (16 U.S.C. 3601). 8- The Subrecipient vill comply vith the provisions of the National Environmental Policy Act of 1969 (NEPA) (G2 D.S.C. �321j, and applicable related environmental authorities at 23 CFR PaTt 50.4, and }iW 's implementing rcguletivn� at 24 CFR Part S0. C. Tha Subrecipient will cause eaeh Contraetor to comply vith the requirenents of the Fair Aousing Act (42 O.S.C. 3601-19) and implementinq rogulations at 2d CFR Dart 100, art 109, and Part 100; executive Order 11063 (Bqual opportunity in Iiousing) ad implemeating requlations at 2d CFR Part 107; ana Title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d) (NOndiseriminatlon in FadQrally . Assisted Ptoqrims) and implementinq requlations issued at 2a CFR Part i, and vill affirmatively further fair housing. D. The Subrecipient will cause each Contractor to comply vith the I�ge Discrimination Act of 1975 (42 I U.S.C. 6101-07) and implementing regulations at Z4 CFR Part 146, which prohibit discrimination beeause of aqe in proqrams and activities reeelvinp Federal financial assistance. E. Tha Subreclpient �ill c;au�e rae:t� Contractor, as applicable, to comply with S�ction 50� of the Rehahilitation Act of 197] (29 U.S.C. 794), as amended, and vith implementinq requlations at 24 CFR Part 8, vhich prohibit discrimination based on handicap in Fedcrslly-aaaiated and eondueted proqrams and activities. F. The Subrecipient uill causa each Contractor co eomply vith Seetion 3 of the Housing and Urban Development Act of 1968 (iZ U.S.C. 1701U) (Employment Opportunities !oz Lowar Income Persons in Connection with Assisted Projects), and vith � Page ] 01 10 � � I � I � f � I I � � implemontinq requlations at 24 CFR 135. G. The SubrecipiQnt will cause aach Contractor to comply vith the requirements of Executive Order 11246 (Lqual Lmploymint Opportunity) nnd the requlations issued under the Order at 41 CFR Chapter 60. x. The Subrecipient will cause each Contractor Co comply with Executivo Ordorc 11625, 13432, and 1213e, which rtate that proqram participants shall, take alfirmative-action to.-encourage partici�pation by minority-ovnad and woman-owneC business enterprisec. i. The Subrecipient and each Contractor vill comply vith the polieies, quidelinas, and requirements of oMD Circular Nos. A-d7 (Cost Principl�s Applicebl• to Grants, Contracts and oth�r l�qraemants vith Stat� and Local Governmants), 24 CFR Part 85 (Administrative Requirements !or Grants and Cooperative Aqreements to State, Local and Fad�rally Racogsizad Zndian Tribal Governments). A- il0 (Grants and Cooperative Aqreements with Institutions of Sighsr Education, Hospitals, and ocnez tvonpzoflt orqanlsacions), a-1zz (cost Principles Applieable to Grants, Contraets and _ other Aqreements wita NonproLit Institutions), and auCit requiremQnts described in ot� Circular A-133 (Audits o! Institutions of Hiqher Learning and Othcr Non-profit Zn�titutionc. J. 'I'he Subrecipient will cause eaeh Contractor to provide drug-free workplaces in aceordance vitII the Drug-Free workplace Act of 1988 and HUD'e implementinq requlations at 23 CFR Part 7S. K. The SubracipiQnt will cause each Contractor to camply with the requirrmentY �t the Lend-�nsed Paint Poisoning Prevention Act (42 U.S.C. 6821, et saq.J and implementing requlations at 24 CFR Part 35. ' L. Tha Subracipiont and oach Contractor vill oneuro that no person has been or will be displaced from his oT her dvallinq as a diract result of the homeownnrshlp proqram descrSDed in tAia applieation. This does not preclude terminntion of tenancy !or violation of the terma o! occupancy of 4 a unit. I Yeqe 4 of 10 I i. � . � � H. The Subrecipient will ansure that no Federally appropriatad Punda hava hwwn paid or �ill be yaid, by oz on bahalf of any Concractor, tor lobbying the Exeeutive or I.aqislative Branches of the Federal Governmertt. (Refer to the gov�rnment-vide commoa - rule governinq the restrictions on lobbyinq, yublished as an interim rule on February 26. 