HomeMy Public PortalAbout2011.019 - LRA (03-15-11) RESOLUTION NO. 2011.019
JOINT RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF THE
CITY AND THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE
FIRST AMENDMENT TO THE AMENDED AND RESTATED DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE LYNWOOD REDEVELOPMENT
AGENCY AND AMCAL PARK PLACE FUND, L.P. FOR THE DEVELOPMENT OF
AFFORDABLE RENTAL HOUSING UNITS AT ATLANTIC AVENUE AND CARLIN
AVENUE AND ACCEPTANCE OF THE AMENDED 33433 SUMMARY REPORT
WHEREAS, in accordance with the California Community Redevelopment Law
(Health & Safety Code § 33000, et seq.) ("CRL"), the City Council of the City of
Lynwood adopted the Redevelopment Plan for the Redevelopment Project Area "A" in
the City of Lynwood on July 10, 1973, as established by Ordinance No. 945 of the City
Council, and as amended from time to time; and
WHEREAS, on March 16, 2010, to effectuate the Redevelopment Plan, the
Agency approved a Disposition and Development Agreement ("DDA") with AMCAL Park
Place Fund, LP ("Developer") for the disposition of approximately 4.26 acres of land
owned by the Agency at the northeast corner of Atlantic Avenue and Carlin Avenue, as
more specifically described in the DDA ("Site"), from Agency to Developer to allow
Developer to construct a ninety-nine unit affordable housing project with ninety-eight
apartments to be restricted to rent to very low- and low-income households for a period
of 55 years; and
WHEREAS, on May 18, 2010, the City Council approved a HOME Funds
Reservation and Commitment Agreement for the use of $191,711 of HOME Investment
Partnership Program funds ("HOME Funds") received from the United States
Department of Housing and Urban Development ("HUD") to be used to supplement the
funding for the Project pursuant to an Amended and Restated DDA and toward the
development of an assisted income rental unit in the Project in accordance with HUD
rules for the use of HOME Funds;
WHEREAS, on July 1, 2010, the Agency approved an Amended and Restated
DDA with AMCAL Park Place Fund, LP ("Developer") for the disposition of
approximately 4.26 acres of land owned by the Agency at the northeast corner of
Atlantic Avenue and Carlin Avenue to address changes to certain financial terms of the
DDA; and
WHEREAS, Section 33433 of the CRL requires that the Agency Board and the
City Council approve the disposition of the Site by the Agency; that certain findings be
made, and that, where significant changes in funding occur, a"Summary Report" be
prepared and a copy of the proposed DDA be made available for public inspection; and
WHEREAS, the Agency has prepared the required Amended Summary Report
and notice of a joint public hearing of the Agency and City Council concerning the
proposed First Amendment to the Amended and Restated DDA has been given in
accordance with applicable law; and
WHEREAS, on March 15, 2011, the Agency Board and City Council conducted
and concluded a duly noticed joint public hearing pursuant to Section 33433 of the CRL
to consider the First Amendment to the Amended and Restated DDA; and
WHEREAS, all legal prerequisites to the adoption of this Resolution have
occurred.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD,
CALIFORNIA AND THE LYNWOOD REDEVELOPMENT AGENCY DO HEREBY
RESOLVE AS FOLLOWS:
Section 1. The above recitals are all true and correct and are hereby adopted
as findings.
Section 2. That a Mitigated Negative Declaration analyzing the potential
impacts of the development of the project contemplated in the DDA meeting all of the
requirements of the California Environmental Quality Act was adopted and approved by
the Lynwood Planning Commission on February 9, 2010.
Section 3. The First Amendment to the Amended and Restated DDA is
consistent with the Agency's adopted Implementation Plan for Redevelopment Project
Area "A".
Section 4. The First Amendment to the Amended and Restated DDA
comprises the loan agreement evidencing the commitment of $3,000,000 of the
Agency's Taxable Tax Allocation Bonds (Housing Series B) and/or reserve funds toward
development of the 99-unit affordable rental housing Project.
Section 5. The consideration to be paid by the Developer for the Site is not
less than the fair reuse value of the Site at the use and with the covenants and
conditions and development costs authorized by the sale.
Section 6. The development of the Site will assist in the elimination of blight in
the Project Area and will provide housing for very low- and low-income households.
Section 7. The Agency Board of Directors hereby approves the Amended and
Restated DDA and the instruments referenced therein, a copy of which are on file in the
office of the City Clerk.
Section 8. The Agency Chair and Executive Director authorized and directed
to take such actions and execute such documents as may be necessary to implement
and effect this Resolution and the First Amendment to the Amended and Restated DDA
on behalf of the Agency and City.
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 15 day of March, 2011.
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE f
� �
Maria Quinonez, ecretary
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.
2011.019 on file in my office and that said Resolution was adopted on the date and by
the vote therein stated. Dated this 15 day of March, 2011.
i
Maria Quinonez, Secretary
Section 9. The Agency Secretary shall certify to the passage and adoption
hereof.
PASSED, APPROVED AND ADOPTED this 15�' day of March, 2011.
,___ _
; ;
��� ���, �� ,� � �.; �
Aide Castro, Chair
ATTEST:
/
� �
Maria Quinonez, ecretary oge ey, ecutive Director
APPROVED AS TO FORM: APP OVED AS TO CONTENT:
� �
ed alante, Agency Counsel Sarah . Wit ers, Director of
Redevelopment