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HDC - Item 1 - Approval Of Partnership With The City of Rosemead for Use Of Home FundsTO: PRESIDENT AND MEMBERS OF THE ROSEM �AD HOUSING DEVELOPMENT CORPORATION FROM: BILL C WE, EXECUTIVE DIRECTOR DATE: JULY 20, 2004 SUBJECT: APPROVAL OF PARTNERSHIP WITH THE CITY OF ROSEMEAD FOR USE OF HOME FUNDS In Fiscal Year 1996, the City of Rosemead became an entitlement jurisdiction for HOME funds. HOME funds are federal funds restricted to the creation of affordable housing. Under this program, the City is entitled to a formula share of HOME funds. The City's annual allocation is a little over $500,000 per year. Of the total amount, 15% must be set aside for Community Development Housing Organizations (CHDO's). Since 1996, the City was successful in using HOME funds in the acquisition and construction of the Garvey senior housing development. However, beginning in 1999, the City has had difficulty in finding eligible projects in which to expend the funds. HOME funds are highly restrictive and must be obligated for expenditure within twenty -four (24) months of receipt of funds or they are subject to recapture by the federal government. Background and Discussion The City has created the Mortgage Assistance Program (MAP) and the Housing Development Fund using HOME funds. Of the funds set aside for the Housing Development Fund, $500,000 must be committed by July 31, 2004 or they will be recaptured by the U.S. Department of Housing and Urban Development (HUD). HOUSING AGENDA JUL 2 7 2004 ITEM No. A , Fwa � Rosemead Housing Development Corporation RHDC 8838 E. Valley Blvd., Rosemead, CA 91770 • (626) 569 -2100 Fax (626) 307 -9218 TO: PRESIDENT AND MEMBERS OF THE ROSEMHOUSING DEVELOPMENT CORPORATION FROM: BILL C WE, EXECUTIVE DIRECTOR DATE: JULY 20, 2004 SUBJECT: APPROVAL OF PARTNERSHIP WITH THE CITY OF ROSEMEAD FOR USE OF HOME FUNDS In Fiscal Year 1996, the City of Rosemead became an entitlement jurisdiction for HOME funds. HOME funds are federal funds restricted to the creation of affordable housing. Under this program, the City is entitled to a formula share of HOME funds. The City's annual allocation is a little over $500,000 per year. Of the total amount, 15% must be set aside for Community Development Housing Organizations (CHDO's). Since 1996, the City was successful in using HOME funds in the acquisition and construction of the Garvey senior housing development. However, beginning in 1999, the City has had difficulty in finding eligible projects in which to expend the funds. HOME funds are highly restrictive and must be obligated for expenditure within twenty -four (24) months of receipt of funds or they are subject to recapture by the federal government. Background and Discussion The City has created the Mortgage Assistance Program (MAP) and the Housing Development Fund using HOME funds. Of the funds set aside for the Housing Development Fund, $500,000 must be committed by July 31, 2004 or they will be recaptured by the U.S. Department of Housing and Urban Development (HUD). HOUSING AGENDA J U L 2 7 2`004 ITEM No. In FY 2003 -2004, the City created the Zapopan Park Target Area as a result of input from residents of the area. As part of the activities in the Target Area, the City began a proactive code enforcement program for residential properties within the area. Since that time, the City has conducted 123 inspections of properties. 26 owners have since complied with the City's requests and made all corrections. 96 cases are still open and pending' Of those, approximately, ten buildings are multi - family properties that need more rehabilitation than the owners are able to provide. The Zapopan Park Target Area is located in an eligible low- moderate income area of the City. Because of this, it is feasible to use HOME funds for a multi - family residential rehabilitation program for these properties. The City is proposing that the RHDC enter into a commitment agreement with the City of Rosemead for $500,000 in HOME funds at risk of recapture in order to provide, rehabilitation opportunities for these properties. The project will provide that: 1. The RHDC prepare final program guidelines, loan and deed documents in a form acceptable to the City; 2. That the RHDC conduct outreach to affected multi - family properties for participation; 3. That units be rented to HOME - eligible households; 4. That the rehabilitation be done as a deferred loan secured by a Deed of Trust; 5. That any loan provided require maintenance and management covenants, including a covenant not to allow criminal activity on the premises; 6. That an annual inspection and income verification process be performed; 7. That the loan be forgiven after ten (10) years if the owner complies with all requirements and covenants. Attached for your review are the following: 1. Draft Commitment Agreement 2. Proposed Program Points HOME Partnership, 2 RECOMMENDATION: 1. That the Commission approve the partnership with the City of Rosemead; and 2. Authorize the Executive Director or designee to execute all agreements. li.. d; HOME Partnership, 3 ZAPOPAN TARGET AREA: MULTI- FAMILY REHABILITATION Program Points July 2004 INTRODUCTION: The following represents basic program points for a multi- family rehabilitation program to be provided by the Rosemead Housing Development Corporation (RHDC) using HOME funds in support of the Zapopan Park Target Area. The RHDC, if awarded funding will complete program guidelines, loan documents, deed of trusts and covenants in order to provide multi - family rehabilitation to buildings with three (3) or more rental units that have been cited for health and safety and other code violations. PURPOSE: To improve safety and security for Rosemead residents living in multi - family housing in the Zapopan Park Target Area, with preference given to properties on Langford Place. To assist landlords /owners in correcting health and safety code violations as a result of code enforcement activities in the Zapopan Park Target Area. ELIGIBLE PROPERTIES: Multi- family housing of three (3) or more units, that have been cited for code violations in the Zapopan Target Area. The Zapopan Target Area is the residential neighborhood bounded by Hellman on the north, Walnut Grove on the east, Garvey on the