1990 (SSFR 6736) and supplemented by a Notice published June 15 1990 (55 FR 24520). For HUD, this rule is found at 24 CRP Part 87). ' N. The Subrecipient will ensure that each Contractor and/or its principals (a) are not presently del�arred, suspended, proposed for debarm�nt, deelared ineligible, or involuntarily excluded from covered transactiona (see Z3 CFR 24.110) by any Faderal department or aqency; (b) have not vithin a psriod of ten (10) years been eonvicted of or had n civil judgment randered against them for commission of embezzlement, thelt, forgazy, bribery, lalsification or destruction of records, makinq also statemant or recaiving stolen property; (c) are not precently indictod !or or othorvico eriminally or civilly charqed by a qovernmental Aqency (Federal, State or local) With commission o! any o1 tIIe orZenses enumerated in (b) ot chis certification; and (d) havo not vithin a thrao year _ period precsdinq this application had one or more public transactions (Pederal, State or lxal) terminated for cause or default. where a Contractor is unablc to certify to any of the statements in this ceztification, it shall attach an statement of explanation for its inability to certify. O. Th� Subrecipient vill r�use each Conrrapf.or tn comply with Stata and local eodes and ordinancns and other applicable lavs. P. The SubrQCipient and each Contractor will comply vith conflict of interest provisions referred to in Section 530 of the Notice of Proqram Guidelines 56 F.R. 4458, vhich provide that no person vho is an employao, agont, concultanC, offacar or oloetee or appointed official o! the Agency and vAo exercises or has exnrcised any functions or responsibilities vSth resp�ct to asslsted activities, or vho le �n a I position to participate in a decision-makinq proeess or Qain inside infornation vith reqard to I such activities, may obtain a financial interest oi benefit from the activity, or have an intQrost in � page 5 of 10 I I I i 1 i , I � � � 1 ! i I I . � � , any contract, subcontract, or agreement viih raepnct thar�to, or tho procaods th�reunder, either for himself or herself or tor those with vhom he or she has family or business ties, during his or her tcnure or for ono year thereafter. Q. Th� Subrocipicnt vill eause each C�ntr�ctor to comply vlth the Ddvis-Sacon Act (40 O.S.C. a-5) involving 12 or more unita asaisted wiih HOxE . Funds, as morr tully Sctinad in 24 cFR Part 92 Seetion 92. CFR 754. R. The Subreeipinnt aqrees and each Conuactor shall comply vith all applicable proqram requirements daccribad by tho Adminiatrator, and tha HO�IT rnqulations 2< CFR, part 9Y as applicable, and any amendments hereafter to th� HOME r�gulatio�s and/ar the Aaminlscrator proqram qulCellnes. 11. The Subrecipient apreee Co cause each Contractor to comp�y vith the City o2 Lynvood's atlirmative marketing plan, and th� Contractor chall be turther raquired to , keep all �ueh reeorde in a eentral Sils raadily a�ailablo for the Administzator and Subrecipient to monitor its efforts and compliance vith at2irmative marketing. 12. Zf the Contractor is a reliqious organization, th� Subrecipiant shat] cause it to comDly with 2� CF �, Pazt � ' 92, Section 92.257, which refers to the requlation that the housinq project undertakan by a reliqious organication must be availabl• to nll p�rsons regardleaa oP reliqion, and there must be no reliqious or membership criteria for tanants of tha property. 13. The Subreeipient aqrens that it vill make no disbursement I of HOMB F1u�ds und�r thic Aqronmant to any Contractor until the lunds are needed ior eliqible cost, and aach ' request will be limited to the amount needed. 14. The Subrecipient aqrees to transfes to the Administrator any and all HOME Flinds recnived lrom a Contractoz at the completion of a project, vhich exceeds the necessary amount of lunds to complete the project. 15. Upon axpiration of this Agreement the Subrecipient aqrees ( to transfer to the Administrator any HO?lE Funds on hanC at the time o! expiration and any aeeounts recelvable attzibutable to the HO!!! Tunds, unless said funds are to k�w rntwinwA in a teparate HOME account admlrtlCtYred by the Subrecipient. Page 6 of 10 I I � 1 I i I I � I � I � � 16. The Subrecipient aqrees to keep records and reports and submit aame to the Adminictzatoz, ineluding but not restricted to: A. Tenant occupancy by income ana famlly slze. n. nocum.ntation of inspections betore, durinQ and upon completion of a project. C. Annunl aite viaite for aflordability complianoo for multifamily units. D. Biannual (every 2 years) sitQ visits for a one to lour dwellinq unit. E. Affirmative markinq outreach, such as clipped notices and/or advertisements, or paid invoices for electronic media. F. EQual opportunity and fair housinq records ' includinq racial and ethnic qroup and single headed I housahola data, S�ction 7 data, minority and female ovn�d bucinocc data and affirmativ fair houaing actions. �. Census tracts vriere investments are maae, accoraing to amount of