HomeMy Public PortalAbout2009.029 - LRA (05-19-09)RESOLUTION NO. 2009.028
A JOINT RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AND
THE LYNWOOD REDEVELOPMENT AGENCY APPROVING AN AFFORDABLE
HOUSING AGREEMENT WITH THE WIN PROJECT AND TO INCREASE THE
COMMITMENT BY $22,000 TO PURCHASE, REHABILITATE, AND RESELL A
HOME LOCATED AT 3686 VIRGINIA STREET
WHEREAS, the City of Lynwood receives an annual allocation of HOME funds
from Housing and Urban Development for the purpose of providing affordable housing
to low income families; and
WHEREAS, the City of Lynwood as entered into a Reservation and Commitment
Agreement with WIN in the amount of $400,000 to purchase and rehabilitate properties
for rental to a low income family; and
WHEREAS, WIN has selected a property located at 3686 Virginia Street and is
requesting the amount of $212,280 of HOME funds to effectuate this Affordable
Housing Project; and
WHEREAS, the Agreement approved by WIN complies with the HOME
requirements and enables the City to create appropriate affordable housing; and
WHEREAS, the City is required to expend HOME funds to meet the commitment
and expenditure requirement set by HUD.
NOW, THEREFORE, THE CITY OF LYNWOOD DOES HEREBY RESOLVE AS
FOLLOWS:
Section 1. The City Council authorizes the Mayor to execute the Affordable
Housing Agreement, in a form approved by the City Attorney that would enable the
Lynwood Redevelopment Agency to count the unit as a replacement unit towards the
Redevelopment Agency's Replacement Housing Obligation and meet HOME
requirements, for the purchase, rehabilitation, and resell of the property located at 3686
Virginia Street.
Section 2. The City Council directs the Finance Director and City Treasurer to
make the appropriate electronic transfer of funds to escrow for the amount of $212,280
of HOME Entitlement funds for the purchase of 3686 Virginia Street.
Section 3. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED, AND ADOPTED this 19th day of May, 2009.
..l a~uJ ~~~~
Maria T. Santillan
Chair
ATTEST:
Maria Quinonez
Secretary
APPROVED AS TO FORM:
Fred Galante
Agency Counsel
Roger ale
Executive Director
APPROVED AS TO CONTENT:
City Manager
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the foregoing Resolution was passed and adopted by the Agency at its
regular meeting held on the 19`h day of May, 2009.
AYES: MEMBER FLORES, MORTON, RODRIGUEZ, CASTRO, AND
SANTILLAN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
Maria Quinonez, Secretary
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the above foregoing is a full, true and correct copy of Resolution No.
2009.028 on file in my office and that said Resolution was adopted on the date and by
the vote therein stated. Dated this 19th day of May, 2009.
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Maria Quinonez, Secretary