HomeMy Public PortalAbout2011.049 - LRA (12-20-11)RESOLUTION NO. 2011.049
A RESOLUTION OF THE CITY COUNCIL AND THE LYNWOOD
REDEVELOPMENT AGENCY OF THE CITY OF LYNWOOD AUTHORIZING
$306,712.50 FROM THE CITY OF LYNWOOD TO THE U.S. DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT (HUD) AS REPAYMENT FOR
INELIGIBLE FEDERAL HOME PROJECTS AND RESCINDING RESOLUTION
NUMBER 2006.197 APPROVED ON NOVEMBER 7, 2006
WHEREAS, The HOME Investment Partnership Program is a federally
funded program authorized under Title II of the Cranston - Gonzalez National
Affordable Housing Act, and administered by the U.S. Department of Housing and
Urban Development (HUD); and
WHEREAS, The City of Lynwood has been a participant in the federal
HOME Program since approximately 1995; and
WHEREAS, In 2006, prior year HOME Program funds allocated to certain
projects were determined ineligible for various reasons including the absence of
deed restrictions for affordability on HOME units, and therefore the use of such
federal HOME funds was not in compliance with federal guidelines; and
WHEREAS, The City was required to repay HUD a total of $613,425 for the
ineligible HOME projects; submitting half ($306,712.50) of the repayment by
December 30, 2006, and the remaining balance ($306,712.50) no later than
September 30, 2007; and
WHEREAS, The first installment payment in the amount of $306,712.50 was
made by the City to HUD through the US Treasury on December 30, 2006; the
remaining balance ($306,712.50) due to HUD no later than September 30, 2007
was never paid.
NOW THEREFORE, THE CITY OF LYNWOOD AND THE LYNWOOD
REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1 . Authorize the balance due of $306,712.50 be paid to HUD
though a wire transfer to the U.S. Treasury from the Community Development "A"
Fund (Fund Number 1012) in order to resolve the City's past ineligible HOME
Program expenditures.
Section 2 . Authorize the Executive Director, or his designee, to execute,
monitor, and ensure that said payment in the amount of $306,712.50 is properly
received by HUD and resolves the City of Lynwood's outstanding repayment
requirement.
Section 3. In light of the approval by this Resolution of a direct payment
from the City to HUD though a wire transfer to the U.S.Treasury from the
Community Development "A" Fund (Fund Number 1012), the loan authorized under
Resolution Number 2006.197 of the City is no longer relevant or required. As such,
the City Council hereby rescinds Resolution Number 2006.197 approved on
November 7, 2006.
Section 4 . This Resolution shall go into effect immediately upon its
adoption by the City and Redevelopment Agency.
PASSED, APPROVED, and ADOPTED this 20 day of December 2011.
j Jim Morto , Ch irman
ATTEST:
Maria Quinonez, Secretary
APPROVED AS TO FORM:
Fred Galante, Agency Counsel
APPROVED AS TO CONTENT:
Sar&'IM'a!aha Withers, Director of
Community Development
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do
hereby certify that the foregoing Resolution was passed and adopted by the
Agency at its regular meeting held on the 20 th day of December, 2011.
AYES: COUNCIL MEMBERS RODRIGUEZ, SANTILLAWBEAS, ALATORRE
AND MORTON
NOES: NONE
ABSENT: MEMBER CASTRO
ABSTAIN: NONE
Maria Quinonez, Secretary
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do
hereby certify that the above foregoing is a full, true and correct copy of Resolution
No. 2011.049 on file in my office and that said Resolution was adopted on the date
and by the vote therein stated. Dated this 20 th day of December, 2011.
aria Quinonez, Secretary