HomeMy Public PortalAbout99.024 LRARESOLUTION NO. 99.24
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LYNWOOD APPROVING QUALIFIED HOMEBUYER TO PURCHASE THE CURRY
TEMPLE STATE STREET AFFORDABLE HOUSING PROJECT LOCATED AT 11420
STATE STREET AND ALLOCATING $27,000 OF REDEVELOPMENT LOW AND
MODERATE INCOME HOUSING SET ASIDE FUNDS FOR THE COMPLETION OF
THE PROJECT.
WHEREAS, The Redevelopment Agency has entered into an agreement with Curry
Temple Community Development Corporation to develop on single family dwelling in agency
property ;and
WHEREAS, The new development has been constructed to provide affordable housing
opportunities for low and moderate families; and
WHEREAS, A eligible family has presented a qualified offer to the agency for
consideration ;and
WHEREAS, The additional funding in the amount of $27,000 is necessary to complete
the repairs prior to the sale of the property and the Agency Set Aside funds are an eligible
funding source for this purpose
WHEREAS, In order to proceed ,funds from the Unappropriated Low Mode Housing Fund need
to be appropriated to carry out the financial assistance of the Development
NOW, THEREFORE, The Redevelopment Agency does hereby resolve as follows:
Section L That the Redevelopment Agency approve the offer to purchase the property located at
11420 State Street.
Section 2. That the Executive Director is authorized prepare and execute the necessary Purchase
and Sale Agreement and to make the following fund appropriation and transfer
FROM TO
Unappropriated Redevelopment
Agency Low Mode Housing Funds
$27,000
Area ALow/Moderate Housing Fund
Account 26-5037
$27,000
,-
Ricardo `Sanchez, Chairman
Andrea L. Hooper, Secre
APPROVED AS TO FORM
an K. The er, Esq
Director
Agency Special Council
~\
Dav~'In{erim Executive Director
APPROVn' AS NTENT
Gary Chicots, Community Development
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned Secretary of the Lynwood Redevelopment Agency (LRA) do
hereby certify that the above and foregoing resolution was duly adopted by the said
Agency at a regular meeting thereof held in the .City Hall of the City of Lynwood on the
18th day of Ma_y , 19, 99 ,and passed by the following vote:
AYES: Director Byrd, Reyes, Richards, Sanchez
NOES: None
ABSENT: Director Rea
~4uZe~. i ;4~
SECRETARY
LYN-WOOD REDEVELOPMENT AGENCY
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the above and foregoing is a full, true and correct copy of Resolution No. LRA
99.24 on file in my office and that said resolution was adopted on the date and by
the vote therein stated.
DATED this 18th day of May , 1999
SECRETARY '
LYNWOOD REDEVELOPMENT AGENCY