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HomeMy Public PortalAbout82-1 - LIDARESOLUTION N0. LIDA 82=1 RESOLUTION OF THE LYNWOOD INDUSTRIAL DEVELOPMENT AUTHORITY ADOPTING BY-LAWS, PROCEDURES AND APPLI- CATION FORMS, AND DESIGNATING OFFICERS. WHEREAS, on May 18, 1982 the City Council of the City of Lynwood adopted Ordinance No. 1167 declaring that an industrial de- velopment authority is needed and shall function in the City of Lynwood; and WHEREAS, by Resolution No. 82-68 the City Council of the City of Lynwood designated itself as the Board of Directors of the Lynwood Industrial Development Authority; and WHEREAS, the California Industrial Development Financing Act authorizes the adoption of By-laws and Procedures by an Indus- trial Development Authority. NOW, THEREFORE, be it resolved by the Lynwood Industrial Development Authority, as follows: SECTION l: The Lynwood Industrial Development Authority hereby adopts the attached By-laws (Exhibit I). SECTION 2: The Lynwood Industrial Development Authority hereby adopts the attached procedures for the submittal and review of industrial development protect applications (Exhibit II). SECTION 3: The Lynwood Industrial Development Authority does hereby adopt the attached industrial development application form (Exhibit III). SECTION 4: The Lynwood Industrial Uevelopment Authority does hereby make the following designation of officers: The Mayor of the City of Lynwood shall serve as the Chairman of the Lynwood Industrial Development Authority, and the Mayor Pro-Tem of the City of Lynwood shall serve as the Vice Chairman of the Authority. Designation of other officers shall.be as specified in the By-laws of the Lynwood Industrial Development Authority. PASSED, APPROVED AND ADOPTED this 2nd day of ~1W Y 19sz. -- -`~~ --. LOUIS A. THOMPSON, CHAIR AN -_'l ~ Industrial Development Authority `ATTEST: Andrea Hooper, City Clerk APPRO ED AS TO CONTENT: ~~ ~ C~~ ~ a d a M. Read, Community Deve opment Director APPROVED AS TO FORM: ~s~ --- David-McEwen 'Cit Attorney U- T is 'L~i_1 FZ_I INDUSTRIAL DEVELOPP4ENT AUTHORITY OF THE CITY OF LYNWOOD BYLAWS ARTICLE I SECTION 100. THE AUTHORITY Section 101. Name of the Authority The name of the Authority shall be the Industrial Development ,Authority of the City of Lynwood. Section 102. Authority h1embers The City Council of the City of Lynwood has declared itself to be the Authority. The Members of the Authority shall be the Members of the City Council as that body is constituted, and shall remain Authority Members only so long as said Members remain on the Council. New Members of the City Council shall automatically become Members of the Authority. Section 103. Compensation of Members Members may receive their actual and necessary expenses, includ- ing traveling expenses incurred in the discharge of their duties. t4embers of the Authority may receive such other compensation as t`e City Council may prescribe consistent with State and local law. Section 104. Business Offices of the Authority Business offices of the Authority shall be in such locations in the City of Lynevood, State of California, as may be selected from time-to-time by resolution or motion of the Authority Members. The principal business offices of the Authority shall be in the City Hall, 11330 Bu11is Road, Lynwood, California 90262, unless and until changed by resolution or motion of the Authority Members. * (As amended and approved by the Lynwood Industrial Development authority on July 2, 1982) -1- ARTICLE II SECTION 200. OFFICERS OF THE AUTHORITY Section 201. Designation of Officer The officers of the Authority shall be the Chairman, the Vice Chairman, the Executive Director, the Deputy Executive Director, the Secretary, the Deputy Secretary, the Treasurer and the Deputy Treasurer. The Chairman and Vice Chairman shall be selected by and from the Authority Members. The City Manager of the City shall serve as the Executive Director; the Redevelopment Manager of the City shall serve as the .Deputy Executive Director, the City Clerk of the City shall serve as the Secretary, the Deputy Clerk of the City shall serve as Deputy Secretary. The Treasurer of the Authority shall be such person as may be designated by the Authority from time to time, and the Deputy Treasurer of the Authority shall be the Deputy Treasurer of the City. The Authority .Members may appoint such other officers (permanent, acting, or temporary) as may be appropriate. The Authority Members may fix and determine-the qualifications and duties of such Authority officers. Section 202. Terms of Officers The Chairman