HOME Flinds budqeted, committQd and expendQd. i H. Zf nev constructions, rQCOrds supportinq c�rtification for eligibility. I. Records for docuanntinq the ineome o! HOME beneficiaries. J. Proqrrm �dministrar.inn records as follovs: � (1) 1►ccounting Tecords r�qarding the local HOIiE Iflvestment TruSL Fund account and any separnte HOHE accounts set up for repayments of I invested AOME flnds. � (2) C/MI records (payment certificationa, reporta, eic.) (3) Recordc documenting proqram ineoma lrom HOItE assistea pro�ecLS. (d) Rseords of all HOtiE Proqram written aqreements and moaitoring reviews. Page 7 01 lo I 1 ( I 1 I l i i I I I � I 1 � � . � ` (5) xecords o1 audlt�. R. To comply Mith 2i CFR, Part 92, any dsta coll�ction requirementc, raports and/or r�eords that MJD shall require. 1�. Tbc 6ubroeipient aqr��a Chat not l��c than annually, it shall ravi�v the performanee of each contractoz and subzsclpient, as applicabla. . 18. The Subzecipiont aqioas to istaln and eause eaeh contractor to retain all records at laast three (3) yess�. after the psriod snds. ihia Aqreement ahall bsqip oa - QCtOber 7 ,1998 � and will r�main !n Iorc� tor th� psriod ot allordability applioable to the projact !or vhiCh HOl2 TvnGC ara invasted, unless the �ubraeipi�nt d�tsrminss that a breacb of contract Aas oecurrtd, at which timo tAs l�dministrator nay exsrciat any attd all o! 1ts�riphts artd remedies und�r th� HO?[E rtqulations, 2• CPR', part 92, including thQ riqht to teruinat� this Aqreement and recapture eny nORE Fund� alloaat�d Lo t!►� 9ubrecipiset. Upon the execution oS this Agr�Qment, tb� 1►dministrator aqrees tio allocate in aceordance to the City quidslinoa and th� HOlIE Aequlations of 26 CFR, Part 92, th� amOUnt of One dundred Four Thousand Sixty Four ($104,Ob4). - (5 200� USF hND DISHURSIIiENZ' OF HOME t�7ND8 The Administrator antl th• SubitelDisAt Af=Obv �qr�o that tA� - amount of One Hundred Four Thousand Sixty Four ($104,064 bf HOME FLnds �llocatad to the Subreclplant pursuaat to th� Aqr�smant.ahall ba used by the subr�cipi•nt to provid� qap lSAaneinq to the Contractor Qprocured by the Eubrealpiant) who vill ba soquirod to a�cuz• or provide additional financinq !or tha dovelop�snt ot tde aflordabl• dvelling units Sn qompliancs vith all pertln�nt 1lOML preqram �or�assuri q that fiOME Funds ussd Contr a ctor b in ull compli�nr.w vi�h thw HOMF. PrpqrA• reQuiiesenta ds set fozth �bove, and the Sehedul• of Psrforsance a• provid�d for b�lov. Tn• SuDrec;ipiant al+sll only QisDUr�� th� HO!!E Tunds in �ccordance with th� proviaiona tor tha disburremant of tho !{OML Bunds ns specified in this Aqraement. f5 700] SCHEDULE OF PERpOWlJ►iiCL The Administzator and th• Subrscipiant htreby aqree thnt th� 9�hedule ot PerLOrmance, v�tch Ss attached har�to as Attach�nsnt No. Pnge 8 of 10 I � , � � I I � � i I � ( � � • and fully incorporated herein by this reference, represents the im� framo for tho uu of t2w HoltT Flu�ds and thn Awv�lopeient of the Sfordable dwellinq units to ba devaloped vith the HO?SE Funds ursuant to this Aqreement. 1�V. [S 400j DATE OF FIRST 71MENDMENT AGREEMFNT This Agreement consist of ter� (10) pages and one attachment rind inteqrates all of the terms and conditions mentioned herein or ncidentel hsrsto, and auperaedee all naqotiationn or previouc greements betveen the parties IN wITNESS HERgoF, the Administrator and Subrecipient have oxacuted this Aqreement as vf the date'first hereinalur set Larth. - THE CITY OF LYNWOOD . (Administrator) Date: BY= TH& LYNWOOD REDEVELOPMSN'?' AGENCY (Subrecipient) Date: BY� Attest: City Clerk f � I I Page 9 of 10 I I ( � � � ATTACHlSENT NO. 1 SCHEDU.I,c$ OF PERFO 1KnN . F�rojact Schedule: (1) Procurement of Contractor - On or before �ctober 7, 1998 (2) Enter into Aer�uiaition. Loan and Development Aqreement - On or beforo December 22, 1998 , ' (3) Submis�ion oL Evidnnce ot Financinq - On or before Jan. 1, 1999 , (4) Architectural Drawinqs - On oY befoTe January 1, 1999� (5) Parmits/Variancas - On or bafo=e January 1 1999, i (5) Commence Construction - Un or before Februarv 1, 1999 , f (7) Complete Construction - On or before July 30, 1999 , � � � � � I � ( I I ( i � i I � � I � i 1 I 1 � . I � . � � and fully incorporated l�erein by this refeSancn, represents the im• frama for tho uo� of tha HOM£ iVndc and thn Aav�lopment of the ffordable dwelling unita to be .d�valoped vith the HO?iL lunda ur�uant to this Aqrecment_ V. [S 400) DATE OF FIRST AME}7DHENT AGREEMENT Thza Agreement coasist of ten (10) paqea and onu attachmant nd inteqrates all oP the terma and conditiona mentioned hereln or ncidentel h�rsto, and eupnreedee all nagotlatione or previoua greementa betveen the partlos IN wITHESS KSREOF, tha Adminiotrator and Subrecipient hev� Nxccuted this Aqreement aa of the date first hareinaf�er set lorth. Access Comnunity Houeing, Inc. pete: Ol.Y 7 /99� _... B __- B.eG�-t.f.u� v � �' THfi LYNWOOD RfiDEVELOPMEN'P AGENCY (9ubrecipiant) , � �/,�vvr'✓' � I . .. Date: _ .