HomeMy Public PortalAbout2006-004RESOLUTION NO. ~nn(1 D04
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY AUTHORIZING
THE TRANSFER OF FUNDS FROM THE UNAPPROPRIATED FUND BALANCE
(FUND 14) TO PLANNING SERVICES AND HOUSING SET-ASIDE (FUND 26) TO
MISCELLANEOUS EXPENSE
WHEREAS; the Lynwood Redevelopment Agency ("Agency") is a redevelopment
agency duly formed organized and existing pursuant to and -under the provisions of the
State Community Redevelopment Law (the "Law")
WHEREAS, the Agency is engaged in carrying out redevelopment projects(s) in
Project Area "A"; and
WHEREAS, when assembling the FY 2005/06 budget staff allocated $25,650
for Planning services which has proved to be insufficient; and
WHEREAS, certain projects have proved to be more complex than anticipated
and thus have greater staff and consultant needs; and
WHEREAS, additional funding is needed to pay invoices for services rendered
by RSG; and
WHEREAS, the Redwood Estates housing project was executed using HOME
funds; and
WHEREAS, after careful review the project does not meet HUD requirements to
qualify for HOME funds; and
WHEREAS, Rita construction has submitted invoices for payment for the
construction of Redwood estates pursuant to its Disposition and Development
Agreement; and
WHEREAS, an unappropriated fund transfer from Redevelopment Project Area
"A" to cover the above expenditures is required.
NOW, THEREFORE, the Agency does hereby resolve as follows:
Section 1. The Agency Board approves the following transfers from the
unappropriated LRA fund balance from Project Area "A" Tax Increment Fund (14) and
the Project Area "A" Housing Set-Aside (Fund 26).
FROM TO
Unappropriated Project Area °A"
Agency Fund 14 Fund 12-5032
$47,700 $47,700
Unappropriated
Housing Set-Aside Project Area "A"
Fund 26 Fund 12.-5018
$149,000 $149,000
Section 2. Agency Executive Director is hereby authorized to approve
payments to RSG in the amount of $47,700 and Rita Construction in the amount
of $149,000.
Section 3. This resolution shall take effect upon adoption.
PASSED, APPROVED and ADOPTED by the Lynwood Redevelopment
Agency this 17th day of January, 2006.
icia Vasquez,
CHAIRMAN
ATTEST:
~- ,~
Andrea L. Hooper,
Secretary
N. Enri e artinez,
Executive Director
APPROVED AS TO FORM
,.
FZon Wilson
Agency Counsel
APPROVED CONTENT:
Kir ser, Interim ~wpa~a,-fls
Deputy Executive Director ~'` ~~k Pets""
RESOLUTION NO. 2006.004
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY AUTHORIZING
THE TRANSFER OF FUNDS FROM THE UNAPPROPRIATED FUND BALANCE
(FUND 14) TO PLANNING SERVICES AND HOUSING SET-ASIDE (FUND 26) TO
MISCELLANEOUS EXPENSE
WHEREAS, the Lynwood Redevelopment Agency ("Agency") is a redevelopment
agency duly formed organized and existing pursuant to and under the provisions of the
State Community Redevelopment Law (the "Law")
WHEREAS, the Agency is engaged in carrying out redevelopment projects(s) in
Project Area "A"; and
WHEREAS, when assembling the FY 2005/06 budget staff allocated $25,650
for Planning services which has proved to be insufficient; and
WHEREAS, certain projects have proved to be more complex than anticipated
and thus have greater staff and consultant needs; and
WHEREAS, additional funding is needed to pay invoices for services rendered
by RSG; and
WHEREAS, the Redwood Estates housing project was executed using HOME
funds; and
WHEREAS, after careful review the project does not meet HUD requirements to
qualify for HOME funds; and
WHEREAS, Rita construction has submitted invoices for payment for the
construction of Redwood estates pursuant to its Disposition and Development
Agreement; and
WHEREAS, an unappropriated fund transfer from Redevelopment Project Area
"A" to cover the above expenditures is required:
NOW, THEREFORE, the Agency does hereby resolve as follows:
Section 1. The Agency Board approves the following transfers from the
unappropriated LRA fund balance from Project Area "A" Tax Increment ,Fund (14) and
the Project Area "A" Housing Set-Aside (Fund 26).
FROM
Unappropriated
Agency Fund 14
$47, 700
Unappropriated
Housing Set-Aside
Fund 26
$149,000
TO
Project Area "A"
Fund 12-5032
$47, 700
Project Area "A"
Fund 26-5018
$149,000
Section 2. Agency Executive Director is hereby authorized to approve
payments to RSG in the amount of $47,700 and Rita Construction in the amount
of $149, 000.
Section 3. This resolution shall take effect upon adoption.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
ss.
I, the undersigned, Agency Secretary of the Lynwood Redevelopment Agency,
do hereby certify that the foregoing Resolution was passed and adopted by the
Lynwood Redevelopment Agency at a regular meeting held on the 17th
day of January 2005.
AYES: COUNCILMEN BYRD, JOHNSON, PEDROZA, SANTILLAN AND VASQUEZ
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
Agency Secretary
Lynwood Redevelopment Agency
I, the undersigned, City Clerk of the City of Lynwood, and Agency
Secretary of said City, do hereby certify that the above and foregoing is a full,
true and correct copy of Resolution No. 2006 004 on file in my office
and that said Resolution was adopted on the date and by the vote therein stated.
Dated this 17th day of January , 2006.
Ofd-4r~- o~• ~ss-~c~-c-~
Agency-Secretary - -
Lynwood Redevelopment Agency