HomeMy WebLinkAboutResolution No. 7722RESOLUTION NO. 7722
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
APPROVING THE SECTION 108 LOAN APPLICATION AND
AUTHORIZING THE CITY ADMINISTRATOR TO SUBMIT
SUPPLEMENTAL APPLICATION MATERIALS
WHEREAS, the City of Azusa is a sub -grantee of Los Angeles
County under the Urban County Community Development Block Grant
Program, and;
WHEREAS, the City of Azusa is proposing to acquire properties in
pursuit of the redevelopment of a 9± acre site into a commercial
and a mixed commercial/residential development which will result
in economic benefits to businesses and residences in the
immediate downtown area and in the removal of blighting
influences, and;
WHEREAS, the City of Azusa in coordination with the Azusa
Redevelopment Agency are funding the acquisition of properties,
relocation of residences and businesses, demolition of structures
and the construction of public utilities associated with the
project. The cost of these activities are substantial and
require the use of Section 108 loan proceeds as a method of gap
financing for the project, and;
WHEREAS, the City of Azusa proposes to use future grant
entitlements of the Community Development Block Grant Program to
make annual payments of principal and interest on the requested
loan amount of $1.2 million, and;
WHEREAS, to initiate the application for said Section 108 Loan
the City must submit a Section 108 Loan Application and certain
certifications, project descriptions, and other supplementary
materials to the Los Angeles County Community Development
Commission.
NOW THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The City Council of the City of Azusa hereby authorizes the
City Administrator to submit a Section 108 Loan application
on behalf of the City and to submit such additional
information and certifications as may be necessary to
satisfy the application requirements of the Program.
Continued ...................
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Resolution No. 7722
Page Two
2. The City Council hereby certifies that: it is unable to
finance the project but for the Section 108 Loan Guarantee;
neither the City nor the Agency owns land suitable for the
intended use; it possesses the legal authority to commit
CDBG funds for loan repayment and that it will comply with
the requirements of 24 CFR 570.303.
3. The City Clerk shall certify adoption of this Resolution.
PASSED, APPROVED AND ADOPTED THIS 17th DAY OF June, 1985.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the City Council of the City of Azusa at a regular
meeting thereof, held on the 17th day of June, 1985, by the
following vote of the Council:
AYES: COUNCILMEMBERS: CRUZ, COOK, CAMARENA, LATTA, MOSES
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
CERTIFICATION THAT THE CITY OR AGENCY DOES NOT OWN LAND
SUITABLE FOR THE INTENDED USE
The City Council of the City of Azusa hereby certifies that neither it nor the Azusa
Redevelopment Agency currently own land for the intended use.
I, Adolph Solis, City Clerk of the City of Azusa, hereby certify, under penalty of perjury,
that the foregoing action of the Azusa City Council is true and correct and is recorded in
the official minutes on file in the office of the City Clerk, Azusa City Hall.
Executed this 17thday of June
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City C rk
1985, in Azusa, California.
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CERTIFICATION THAT THE CITY IS UNABLE TO FINANCE
THE PROJECT WITHOUT THE LOAN GUARANTEE
The City Council of the City of Azusa, as the borrower, hereby assures and certifies with
respect to the application for loan guarantee assistance made by the County of Los Angeles
on behalf of the City, pursuant to Section 108 of the Housing and Community Development
Act of 1974, as amended, that it has made efforts to obtain financing for activities described
therein without the use of such assistance. Further, the City cannot complete such
financing consistent with the timely execution of its program plans without such assistance.
I, Adolph Solis, City Clerk of the City of Azusa, hereby certify, under penalty of perjury,
that the foregoing action of the Azusa City Council is true and correct and is recorded in
the official minutes on file in the office of the City Clerk, Azusa City Hall.
Executed this 17th day of June 1985, in Azusa, California.
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City C)erk
CERTIFICATION OF LEGAL AUTHORITY AND COMPLIANCE
WITH 24 CFR SECTION 570.303
The City Council of the City of Azusa hereby certifies that it has the legal authority to
make the pledge of Community Development Block Grants required for the repayment of a
Section 108 loan. As a subrecipient in the Los Angeles County Urban County Community
Development Block Grant Program, the City will repay the loan according to an approved
payment schedule and from Community Development Block Grant funds received as a
subrecipient of the County program. The City also certifies that it will comply with all
requirements of 24 CFR Section 570.303.
I, Adolph Solis, City Clerk of the City of Azusa, hereby certify, under penalty of perjury,
that the foregoing action of the Azusa City Council is true and correct and is recorded in
the official minutes on file in the office of the City Clerk, Azusa City Hall.
Executed this 17thday of June 1985, in Azusa, California.
City C k
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