__.— By: ( Attest: � City Clork y 1 1 ( 1 Perye 9 01 10 I 1 ( � I � I � a ( i � i , ��f�� i��i ' ' . � '. � 4 . ;i' —��_ � � ' ' o.•� iI ,,� t � < , ��4 i � .�,. I - .. . �I � '�� ' n.. a� . . � � /��~--- -r) � e � � ' - � _ i . i: ' � � • '1 I . " ' ' I ' 1 � .. f : ' •' J ---"-` � � � .._ . � �I ' ' 2 .Y , . ; ( ......... , � (��}� � uium�aw�wcven � � • � : � ' 0 �! ' i i ;� �r i � � �M. �f � .. :L ` ` �' �i ri ' 4 � ' � u ,f. i. 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O I `� � � ^.u.caW.a.. ,"/v nnNOp Enl r'�Y� �ti��' . � � ,� ��_ I n r� r'�r I H �y 725I 11 i . .,�::.: �.' _� � n rtt � _, k + ;!'' ��. '� � :� ry:��, �' ,•; . .� ' ' � ' . / '• � V:Y4 ij.; � . 1 � . ��p y �� ; _ �. �� r � ; ,� � � � , �,,i;F�; , . � � �i,:�;+ _ t SECOND FLOOR PLAN �e��s�v�-:ro- M�t �. J M1 I�� 1 � � '�' 1V.F iC =.'�.IIE C•IAZ."y (�� D� Va T11E = E F��u:ry RFL�K� � `I . ' . CJ p��'+. Iv I_IMCt�:1S. Yo..�� ; �y�,r'iS;;:,•�� - } r�J 1111'i �; t E ��' j IN !.(tIL � J'i'�4�i�` - . � � !. . .�,�,+e{ , , . .ii'��♦t� i � ' � ;�'�'�'�'�'� , � . , I h ;: 'y .. , 4�S' i ;�':;" ' �� . .a-, ; � ,�. �++ +� � — — trc� tti�Y}�r�rtt��•io�n��•+�� u� o noor �eo.e I G � t '• �' A � r �1 - �4 � r �I � . / _ a:F. i �� "a" �ri.h "� 6 � I. B — UTILITY r �O /' I I ,��, po,�,.uTO , ROOM �G�R/-4C Op6UEK \ ¢ 1 � ' � Y S � I i ,�� - � � ' " � �GARAGE � ` . s � �� , , ,., ` 1 �� u.mrt,�( Hpw � ' . � I I \ 1i-Sr . . -� / TR - _....�J/.'C , � � S} 1ti (� INR cpJ � Y Q 1HFOUad( u1. &TORAOE ROOM . , - � � I _ I A1 GnRr.4C� I �+ . 4R� P � ` . _ \ . � � � \ , ,4� � ¢ FOYER-- � I � . ' , . �_ _ �. � F 1 _ � _ H+ � \ ! � \�/ � -,ro-�I � �ost a,00w„ r � . � BALKFIOW O , �RRV RUTGK . t _— � g � r t� iHR Ct.�i��" x A� � T�rcD�i�i�Jt 4i��vENT �Al �n[E r�IRhT �c.Dk n t�-0r AEa? . • S r r. rrP � aca«� — — �1 v[Nt TYP . � -- — � 07 NY1 �}�--H'6�{ --- ...., --� -- — — N� — J . . � . i � � ' 33433 SUMMARY REPORT PURSUANT TO SECTION 33433 OF THE CALIFORNIA HEALTH AND SAFETY CODE FOR THE SALE OF REAL PROPERTY TO ACCESS COMMUNITY HOUSING, INC., A NON-PROFIT COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. The Lynwood Redevelopment Agency (the "Agency') proposes to sell for redevelopment purposes certain real property in the Lynwood Redevelopment Project Area A(the "Site"), pursuant to the Cal'rfomia Community Redevelopment Law. The Site is owned by the Agency and is located at 11730 AND 11738 First Street ' and is proposed to be sold to Access Community Housing (the Buyer)") pursuant to a disposition and development Agreement. j I. PUBLIC COSTS The proposed Agreement calls for the Agency to sell the Site, subject to certain terms contained in the proposed Agreement. The Agency's cost to implement the proposed Agreement is limited to staff time invotved with the implementation of the project. The estimated cost of the Site to the Agency is: Real Property Value $60,000 Developer Purchase amount $60,000 Total cost or subsidy $0 The Agency proposes to contribute $0 dollars toward the project. The developer has secured construction funds from the Century Housing Corporation and development funds from the city of Lynwoods HOME Program. The use of these two funding sources will require the developer to sell these units at an affordable sales price to a moderate or low -income family. II. ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED A qualified appraiser has prepared an analysis of the estimated value of the real property interest to be conveyed pursuant to Section 33433 of the Califomia Health 8 Safety Code. The estimated value of the real property interest can be calculated in two ways. One such way is to estimate the value of the interest based upon the highest and � best use of the subject real property where the only peRnitted restrictions are those imposed by zoning. When determined at the highest and best use � permitted under the Lynwood Redevelopment Project Area A Plan, the appraiser has determined that the value of the interest to be conveyed is Thirty Thousand Dollars ($30,000) per