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HomeMy WebLinkAbout1989-05-23 - RESOLUTIONS - HOUSING AUTHORITY COOP AGMT (2)RESOLUTION NO. 89-60 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA STATE OF CALIFORNIA RESOLUTION ADOPTING COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF LOS ANGELES AND THE CITY OF SANTA CLARITA WHEREAS, there is a shortage of safe and sanitary housing within the County of Los Angeles (the "County") and within the City of Santa Clarita (the "City"), particularly for low and moderate income persons, and a consequent need to encourage the development of multifamily rental housing in the County and in the City; and WHEREAS, the Housing Authority of the County of Los Angeles is authorized by the provisions of Section 34312.3 -of theHealth and Safety Code of the State of California and related provisions (the "Act") to issue revenue bonds to finance the construction or acquisition of multifamily rental housing projects; and WHEREAS, the Housing Authority of the County of Los Angeles has adopted a resolution of inducement for the Sand Canyon Village Project, a multifamily rental housing development consisting of 225 units, located at the corner of Soledad Canyon Road and Oak Springs Canyon Road, partially within the City of Santa Clarita and partially within the unincorporated area of the County of Los Angeles; and in order to permanently finance the Project, the County Housing Authority intends to issue tax-exempt multifamily housing revenue bonds pursuant to the Act; and WHEREAS, the County Housing Authority and the City may enter into an agreement to join or cooperate with one another in the exercise jointly or otherwise of all of their powers under the Act for the purpose of financing the Project. NOW, THEREFORE, BE IT RESOLVED, as follows: 1. The proposed form of cooperative agreement (the "Cooperative Agreement") between the County Housing Authority and the City, in substantially the form attached hereto, is hereby approved. 2. The City Manager is hereby authorized and directed for and in the name of and on behalf of this Council and the City, to execute and deliver the Cooperative Agreement with the County Housing Authority in substantially said form, with such additions thereto or changes therein as he may recommend or approve upon consultation with the City Attorney, the approval of such additions or changes to be evidenced conclusively by the execution and delivery of the Cooperative Agreement. 3. This resolution shall take effect immediately upon its passage and adoption. PASSED AND ADOPTED by the City Council of the City of Santa Clarita, State of California, this 23rd day of May 19 sq, by the following vote: AYES: NOES: ABSENT: ABSTAIN: CLARITA By ravalho, City Manager v t COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF LOS ANGELES AND THE CITY OF SANTA CLARITA THIS COOPERATIVE AGREEMENT (the "Agreement"), dated for convenience as of , is made by and between the Housing Authority of the County of Los Angeles (the "County Housing Authority") and the City of Santa Clarita (the "City"). WITNESSETH WHEREAS, the Housing Authority of the County of Los Angeles is authorized by the provisions of Section 34312.3 of the Health and Safety Code of the State of California and related provisions (the "Act") to issue revenue bonds to finance the construction or acquisition of mulitifamily rental housing projects; and WHEREAS, the Housing Authority of the County of Los Angeles has adopted a resolution of inducement for the Sand Canyon Village Project, a multifamily rental housing development consisting of 225 units, located at the corner of Soledad Canyon Road and Oak Springs Canyon Road, partially within the City of Santa Clarita and partially within the unincorporated area of the County of Los Angeles; and in order to permanently finance the Project, the County Housing Authority intends to issue tax-exempt multifamily housing revenue bonds pursuant to the Act; WHEREAS, the County Housing Authority has determined to cooperate with the City pursuant to Section 34324 of the Act in the exercise of its.powers under the Act for purposes of financing the Project; and NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: SECTION 1. The terms used in this Agreement shall, for all purposes of this Agreement, unless otherwise defined herein, have the meanings assigned to such terms in the Act. SECITON 2. The County Housing Authority agrees to undertake the Program and to issue revenue bonds therefore pursuant to the Act as soon as practicable. SECTION 3. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms, actions, and the intent of this Agreement. Nothing in this Agreement shall prevent the County Housing Authority from entering into one or more agreements with other political subdivisions within the County, if deemed necessary 'and advisable to do so by the County Housing Authority. SECTION 4. This Agreement may be amended by one or more supplemental agreements executed by the County Housing Authority and the City at any time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of any bonds issued by the County Housing Authority pursuant to the Act in connection with the Program. SECTION 5. The term of this Agreement shall extend until the bonds issued to finance the Project are fully paid and retired, or, if bonds are not issued to finance the Program, through December 31, 19901. w IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested to by their proper officers thereunto duly authorized, and their official seals to be herto affixed, all as of the day first above written. [Seal] ATTEST: By Executive Officer -Clerk of The Board of Commissioners APPROVED AS TO FORM: COUNTY COUNSEL By Deputy HOUSING AUTHORITY OF THE COUNTY OF LOS ANGELES By: Chairman of the Board of Commissioners THE CI By ravalho, City Manager [Seal] AT ---- By R1-1 , d