and Vice Chairman shall serve terms ending with the selection of their successors, or until death, resignation or re- movel from .office. The selection of the Chairman and Vice Chairman shall be made at the same time as the annual reorganization of the City Council. The Executive Director, Deputy Executive Director, Secretary, Deputy Secretary, Treasurer and Deputy Treasurer shall hold their respective offices so long as they hold their designated City offices. Section 203. Duties of Officers The Chairman shall preside at the Authority meetings and per- form such other duties 'as are appropriate. The Vice Chairman, in the absence or incapacity of the Chair- man, shall perform the duties of the Chairman. Should the office of the Chairman become vacant, the Vice Chairman shall perform the duties of the Chairman until the Authority Ptembers select a new Chairman. -2- De ut P Iy ExecubivecD'of or incapacity of the Executive of the Executive erector is hereby authcri Director Director. zed to ~ the administration The Executive Directo perform the duties and affairs ' management, and general r is charged tivith of the Authority. supervision of the the business The Secretary shall kee minutes of the Authorit p and maintain records of the Authorit other duties incident to thetings. The Secretary shall also y and Secretary in the absence of ..orfincapacitheofecretary, The Deputyorm all form all of the duties of the Secretary,y the Secretar Y, shall per- and shall ralsorsupervisesthercare and custod aofaall monies outhority Authority. The treasurer shall cause ade uate the accounts of the monies and fiscal transac9ions~ofothecAuthorityutorbe kept and maintained. The Treasurer shall render to the Members of the Authority, semi-annually and at such other times as requested by the the Authority, a Treasurer's report of the Authority's trans- actions and financial conditions. The Treasurer shall submit to the htemhers of the Authority significant information and recommendations concerning the fiscal affairs of the Authority. The Treasurer shall also perform all other duties incidental to the office of the Treasu- rer. The Deputy Treasurer in the absence or incapacity of the Treasurer shall perform all of the duties of the Treasurer. ARTICLE III SECTION 300. EMPLOYEES, AGENTS, AND CONSULTANTS Section 201. Appointment of Employees Agents and Consultants In general, the day-to-day services required by the Authority are to be rendered by City employees. The full extent and nature of such services may be set forth in a contract between the Authority and the City establishing certain City-Authority relationships. In addition to the use of City employees, the Members of the Authority may from time-to-time establish such positions and select and appoint such agents and consultants, permanent and temporary, as it may require and determine their qualifications, duties and com- pensation. -3- Section 302. Compensation of Emaloyezs, Acznts, and Consultants City employees, including the City Manacer, Redevelopment Director, City Clerk, Deputy City Clerk, City Treasurer, and Deputy Treasurer shall receive no compensation for services rendered to the Authority other than such compensation as they receive for their City employment unless otherwise approved by resolution of the Authority and City Council in accordance with law. The Authority Members may fix and determine the compensation of all other Authority employees, aoents, and consultants. ARTICLE IV SECTION 400. GENERAL Section 401. Authority to Bind Authority No Member, officer, agent or employee- of the Authority, without prior authority by a vote of the Authority Members, shall have any power or authority to bind the Authority by a contract, to pledge its credits, or to render it liable for any purpose in any amount. Section 402. Contracts, Deeds and Other Documents Except as otherwise required by 1a w, the Chairman, or in his absence or incapacity the Vice Chairman, shall execute on behalf of. the Authority all contracts, deeds, resolutions anc other documents authorized by the Authority Members. The Executive Director, or in his absence or incapacity, the Deputy Executive Director, is authorized to execute and acknowledge any grant deeds, lease agreements, loan agreements, sublease agreements, deeds of trust, escrow instructions or other instruments with respect to real property either owned by the Authority or in which the Authority has an interest. Tnz SeC1"eta~y shall .attest t0 all SdCh Sig::atllres. NOthine ner21?] contained shall prohibit or be construed to prohibit the Authority Members £rom authorizing any other officer or employee of the Authority to so execute such instruments and documer.