lot. A second such way to estimate the value of the interest to be conveyed is to value the interest based upon controls in addition to zoning which are placed upon the subject real property by the Agency in the proposed Agreement and limit the type of uses to which the real property can be devoted. When determined at the use and with the conditions, covenants, and development costs required by the sale as proposed in the Agreement, the appraiser has determined the value to be is Thirty thousand Dollars (530,000). Per lot. 1 I i � I � � III. VALUE OF THE INTEREST PROPOSED TO BE CONVEYED The proposed Agreement calls for the developer to pay the Agency 60,000 for the purchase of the two lots IV. ELIMINATION OF BLIGHT The development of the site is a continuation of the Agency's efforts to eliminate blight in the area. The previous uses on the Site consisted of a single family residence prior to the construction of the I-105 freeway, however the Site has been maintained as a-vacant lot for-several years depFiving the City and Age�cy of any sales tax and tax increment. The Site is currently zoned R1 Single family Residential Zone that complies with the General Plan designation of Single Famity. The proposed use (residential) is a permitted use under both the zoning and the General Plan. Moreover, the proposed project will be designed to maximize its efficiency with respect to parking, landscaping, and overall aesthetics. The proposed housing wili be designed to architecturally enhance the housing stock in the surrounding area. I I I 1 I ( I ` I . � � DAT'E: October 5, 1999 TO: The Honorable Chairman and Members of the Board FROM: Ralph W. Davis III, Interim Executive D'uector ' BY: Alfretta F. Earnest, Director of Finance & Administration ��'� � SUBJECT: F.Y. 1999-2000 Annual Operating Budget PURPOSE: The purpose of this item is to have the Agency Chairman and Board Members adopt attached resolution approving the Agency's Annual Operating Budget for F.Y. 1999-2000. BACKGROU!VD: In accordance with Redevelopment Accounting practices, the Lynwood Redevelopment Agency's Annual Operating Budget is categorized into three (3) fund types: 1) Capital Project Funds a) Redevelopment Operating Funds (12, 18, 22) b) L/M Income Housing Funds (26, 28) 2) Debt Service Funds a) Tax Increment Funds (14, 24) i I ' 3) Special Funds a) Area "A"/Alameda Debt Service Reserve (16) The Agency's F.Y. 1999-2000 Budget reflects a broad range of concerns relative to commercial revitalization, economic development and housing development. Budget workshops were held in July and August to discuss the Agency's resources and the allocation of these resources. A copy of the Redevelopment Agency's Annual Operating i Budget has been made available for public review in the City Clerk's Office. i � ANALYSIS: ( The Agency's FY 1999-2000 Proposed Budget provides for an allocation of $4,414,950 in expenditures and $3,902,600 in projected revenue. I i RECOMMENDATION: Staff respectfully recommends that the Agency Chairman and Board Members adopt the attached resolution entitled: "A RESOLUTION OF THE LYNWOOD ( REDEVELOPMENT AGENCY OF THE CITY OF LYNWOOD ADOPTING THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 1999-2000". I i I � ( _. ( AGEiIDA ITr.t�i y . , �a.,:y `'' , . � I LYNW( OU RGU � VELOPMI� "1' AGI?NCY Fl1NU l3 LANCI? NALYSIS. UMMARY F. Y. I 99-211110 _ _ _._.. ...__ _ _, .. _ . . FY 1999/2000 "PO'fAl. �Y 1999R000 'f0'I'AI. 1?NDINC ..---- -. _. _.. ..... . . .. . ---- - — -. FUND . fUND NAME DF.G OAI. RFVENUM; 'I�RANS-IIV RF,SOUNCF:S EXPF.NUI'fURES 'fRANS-OU'I' ALLOCKfiONS FIINU RAI. .. __ _ . _ ..----- _ . . � . .- - -. _ . . . _ .. . . --'------ ----------`------------------------------------ --°-°---'°---- '--------'--°---- --'-°-----°--`- -'------------"'--- -'------'----------------'-' '-`------------"-- -'----------°----'------ '-`----------`- Cnpilnl ProJecl Fimds: . .. . ...- - - � . �- � - � ---- -- . -- . ..... . . .. 12 Aree"A" Redevelopmenl 0 248,500 789,511n 1 OJ8,100 I U18,10U U I,U18,100 0 ._ . . _ . .. ...._ ... _ . _._ . . . . __ 18 Aree "A" f3onJ Protteds 149,921 7,500 0 152,421 I40,000 0 140,OW 12 421 .. ._ .__. __ . ._ . . _ _... . _. ___ .. 12 Alemede Redevelopmem _ 0 0 )92,65U 192,650 192,650 0 � J92,650 0 __ . . .. . . __ .. __ ____ _ _... .. .. '_' 26_ Amn"A"IJMincomellousing J,103,J62 141,000 J16000 J,560,J62 304050 0 704,050 3,256,J12 28 Alnmedn IJM Income Ilousing 1 J28,694 57 OUO 91,520 1,477,Ifi4 . 