HomeMy WebLinkAboutRDA Res 05-09 2005-08-08
RESOLUTION NUMBER 05-9
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A RESOLUTION OF THE SEAL BEACH REDEVELOPMENT
AGENCY DIRECTING THE EXECUTIVE DIRECTOR TO
INSTRUCT THE STATE OF CALIFORNIA DEPARTMENT OF
HOUSING AND COMMUNITY DEVELOPMENT TO
AUTHORIZE PAYMENTS FROM THE ESCROW ACCOUNT
FOR THE FUNDING OF STANDARD AGREEMENT 01-
MPROP-68 FOR LEGAL EXPENSES INCURRED AS
STIPULATED
WHEREAS: The Redevelopment Agency of the City of Seal Beach (hereinafter
referred to as ''the Local Public Entity"), a public body, corporate and
politic, pursuant to Community Redevelopment Law, Section 33100,
organized and operated under the Constitution and laws of the State of
California, is eligible to receive a commitment of funds and participate in
the Mobilehome Park Resident Ownership Program (hereinafter referred
to as "MPROP''); and
WHEREAS: The California Department of Housing and Community Development
(hereinafter referred to as the "Department'') is authorized to make loans
for the purpose of financing mobilehome park conversion costs and to
reduce the monthly housing costs for low-income residents to an
affordable; and
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WHEREAS: The Local Public Entity as a co-applicant with Seal Beach Trailer Park
Residents Association submitted to the Department an application for
participation in the MPROP and requested a commitment of funds for a
mobilehome park conversion project located at 313 Welcome Lane, Seal
Beach, California, and
WHEREAS: Such application for participation in the MPROP has been approved and
the City Council authorized the Mayor to execute Standard Agreement 01-
MPROP-68 with the Department on March 14, 2005 by adopting
Resolution 5313; and
WHEREAS: The Local Public Entity in approving the sale of bonds for the acquisition
of the Seal Beach Trailer Park in 2000 contemplated eventual ownership
of the Seal Beach Trailer Park by a resident organization; and
WHEREAS: The Local Public Entity has been aware of the proposed transfer of the
Seal Beach Trailer Park to Seal Beach Affordable Housing Corporation,
and has supported that eventual transfer; and
WHEREAS; The Local Public Entity has received detailed invoices from legal counsel
for.1:/1e purpose of substantiating requests for reimbursement of sueh fees
, "',.
: related to the closing of the MPROP Loan and the transfer of ownership of
.ihe' : 'Seal. ',Beach Trailer Park to Seal Beach Affordable Housing
COJ;poration.
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THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH HEREBY
FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
1. The Seal Beaeh Redevelopment Agency directs the Executive Director to
instruct the State of California Department of Housing and Community
Development to authorize payments from the escrow account upon the
funding of Standard Agreement 01-MPROP-68 for expenses incurred as
set forth below:
Resolution 05-9
TOTAL
AMOUNT AUTHORIZED TO
BE PAID FROM ESCROW
$ 8,512.00
$ 3,815.00
$ 8,500.00
$ 5,000.00
$ 35,307.31
$ 6,435.06
$ 45.000.00
$112,569.37
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DESCRIPTION
Title Fees
Escrow Fees
Bond Counsel
Miscellaneous & Contingency
CMP&R LLP
pCH&S LLp
The Gibbs Law Firm
2. By authorizing tile expenditures indicated above in Item lfrom tile escrow
account for MPROp Loan 01-MPROP-068, the Agency is guaranteed tIIat
the noted payments of closing expenses and legal fees will not occur
unless tile MPROP is funded by the State of California and the funds are
placed into tile appropriate escrow account for disbursement.
3. The Executive Director is hereby authorized to forward a copy of this
Resolution to tile State of Califomia Department of Housing and
Community Development and LINC-CDC.
PASSED, APPROVED AND ADOPTED by tile Redevelopment Agency of tile City of
Seal Beach at a meeting tIIereofheld on the 8t11 day of AUi!llst . 2005, by tile
fullowingvme: I
AYES: AgencyMembers (hli;oo /~?A.a.O-n I~ J ~
NOES: Agency Members '1 ~
ABSENT: Agency Members 'iQ-bnp
ABSTAIN: Agency Members --Jj"oa;t-
ATTEST:
~'/ll~U. J4~1
ctitt Clerk
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF SEAL BEACH
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I, Linda Devine, City Clerk of Seal Beach, Califomia, do hereby certify that tile foregoing
resolution is tile original copy of Resolution Nwnber 05-9 on file in tile office of tile
City Clerk, passed, approved, and adopted by tile Redevelopment Agency of tile City of
Seal Beach, at a regular adjourned meeting thereof held on tIIe.....ID!L day of AUi!llst. 2005.
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it Clerk