HomeMy Public PortalAbout2008.070 (05-06-08)RESOLUTION NO. 2008.070
A RESOLUTION OF THE CITY OF LYNWOOD APPROVING A HOUSING
AGREEMENT BETWEEN HABITAT FO_R HUMANITY OF GREATER LOS ANGELES
AND THE CITY Of LYNWOOD FOR HABITAY TO PURCHASE, REHABILITATE,
DEED RESTRICT, AND RESELL 5525 CLARK STREET AND 3076 REDWOOD
AVENUE TO A HUD QUALIFIED LOW !'NCDME HOUSEHOLD AND AUTHORIZE
THE EXPENDITURE OF HOME'FUNDS FOR THIS PROJECT
WHEREAS, The City of Lynwood administers a Housing Rehabilitation Program
pursuant HUD/HOME guidelines located at Title 24 CFR, Part 92; and
WHEREAS, in accordance with HUD guidelines, the City of Lynwood is requ'i're'd
to reserve and commit 15% of the annual. allocation of its HOME funds to a qualified
Community Housing Development Organization (CHDO) within a 24 month period, and
WHEREAS, The City of .Lynwood has entered into a HO`M`E Program
Participation Agreement with Habitat for Humanity of Greater Los Angeles, Inc. a
qualified CHDO, to assist the City in carrying out the HOME requirements of providing
affordable housing opportunities to low and very low income residents, and
WHEREAS, The City committed $ 656,386 of CHDO funds to Habitaf for
Humanity of Greater Los Angeles, Lnc.:for a project to create low income ownership
housing for Lynwood residents.
NOW, THEREFORE, the City. of Lynwood does hereby resolve as follows:
Section 1. That the Lynwood City Council authorizes the Mayor of the City of
Lynwood to execute an Agreement with Habitat for Humanity of Greater
Los Angeles in a form approved by the City Attorney to create two projects
located at 5525 Clark Street and 3076 Redwood Avenue for low income
households in compliance with all applicable Federal law, HUD
regulations, notices and circulars.
Section 2. The City hereby approves the following transfer of funds:
From:
Unappropriated HOME Funds
To:
Accnt. Number Amount
$402, 590
HOME Property 2961.70.865.66005 $402,590
Section 3. That the City Council direct the and City Treasurer to make the
appropriate electronic transfer of funds prior to May 15, 2008 to escrow
designated for this sale and approved by the City Manager/Executive
Director for the amount of $299,900 for the purchase of 5525 Clark Street
~, of which $201,295 will be derived from Federal HOME GHDO funds.
Section 4. That the City Council direct the and City Treasurer to make the
appropriate electronic transfer of funds prior to May 15, 2008 to Burrow
Escrow or the Escrow designated for this -sale and approved by the° City
Manager/Executive Director for the amount of $315;000 for the purchase
of 3076 Redwood Avenueof which $201,295 will be derived from Federal
HOME CHDO funds.
Section 5. That any overpayment on the purchase of the property shall.:. be
reimbursed by Habitat for Humanity no later than 30 days .from the::date: of
the close of escrow.
Section 6. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED, AND ADOPTED this 6th day of May, 2008.
ATTEST:
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Maria Quinonez, City Clerk
APPROV /D AST FORM:
Fred alante, City Attorney
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Ma is T. Santillan, Mayor
Roger L. Hale ,City Manager
PPROVED AS TO CONTENT:
Lo ry Hempe, Assistant City Manager
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 6t" day of May, 2008.
AYES: COUNCIL MEMBERS, CASTRO, FLORES, MORTON, RODRIGUEZ,
AND SANTILLAN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
/ /`.
Maria Quinonez, Cit 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. 2008.070 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 6t" day of May, 2008
r
aria Quinonez, City Clerk
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