202 J50 0 202,J50 1,274,814 _ __- __. . . _ _ _ . __. _ .. ' _ Specinl FunA(cnsb w/firrningrni) � � � . -- ... --- . _. ._---- - -- --... . . . .. _ ..... _ _ � 16 Aren "A•'/Alemcde Speciel 1'und 1.187 299 Sfi O110 0 1.279,299 0 0 0 .\ 1.219 299 Debi Servlce Funda: ' " . _ . . _ . . . . . _ . . ..-- 14 A¢e'A" Tez Incmment 1,195,056 1,630,000 0 2,825 056 897,000 1,105,60U 2,002,600 � 822,q56 _. _ _'___ . _.. . __ 14 AlemedeTezlncrement 27J,966 467,fi00 0 701,Sfi6 � 140,800 484,170 � 624,970 � 76,596 _____________. _.".__________.__ __"_.___"__. "'________.____'_"_ """'__"""""""_'__ ____""__""""_ """""""_'___""" "' '_""""""" _ _ .—_.. _ . .. _... .. _. .. _ . ..____. ..__.__. _. _____. .___.___ 'fOTAI. 7,194,246 2,602,600 I,SR9,770 �1,38fi,GIR 3,1�4,950 I,SR9,770 2,077,150 fi,661,89R • � i RESOLUTION NO. A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF THE CITY OF LYNWOOD ADOPTING THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 1999-2000 WIIEEREAS, the Executive Director has submitted a Proposed Annual Operating Budget for the Fiscal Year 1999-2000; and WHEREAS, the Agency Board Members have reviewed the Proposed Budget; and WHEREAS, the Agency Board Members held several budget workshops to discuss the Annual Operating Budget; and WHEREAS, a copy of the Proposed Budget was made available for Public review in the City Clerk's Office. NOW, THEREFORE, the Aeency Chairman and Board Members of the Lynwood Redevelopment Agency do hereby find, order, and resolve as follows: I Section 1. The Annual Operating Budget for the Fiscal Year 1999-2000 is hereby approved. I I Section 2. The Executive Director, or his designee is hereby authorized to approve any transfer between accounts, provided that: I 1) They are within the same general group of accounts. � 2) They are within the same fund. 3) They do not exceed $10,000 per transfer. Section 3. This resolution shall go into effect immediately upon its adoption. I PASSED, APPROVED AND ADOPTED this _ day of October 1999. I i � RICARDO SANCHEZ, CHAIRMAN Lynwood Redevelopment Agency I ATTEST: � I I Andrea L. Hooper I Secretary ( I i I ' � �. APPROVED AS TO FORM: APPROVED AS TO CONTENT: Ciry Atrorney Ralph Davis, Interim Executive Director I Alfretta F. Earnest Director of Finance & Administration i I I I � I i � ! I A:fdenatne:LRABGRPT I � I . �. � DATE: October s, 1999 T0: Honora�ale Chairman and Members of the Lynwooci Redevelopment Agency ' FROM: Ralph W. Davis, III, Interim City Manager BY: Iris Pygatt, City Treasurer SUBJECT: TREASURER'S QUARTERLY INVESTMENT REPORT PURPOSE: The purpose of this item is to have the lynwood Redevelopment Agency memebers review the Treasurer's Quarterly Investment Report as required by recently State Status. BACKCROUND In response to the crisis caused by the Orange County investment pool, the State Legislature in 1995 enacted SB-564 and SB-866. These laws were enacted as State Statues to impose certain mandates regarding investment with public funds. The statues have imposed the following mandates: 1. Annual adoption of an Investment Policy that incorporates changes mandated by the State. 2. Quarterly Investment Reports presented to the Legislative Body or Board Members. � 3. Restrictions on the use of certain investment instruments. The attached Treasurer's Reports has been prepared to provide the Lynwood Information Inc. members with the following information: 1. Types of investments (including principal, market value, rates, and maturity date). 2. List of various bank accounts with banking institutions. 3. Statement informing each Agency (City, LRA, and LIU that is expected to have sufficient liquid funds to meet its pooled expenditure requirements for the next six (6) months. 4. Statement informing the Council that the investment portfolio conforms with the adopted investment policy. RECOMMENDATION: The City Treasurer respectfully recommends that the Lynwood Redevelopment Agency members receive and file the attached Quarterly Investment Report for the quarter ending June 30, 1999. I � AGENDA iT�;M ( ��. ,,�,,,�. `.. , _... .. : � ., ' . .: � , ;> . , � `P . TREASURER'S ,- , �: � ,. :., :, �: QUARTERLY ,.�., . :.; ;. , ;. . ;;;,,: INVESTMENT , �� , :.. ._ ' i� V •. � , ' ��`:; � REPORT � .�� . . ,.. :, ,,,,; _..:;:,�., :,' . �,.�jr*+�.,�,t. f� , � >� . , :� q , ,ti � ' CITY OF LYNWOOD PORTFOLIO MASTER SUMMARY JUNE 30, 1999 , r; � `'•. YTM ''.