~s, Sec~ion 403. Payment of Money, Notes er Other Indebtedness =11 C_e C~:S, G.a. .S Gr Gt'.:=r CrQer _Or t.:e pay;aent Of _!Only, nOt__ _ _ Oth°r eV1dc^Ce G. i~~CcDte d"ic SS _S~..eC iri tha na;~a Gr -4- adjourned to a stated time and place and shall cause a written notice of the continuance or adjournment to be given in the same manner as provided for special meetir.as. A cony cf the order or notice of continuance or adjournment shall be conspicuously posted on or near the door of the place where the meeting was held within 24 hours after the. time of the continuance or adjournment. When a regular, continued, or adjourned regular. meeting is continued or adjourned as provided in this Section, the resulting. continued or adjourned regular meeting is a regular meeting for all purposes. When an order or continuance or adjournment of any meeting .fails to state the hour at which the continued or adjourned meeting is to be held, it shall be held at the hour specified for regular meetings. Any public hearing being held, or any public hearing noticed or ordered to be held at any meeting may by order or notice of continuance or adjournment be continued, recontinued, closed, subject to being reopened at a specified subsequent meeting, adjourned, or readjourned to any .subsequent meeting in the same manner and to the same extent set forth for the continuance or adjounment of meetings. If any meeting or public hearing is continued or adjourned to a time less than 24 hours after the time specified in these Bylaws or in the order or notice of meeting or hearing, a copy of the order or notice of continuance or adjournment shall be posted immediately following the meeting at which the order or declaration of continuance or adjournment was adopted or made. Section 506. Meetings to be Open and Public All meetings of three or more Authority Members at which they intend to take action or to deliberate concerning Authority business shall be open to the public to the extent recuired by law. All persons shall be permitted to attend any such meetings except as otherwise permitted by law. Section 507. Quorum A majority of the Members of the Authority shall constitute a quorum for the purpose of conducting its business, ez:ercisinc its powers, and for all other purposes. A smaller nur~oer of Authority Members may adjourn a meeting from time-to-time until a quorum is present. If a quorum is present action may be taken by the Authority only upon a favorable vote of the majority of the number of Authority Members present. -6 - Section 508. Order of Business The Authority may establish from time tc time the general order Or business at AllthOritg' neeting5. ~= any meet=n G, th°_ Authority Members, by a vote of .a majority of the Members present, may change the order of business. ARTICLE VI SECTION 600. AMENDMENT OF THE BYLAWS The Bylaws shall be amended only with the approval of at least a majority of the Members of the Authority at an Authority meeting,• but no amendment shall be adopted unless at least seven days written notice of the general nature thereof has been sent previously to all Members of the Authority. -7- EXHIBIT Ii LYNWOOD INDUSTRI,4L DEVELOPMENT AUTHORITY PROCEDURES The following statement state law to process an Development Authority. 1. Applicant has an ini ity. If indications form with procedures outlines the basic steps prescribed by.the application through the Lynwood Industrial tial consultation with the staff of the Author seem positive, staff issues the application and fee schedules. 2. Subsequently, the staff will accept a completed application for review and will make a preliminary determination of public benefit criteria and other provisions of law and make recommendations to the Authority. Acceptance of the application in no way obligates the ,4uthority to approve the project. 3. If, on the basis of review under step ~~2, an affirmative determi- nation is made (a) the Authority must certify the application and make a finding of public benefit, (b) a copy of the certified .application is then filed with the City Council, and (c) a notice is published which indicates the acceptance of the appli- cation, the filing with the City Council. The notice also names the company, briefly summarizes the project and states the maximum estimated amount of the bond issue. 