HomeMy Public PortalAbout2011.264 (12-20-11)RESOLUTION NO. 2011.264
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'I) 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 2,006, 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 City Manager 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 20th day of December 2011.
ATTEST:
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Maria Quinonez, City Clerk
APPROVED AS TO FORM:
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Fred Galante, City Attorney
'Jim Morton, Mayor
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APPROVED AS TO CONTENT:
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a ag ithers, Director of
Community Development
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 20t day of December, 2011.
AYES: COUNCIL MEMBERS RODRIGUEZ, SANTILLAWBEAS, ALATORRE
AND MORTON
NOES: NONE
ABSENT: COUNCIL MEMBER CASTRO
ABSTAIN: NONE
Maria Quinonez, City Clerk
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2011.264 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 20th day of December,
2011.
j
Maria Quinonez, City Clerk