�'' BOOK PERCENT OF AVERAGE DAYS 360 386 ,,: ;.: , INVESTMENT VALUE PORTFOLIO TO MATURITY EQUIVALENT f'; ,�� %'' 1 1 �� •' � MANAGE POOL INVESTMENT 16,209,243.59 9424 � '.' �� TREASURY SECURITIES-DISCOUNT 990,856.65 5.76 169 169 169 �. , TOTAL INVESTMENTS AND AVERAGES 17,200,10024 100.00% �i � � . - ' CASH , ';'r,!, .;. ?. ' � , Pasabook/checking - No Yield Totals `�> � ` (nol included in yield calculalions) • �•:- , .�;:.. r .. '� r i' TOTALINVESTMENTS 11,618,623.32 �;, �' ;. i ;�, :;; ' � .. 1 �,,; . �. ; ; / I '. ; .::,, i .� / �, ',. � ; ' �/ I cehlty Ihal thls repoA accuralely reflecis all pooled Inveslment and Is In conlo�mltywflh Ihe ,�_i,�� ;` , Inves�menl policy stalement adopted by the Ciry Councll on Apol 6, 1999. ' r..�. :•� �. � A copy ol this pollcy Is avallable al the olfice of City Clerk. The Investment P�ogram hereln .' . �,� � -R ehown provldes sulliclenl cash Ilow Ilquldiry lo meet 3 months.estlmated expendlWres. ��' ' , � The pdcing ol the secwltles aie doe by Unlon Bank ol Calilomla and Interactive Dala Servlces. �i . t .. ��,°.li � �_� � � . .,� i:.�'.:,:.' . . . . . , 1, ��. J>' i'" ' . ;'-'; . ,,, • , ,7. . CITY OF LYNWOOD , � � INVESTMENT PORTFOLIO DETAILS - INVESTMENTS ' 1 i''.:', ` JUNE 30,1999 ' ,� ... �: INVESTMENT BOOK FACE MARKET STATED YTM MATURITY DAYS '' � ISSUER VALUE VALUE VALUE RATE 350 360 DATE TOMAT , MANAGE POOL INVESTMENT ; LAIF GEN CITY 10,488,60078 70,488,600.78 10,488,60078 5.19 1 7 1 � LAIF LRA 390,175.71 390,175.71 390,175.71 5.19 1 1 1 "�',•'-� .� , LAIF BOND PROCEEDS 5,292,062.06 5,292,062.06 5,292,062.06 5.19 1 1 1 '� US - HIGHMARK 38 405.04 38 405.04 38,405.04 4.37 1 1 1 : 1��' �',:�'� � ;�,. �;f . .. , a:-,.,.: . � ::. ...:. � . �j`i5.. ! TOTAL 16,209,243.58 16,209,243.59 16,209,24J.59 ,qr �.� ; , ,• , ;'"�{! . � ; :j." :, �'.f�'•�.`%I�;�;':' �, TREASURY SECURITY '' ?°•� ' �" BANK OF CALIFORNIA F: �.;,. �� ' U.S. TREASURY BILL 505,000.00 499,571.25 500,621.65 9�9�99 �9 ' %` , �' ' ?' . ��x.,, �. .,;, ' u � '::� ,:;.�;_�,,, .,- U.S. TREASURY BILL 767,000.00 749,087.35 750,670.57 1219/99 99 �'q"' [i:, '� ' : ::. ,,.�R.7::i'r: ��' - , ,.�, ti �,, j TOTAL 1,251,292.22 , ;�' .�:a: � �� 1:� ' 'BILLS ARE PURCHASED AT A DISCOUNT AND MATURE AT FULL FACE VALUE � �3`; 'i��. i!„ � . i �,I'��:j�l` ;: � . . .�� , ., �. .�. �y��: i� 3 "' 1 '; i 4��'-.. ;. CITY OF LYNWOOD RECEIVED INTEREST PAYMENT BY ISSUER � ' . RECEIVED JUNE 30, 1999 i: � '. CURRENT STATED DATE AMOUNT INVESTMENTISSUER BALANCE RATE REC'D RECD LAIF-CITY 10,488,600.78 5.19 4/15199 115,005.17 . LAIF - LRA 390,175.71 5.19 4/15/99 17,378.95 '' rr: �� LAIF-BOND PROCEEDS 5,292,062 06 5.79 4/15199 66,767.92 '' ;�� . �-'" U.S. HIGHMARK 38,405.04 4.37 4/15/99 3,137.47 �i'� i;' , :: � ,� TOTAL 16,209,243.59 20 r. ,: ,, =:;:� � � ,�: �;;, ,,. �., .. .. � . ' - ' 1:. ��. �, ' . . � li�: ::) `: 1) ' ' , , ;�.. ,' `r _ , �'; '; � , ., . , ,:.'�. CIN OF LYNWOOD tNVESTMENT PORTFOLIO DETAILS : ' :,. JUNE30,1999 k • � I'i� �' . ' i �.' L�. r ' ;.. . '� 'ir I. �� J " w � SECURITY PAR FACE MARKET SETTLEMENT MATURITY INTERES YTM ��F�g:j;;i't:. 1.,.. � DESCRIPTION VALUE VALUE VALUE DATE DATE RATE 350 365 �t; �ir`. .,. ,'.,f.. �' ?� U.S. TREASURY BIL 505,000.00 499,571.25 500,621.65 9/9/99 3/11l99 4.5 r: .. U : i,: : (V 1, �:.;.,;: U.S. TREASURY BIL 767,000.00 749,087.35 750,670.57 12/10/98 12/9/99 5.1 �. ;r ,l .�; '� ` `" ��' + TOTAL 1,251,292.22 � �:,�, � �. ; .,:. `:�;.: ;. ,rY:��b;� . '��-,,; : •BILLS ARE PURCHASED AT A DISCOUNT AND MATURE AT FULL FACE VALUE �`,`J .. i1: ,. � �.1 . . .5. 1 ' fF �;i ; ' :.F. .:' � 4 ��:Y�e��•.� . . i,ui ' .:tl':;� ' . . i�. ,' y. �� ; ', t; . ,�,:.�;�. . ��,��,�. . . . _ CITY OF LYNWOOD RECEIVED INTEREST PAYMENT BY ISSUER RECEIVED JUNE 30, 1999 � PAR FACE SETTLEMENT STATED INTEREST INVESTMENT VALUE VALUE DATE RATE RECEIVED � U.S. TREASURY BILL 510,000.00 499,764.22 4115199 3.97 10,235.78 750,000.00 733,785.42 6/10199 4.45 16,214.58 `i ' TOTAL 26,450.36 fi _ ��•i � �'i1 . . . � , . . . � . - . � . ��t'. , . . . _ i. . . , . � � � . - ' ' ..:. ,.