4. Upon completion of the steps indicated above, the City Council must take an action to approve or disapprove the application within 45 days. 5. Once the City Council approves the application, the City Clerk certifies the Council action and transmits all supportive materials studies, etc. tc the Authority's staff. At that time, payment of a non-refundable fee of $1,250 will be required. The balance of the processing fee and recovery of any additional costs will be paid at the time of final Authority approval of the issue. 6. Upon certification and transmittal of the City of Lynwood's approval to the Authority's staff, the proposed bond issue to- gether with any required State fees and documentation is trans- mitted to the California Industrial Development Financing ,4d- visor~~ Commission, which is chaired by the State Treasurer, has sixty (60) days from the date of receipt of application to make a determination of approval or disapproval. Such approval or disapproval will be made on the basis of its findings on the following criteria. a. Public benefit of the protect b. Determination of whether the protect er its operation will result in the relocation or abandonment of other facilities within the State. c. Specific conditions relating to financial, credit viability and other detailed characteristics of the bond issue and its sale (these conditions are outlined in Article 5 of the California Industrial Development Financing Act and are similar to the requirements outlined above). 7. The State Advisory Commission transmits its approval or disapprova of the protect of the Industrial Development Authority. 8. If the Authority, the City Council and Advisory Commission all approve the protect and a minimum of 30 days from the filing of public notice have elapsed, the Authority enters into a Protect Agreement with the applicant. A Protect Agreement is a contrali- between the Authority and the applicant to ensure that the apP cant will comply with all osedldevelopmenttandfansched9le of is to include a scope of prop performance. 9. After the Protect Agreement is signed, the Authority, be resolutic approves and issues the bonds. At this time, the balance of the application fee or u of 1% of the bond issue less $1,250, and recovery of any additional costs will be paid by the applicant. It must be noted that the issuance of these bonds constitutes no liability for, and does not affect the credit of, the City or the State. They are special obligation bonds supported only by the credit of the applicant and the soundness of the protect. FEE SCHEDULE The law establishing the Industrial Development Authority permits th Authority to recover processing and administrative costs related to the issuance of the industrial bonds. The Authority will collect an application fee of up to u of 1% of the amount of the bond issue, and will also recover, at the time of issue, any out-of-pocket ex- penses. Within the constraints of these provisions, the Lynwood Industrial Development Authority has developed the following fee schedule to be used in the program: 1. Upon the finding and certification of public benefit by the Authority and the City Council (steps 1-5) and prior to trans- mittal of the application to the California Industrial Cevelop- ment Financial Advisory Commission, a non-refundable fee of $1250 will be required to cover administrative expenses. .This fee is in addition to any required state filina_ fee. At the time of final Authority approval the balance of the ~ of 1% applica- tion fee.must be paid. 2. Other fees may be required in the Protect Agreement to cover additional expenses which have not beer, covered by these processing fees. Exhibit III Office Use Onl Application No. Date Received _ Date Aanroved LYNWCOD INDUSTRIAL DEUII,OPMEN'I' AUTHORITY PRQTECr ELIGIBILITY REVIEW Tire information requested on this form is necessary to process a r~~est for financial assistance from the Lynwood Industrial I~velcpm2nt Authority. Fill in all the blanks using "NONE" or "NOT APPLICABLE" wh.,ere necessary. If fig'.~x~e given is an estimate, put "EST." after the figure. If rare space is needed for any specific answer to a question, use a separate sheet. A11 information submitted in this form will be kept confidential to the extent entitled by law and will not be made public without prior notice to the applicant., Please enclose the last fiscal year-end financial stat,.~nt plus any interim statements if available. The information r~uired may be waived at tP.e discretion of the Executive Director of the AL-thORty. R2tu-n tao signed copies of this application to: Lynwood Industrial Development Authority Concrnuv_ty Development Departrrent ll330 Bullis Road Lynwood, Gz 90262 I. IDENTIFICATION AND DESCRIPTION OF TfiE APPLICA:TT A. Company Identification 1. Official Company Name: Official Mailing Address: Telephone: 2. Business Organization: Corporation Partner- ship Sole Proprietorship or Other (describe) Zs the Company owned by an individual a subsidiary affiliated directly or indirectly with any other organization? - 1 - If a corporation, list state of incorporation _ ar_d dd*_e qualified to do business in California If a partnership, list name of partnership and date of agreement If a subsidiary or af=ilidted with another company give name ment of affiliation of relationship President 3. Officers name and Home address vice President and brief state- Other 3usiness a?filiatiens Secretary `?~r edSllrer Controller Directors - 2 - Vame 4. I..iSt nat'ile and ;'.Cme 3ddreSS Of eCyu'_ty OWnerS Of 1~~ Or ^Ore. I. pdrtnerShlD, 115t ge.^_erdl a:'id 11:'.11 ted DdrtnErS and interest owned by each. T_f trust, list benefi- ciaries. ~ of Ecuitv Home Address Interest Cwned B 5. For publicly-held corporations, show stock exchange on which listed. If traded over tre counter, or on VaSDaQ, please list the mar'{et makers: Comoanv Descriation 1. Standard Industrial Classification (SIC) Code No. of Company: 2. Descripticn of principal products and/or services: 3. List nu.*nber of current full and part-time employees, ar_d payroll, by skill category. Management Skilled Semi-skilled Unskilled Full-time annual Payroll amount Part-ti ~<<e annual Payroll amount - 3 - 4. ..Description of company.'s physical facilities: 5. Financial statements (attach as exhibits) a. For publicly held companies: Copies of the arnuai report to stoc'<holders for each of the last three years; conies of any registration statements, prospectuses and 10-n`s filed with the Securities dnd exchange Coc:nission Wlthln edCh Of th°_ last triree VearS; dnd rppies Of the applicant's last 10-Q and most recent 8-~. b. For all other companies: 1. History and brief description of the applicant, any guarantor, and any subsidiaries, including type of products manufactured, present and future mar'.<ets and prospects. 2. Resume of ma:.agenent and ownership, including age, business experience ,. length of association with company, salary arc other compensation, and dir=_ctors with outside affiliations. 3. Description of any pending litigation. 4. Copies of audited Fiscal year-end statements for preceding three years. - 5. Interim financial statements for periods within sixty days of the application. II . CO.iT~CT Ii7t OR:•SATIO:I P,. Officer to whom all notices and communications concerning the project should be sent: ;tame address: Telephone: - 4 - 9. Legal. counsel to applicant.:- Vame: Address: Telephone: C. ?rincipal bank(s) ;pith names and prone nu_:.bers of contacts there. Vame: Contact: Address: Phone: 3ase : Contact Address: Phcne: D. Independent accountant nor applicant: Firm name: Address: Telephone: III. DESCRI?TION OF TH PROJECT A. Project location and site indormatio;, 1. Address: 2. 3. Size of Site: Description of current improvements on the site, including age, use and size; include pictures i£ available. - 5 4. Estimated useful life of buildings and/or equipment: S. Brief explanation why applicant is undertaking project: 3. Ownership 1. Does applicant own site? ves no. 2. If no, describe lease arrangements, options or other evidence of applicant's permission tc use site, or plans to acquire sit=_. 3. Please attach copies of any credit agreement, debt indenture or other instruments which in any way limits aDD 1lCdn t'S lndebtednes5 Or affects the Sd le, leaSlrg, acquisition or use of property or applicant's proposed operations at t're project. C. Proposed Project 1. Type of project (new facility, expansion, renovation, or acquisition) describe in detail: 2. Estimate time required for construction: Starting date Completion date - 6 - 3._ ?rinc'pol prOduCtS, uses d,^.d dCt1V1t1°_S tO be fiP.d nCeCa (include SLC Code): D. Eligibility of project uses - A statement of eligibility of the project for financing under Section 91503 of tr.e act. attdCh a letter from bORd COllnSel dtteSting tO the prOjeCt'3 eligibility: 1. Project is for industrial uses as described in paragraph (a)(1) of Section 91503, ar.d/or for =_rergy conservation uses as described in paragraph (a)(2) of Section 91503. 2. a statement that the project is not for the uses described under pardgraph (b) of Section 91503. 3. any covenants or bond terms restricting the use of the facilities or property E. Pllbl1C apDLOV31s/Permlt5 Have all required permits, licenses ar.d other aublic dAprOVdlS, (ELR, COP.d].tlOnal u52 per:<<1.t, general elan CCPD l1.dnCe, Dllb liC wO r'.