�! � . . ' . . _.,. a � : � . . , . . . Y . . � ' . , . . / . � . ' . - .. . . . ' , . � . . ,� . . _ . . . . . . . i. , � . . � , .. � . . . , . . . . .. ' . CITY OF IYNWOOD RECEIVED INTEREST PAYMENT BY ISSUER RECEIVED JUNE 30, 1999 i. • �. , ;, . . FACE AVERAGE MATURITY STATED YIELD INTEREST � INVESTMENT VALUE BOOK VALUE DATE RATE THIS PER. EARNED PASSBOOKS , ; _: CITY-CALIF. UNITED BANK 51,356.15 51,356.15 2.25 2.25 263.01 � CITY-CALIF. UNITED BANK 174,142.15 174,142.15 2.25 2.25 412.11 i. . HCDA CITY-CALIF. UNITED BANK 45,411.06 45,411.06 2.25 2.25 231.99 � LYN. TTEES.HUD. �' LRA-CALIF. UNITED BANK 54,713.36 54,713.36 2.25 2.25 28021 • ALAMEDA TAX INC LRA-CALIF UNITED BANK 2,265.47 2,265.47 225 225 11.60 . LYN.TR.CENTER UNF. WORKERS ACC. LRA BANK OF AMERICA 733,17520 133,175,20 1.00 1.00 411.20 LII-CALIF. UNITED BANK 35 131.38 35 131.38 2.25 2.25 179.92 C , "ti ', � TOTAL 496,194.77 496,19477 1,790:04 � �- � . ',.i ;; ,. . - . , , � � 1 DATE: OCTOBER 5, 1999 TO: HONORABLE CHAIRMAN AND MEMBERS OF THE AGENCY FROM: Ralph W. Davis, Interim Executive Director By: Gary Chicots, Director Community Development Louis Morales, Interim Manager ' Planning & Redevelopment i SUBJECT: PROPOSED EXCLUSIVE NEGOTIATING AGREEMENT ("ENA") BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND SOUTHEAST LOS ANGELES COUNTY CDC ("SELAC-CDC"). I i ' Purpose: I � To seek Agency review and approval of a proposed ENA with SELAC-CDC ! ("Developer'), for the purpose of developing Senior-Housing at the Kai Aloha Motei ; located at 11300 Atlantic Avenue. ' � Facts: i 1. On September 20, 1999, SELAC-CDC submitted a proposal to convert an existing ` motel (Kai Aloha) located to 11300 Atlantic Avenue into Senior-Housing. The proposal called for a joint venture with the Agency. � . �, 2. On September 21, 1999, the Agency reviewed and approved the development ! concept presented by the Developer and directed staff to pursue an Exclusive , Negotiating Agreement ("ENA") with the Developer to be brought back for Agency � consideration. i � 3. A draft of the ENA will be provided at the October 1, 1999, Special Meeting. i I ! Analvsis: � SELAGCDC is a Non-profit organization and has been approved by the City as a ; Community Housing Development Organization ("CHDO"). SELAC is currently j undertaking other projects in Lynwood and is looking to develop Senior Housing with Agency assistance. Should the Agency approve the ENA, the exclusive negotiating � period will allow the Developer to work exclusively with redevelopment staff and work out � the terms of a possible joint venture and will allow staff to analyze and/or draft a project � proforma to determine the extent of Agency participation. The goal would be to work j towards a Disposition and Development Agreement ("DDA") under the ENA and establish : the terms of a DDA for the proposed project. The ENA is for an initial 90-day period. � � � . Recommendation - i ; Staff respectfully respects that after Agency and public review of the ENA document, that i the Agency approve to enter into an Exclusive Negotiating Agreement with SELAGCDC � for the development of Senior—Housing located at 11300 Atlantic Avenue. i ! H:WORD/REDEVELP/LMORALES/SELACENA AGENDA ITEM , � � � :,. ., . RESOLUTION NO. A RE30LUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE EXECUTION OF AN EXCLUSIVE NEGOTIATING AGREEMENT ("ENA") WITH SELAC-CDC ("DEVELOPER") TO DEVELOP SENtOR HOUSING WITHIN REDEVELOPMENT PROJECT AREA "A" AT 11300 ATLANTIC AVENUUE WHEREAS, the Agency is implementing the Redevelopment Plan for Project Area " "A" in fhe City of Lynwood, State of Califomia, adopted by the City Ordinance No. 945 on July 10, 1973, as amended; and � UUHEREAS, the proposed ENA will permit the Developer to obtain financial commitments from outside public/private resources for the proposed project; and � - WHEREAS, the pursuit of the proposed project will assist in the elimination of blight within the Project Area; and �. , WHEREAS, the proposed project will be in furtherance of the implementation of the Redevelopment Plan; and WHEREAS, the proposed project will provide tax increment upon completion of the proposed improvements; and WHEREAS, the site will be developed pursuant to the General Plan and Municipal � Code requirements; and - NOW, THEREFORE, BE IT RESOIVED by the Lynwood Redevelopment Agency . - that: ` . , Section 1. The Lynwood Redevelopment Agency, based on the aforementioned findings and determinations hereby adopts this resolution and authorizes the Executive Director to execute an Exclusive Negotiating Agreement with the Developer. Section 2. This resolution shall go into effect immediately upon its adoption. PASSED, APPROVED, and ADOPTED this 5th day of October, 1999 RICARDO SANCHEZ, CHAIRMAN _ _� _ , _ ATTEST: � Andrea L. Hooper, Secretary Ralph W. Davis, Interim - � Executive Director . � .. _ ..�s APPROVED AS TO FORM: APPROVEO AS TO CONTENT: ' , , Agency Special Counsel Gary Chicots, Director I . Community Development i . I �. .. H:WORDlREDEVELP/LMORALESISELACENA � I. ! I ' � _ �