~GS, ZO[77.Rg, lOCal, S tats dnd federal regulations) been obtained? yes no. Lf no, pledse show status dnd expected resolution of incomplete activity Lf yes, please describe F. Bond counsel on proposed project: Firm name: address Phone: ( ) - 7 - G. Please-indicate file estimated Cdpi tal eYpel`idltLlr eS during tale last three VearS wLll Cil were made in file DOli t7.Cal ]L'r15d1Ct'_On (Clty Or llnlnCOrpOrdted COUntV), Of to DrOD052d project for facilities used by the Applicant, or any other proposed occupant of the project cr'ere any Of these expend_tures financed by issuance of industrial development bonds? ves no. If yes, please describe H. :lave any of the Anali,cant's facilities or equipment in other political jurisdictions of the nation been financed by industrial development bonds? yes no. If yes, please describe I~7. COSTS 0: TT:E PROJECT State the costs necessary for tre acquisition of the site and construction of the proposed project togetil=_r with any machinery and equipment in connection therewith, including utilities, access roads, and appurtenant facilities. ~. E%ISTING LAND A~~ID BUILDINGS .......................$ 1. Contract price $ 2. Legal, filing, misc. $ 3. Taxes and fees $ ' Subtotal $ B. ARCHITECTUR.~.I. AND ENGI:IEERIDIG ..................... S - 8 - C. CONSTRUC^t ION COSTS 1. Architectural and engiaeerinc $ 2. Site preparation $ 3. Materials $ 4. Labor $ ~. Construction contracts $ 6. Utilities connection $ 7. Paving and landscaping $ D. .MACHINERY AND EQUIPMENT ......... .......... $ ........ 1. Invoice cost $ 2. Installation $ E. INTEREST DURING C02iSTRCJCTION (FR GM TO ) $ F . FINANCING, LEGAL, i42SCELL?DiEOUS (PLEASE SPECIFY) $ G. CONTI~IGE2ICY (if appropriate) .... .................. $ TOTAL .. .................. 5 idAXI.SUM P~NGUNT OF F UNDS REQUESTED S Note: Project costs may not include working capital; roving expenses; inventory financing; or assumption, repayment, or refinancing or existing indebtedness other than construction loans. V. DESCRIPTIGN OF THE PROPOSED ISSUANCE OF THE BONDS A. Type of alacement; Private Public negotiated B. Proposed terms of the bonds years. - 9 C. Lzdicate method of fir_ancing: 1. Loan OL bOnd DrOCeedS bV I.Ii~71 t0 ACO IiCant Z. Lease of facilities by LIRA to Applicant 3. Installseat sale of facilities by LIr_A to vI. Applicant 4. Other D. Indicate the collateral for the bonds and the method of payment; identify revenues to be used for debt service: E. Identify the groposed purchaser of the bonds, underwriter or placement agent for the Applicant: Name of purchaser: Officer or partner: Address: Telephone: Attach a cony of tentative commitment letter from such prospective purchaser of tentative agreement with such underwriter or glacement agent. F. Will the bonds be issued in exchange for one or more outstanding bonds, or similar claims, or nartl_v in such exchange and partly for cash or property? yes no If yes, describe exchange or refunding DESCRIPTION OF PUBLIC BENEFITS Benefits which would accrue from undertaking .the aroject, pursuant to criteria contained in Section 91502.1. (If applicable, information in this section is to be given for both the Applicant and all other entities that will be principal users of the facilities). - 10 - a. Employment benefits - 1. Indicate full-tire employment and aayroll for various categories: at Project Upon Completion 1 fear after 2 fears after Site Tcdav of Project Completion Completion S J' r j ? $ ?anagement Skilled Semi-skilled Unskilled TOt31 2. If part-time workers will be employed, attach description as above. 3. Estimate, if applicable, increased employment and payroll in related and service fields due to t:.e completion of the project. 4. Indicate, it applicable, anticipated it„pact o*_" the proposed new jobs on problems of severe unemployment or the hard core unes,ployed. 5. Document, if apalicable, that the completion of the project will retain jobs that would otherwise be lost. B. Resource Conservation (if applicable) 1. Explain and document ary estimated conservation of energy, mineral or natural or cultivated resources arising out of the project. 2. Explain and document any reduction of waste, improvement of recovery or intensification of utilization of resources that otherwise would be less inter.sivel_v utilized, wasted or rot recovered. - 11 - C. Consumer benefits (if applicable) 1. ~Yp 131n and dOCll:iie Rt t:7e 1 ip rOVement Oi Clla11 t'! Or QL'3n t1tV OL prO dt2CtS, energy Or re lateQ 3erV 1CeS bV Vlrtue Of COmp12t.10n Of the project. D. Other Benefits 1. F7i11 project contribu*_e to the ima_rove.^..ert of detrimental environment factors? yes no. If yes, attach description. 2. 'Ni11 project contribute to the revitalization of a deteriorated area or will it i..^.crease economic usefulness of an area? ves no. If yes, attach description. 3. Estimate any increased local and state tales, fees and other revenues due to the completion of the project. 4. Estimate any decreases of public service costs by virtue Of completion OL t.^.e pr0]eCt (SliCh dS deCreaSed :Je~L3re or unemployment costs). VII. ?. DESCRIPTION OF ~~IY 2UBLIC DETRIMENT FROiI ISSU?.i~ICE OF 30t1DS IV THE. bL~{Ii!Ubl .-1bi0UNT PROPOSED IN THE APPLIC~TIGN. a. Employment displacement -- will the completion o° the project contribute to job disalacements (such as resulting from site clearance or demise of competing firms? ves no. If yes, attach description. B. Energy, mineral or natural or cultivated resource ~..^.,pact -- will the completion of the project lead to increased utilization of scarce resources? yes no. If yes, attach description. 1. Estimate of increased utilization of resources. 2. Estimate of increases in cost to the public due to increased utilization. C. Does constructien of the project, or commpletion of the project have any adverse environmental imaacts, inclucing additional waste disposal? _yes no. If yes, attach description. 1. Estimate of environmental imaacts. 2. Include copies of any required environmental is~pact reports. - 12 - ~ N • .. .. -_ - D. Ecoramic impact or. the city, county and/or state. ~ EStlmdte types and COSts Ot r.ew Dubi1C 52 r'liCeS required by the project. " 2. analysis of the costs to the city, county ar.d/or state fOr DLliJ11C lmp rover..ents 1riC ludl.,g Ctl li ty, Street improvements, traffic CCntrOl eri:: d.^,C eIi~e nt, 3n d file COSt of financing such improvements. 'v II-T. A DESCRIPTIOD7, IF APPLICABLE, OF THE STATEWIDE SIZE ARID LOCATION OF THE OPERATIONS Cc THE APPLICANT (including related persons and principal users). A. A listing of the current statewide operations of the applicant ircludirg size, location, nu:;,ber o= employees and payroll. B. A listing o' the statewide operations of the Applicant upon COmpletlOn Of th2 project, lncluding size, lccation, nur,.ber of employees ar_d payroll. C. A listing of the statewide operations of the Applicant two ye_rs after completion of the project, including size, location, nuriber of employees and payroll. D. Relocation - If financing is recuired for relocation of a facility within the State of Califo__*aia, documentation that the relocation is due to one of the followine: 1. An inadequacy of the existing facility. 2. A significant change in the firm's operaticr.s thdt would require a different location. 3. A building moratorium where the existing facility is located. 4. The existing lease is expiring and cannot be r=_newed under economic conditions. 5. An economic need to move clos=_r to the_`irm's customers or suppliers. 6. Other. - 13 - IX X IMPORTAPIT NOTICE TO APPLICANT Approval for financial assistance by the Lynwood Industrial Development Authority is determined by the information pre- sented in this application. Any changes in the status of the proposed project from the facts presented herein and the exhibits attached could disqualify the project and cause it to be ineli- gible for financial assistance. In general, commencement of construction or any award of contract with respect thereof, in- cluding equipment therefor, or the execution of any contract for the final acquisition of the proposed project, prior to formal approval by the Authority where such construction or acquisition is to be financed by a tax-exempt issue, is likely to result in the application being ineligible for approval. CERTIFICATION It is hereby represented and certified by the undersigned that to the best knowledge and belief of the undersigned, the informa- tion contained herein and attached hereto is accurate and correct and truly descriptive of the project, the Applicant and any guarantor or other proposed project occupant. APPLICANT: By: Title: DATED: -14- STATE OF CALIFORNIA ) ss. COUNTY OF LOS ANGELES ) I, the undersigned, Secretary of the Lynwood Industrial Development Authority, do hereby certify that the above and foregoing resolution was duly adopted by the said Authority at a regular meeting thereof held in the City Hall of the City of Lynwood on the 2nd day of July 1982, and passed by the following vote: AYES: Authority Member Byork, Green, Morris, Rowe, Thompson Noes: None Absent: None ~~~~ C.~f Secretary LYNWOOD INDUSTRIAL DEVELOPMENT AUTHORITY