south and San Gabriel on the west. Several of these owners have begin making corrections, but cannot complete them due to a lack of funds. ELIGIBLE. IMPROVEMENTS: Funds must first be used to correct any potentially hazardous conditions, including structural, electrical, plumbing problems, etc. If funds remain after correcting these deficiencies, general property improvements, including interior improvements, may be performed. All items must be of medium grade. Luxury items, such as swimming pools, are not eligible. MULTI- PROPERTY INCENTIVE: In order to encourage the rehabilitation of properties in the area, an incentive will be provided when a group or consortium of owners simultaneously rehabilitate at least two (2) properties. In these cases, additional improvements can be made, including parking and street repairs (if the street is privately owned). TYPE OF ASSISTANCE: The form of rehabilitation assistance would be a deferred loan secured by a deed of trust and covenants. The maximum amount of assistance without a multi - property incentive would be $30,000 per unit (for example: six HOME units could not exceed $180,000). The maximum amount of assistance with a multi - property incentive would be $50,000 (or $300,000 for six HOME units). Total amount of loan would be based on Zapopan Multi- family Rehabilitation, page 1 estimate to complete work, up to the maximum amount and based on equity in the property, equivalent equity of the owners or other equivalent test and based on minimum and maximum HOME per unit costs. If the project were to require additional monies and the RHDC and /or City determines that such a loan would be in the best interest of the City, the RHDC shall request a waiver of the per unit limitation from the City Council. However, the eligible per unit amount could not exceed the maximum HOME per unit investment threshold. Owners would enter into an Owner Participation Agreement (OPA) in addition to a Note. Deed of Trust and Covenants. TERMS OF ASSISTANCE: The term of the, loan would be ten (10) years. Similar to our commercial loan programs, at the end of the ten (10) years,-if the owners have complied with all requirements of the program, the owners could request that the loan be forgiven. Owners would also agree that 90% of HOME - assisted units be below 60% of median income and that 10% would be below 80% of median. Not all units must be HOME - assisted. This would vary based on the amount of funding provided by the owner. Rehabilitation projects of 12 or more units would be subject to Davis -Bacon prevailing wage requirements. Properties would be . inspected one time per year by City staff and the owner must provide annual income verification on the HOME unit properties. COVENANTS: Owners would covenant the property against discrimination and against allowing criminal activity on the premises. Owners would also agree to a covenant requiring regular maintenance and repair of the improvements. Covenants would give the City the right to inspect the premises at least annually and to request the owners to make required repairs. If the owner does not make.the repairs, owner will covenant that the City or its agent has the right to enter the premises to effect repair and to bill the owner. If the owner does not repay the City, the owner will covenant that the City has a right to lien the property to recover repair fees. SOURCE OF FUNDING: The source of funding for the program would come from federal HOME funds, administered by the Rosemead Housing Development Corporation (RHDC). Zapopan Multi- family Rehabilitation, page 2 CITY OF ROSEMEAD HOME Program Commitment Agreement THIS AGREEMENT made and entered into this July 27, 2004, by and between Rosemead Housing Development Corporation, (hereinafter "AGENCY ") and the City of Rosemead, a municipal corporation (hereinafter "CITY "). WITNESSETH WHEREAS, AGENCY is a non - profit organization that provides affordable housing opportunities within the City of Rosemead; WHEREAS, CITY is the administrator of federal funds which may be used to provide assistance to non - profit organizations that will benefit low -to- moderate income residents. WHEREAS, AGENCY desires to provide multi- family rehabilitation opportunities within the City's Zapopan Park Target Area. Said area is bounded by Garvey on the south, Hellman on the north, Walnut Grove Avenue on the east and San Gabriel Boulevard on the west; NOW, THEREFORE, for and in consideration of their mutual promises, the AGENCY and the CITY hereby agree as follows: CITY shall make available to AGENCY the amount of FIVE HUNDRED THOUSAND DOLLARS ($500,000) for rehabilitation of rental properties of over three (3) units in the Zapopan Park Target Area that have health /safety and other code violations. Such rehabilitation assistance shall be in the form of a deferred loan to the owners of said property. The loan documentation shall be in a from approved by the CITY, including, without limitation, the Note and Deed of Trust, including provisions enforcing HOME affordability requirements, maintenance and management covenants and regarding assignment of rents and profits and assignment of AGENCY'S interest in all governmental permits and construction contracts obtained for development of the improvements. FINANCING: AGENCY agrees to use the grant proceeds only for paying the cost of rehabilitation construction and to finance any additional costs and expenses using other funds. CITY's commitment to disburse funds is subject to the following: a. AGENCY securing agreements to participate from owners, environmental . clearances and permits necessary for rehabilitation of properties; Commitment Agreement, page I b. Evidence that units will be rented by eligible low, income residents in conformance with HOME requirements and that annual tracking of resident incomes is performed in accordance with HOME requirements; c. Evidence that adequate equity funds are available to fund any portion of the development costs that are not funded by the rehabilitation loan; d. In the performance of this Agreement, the AGENCY shall cause CITY to be named as an additional insured under any and all liability policies secured with respect to any rehabilitation project. AGENCY shall provide CITY with evidence of insurance to the satisfaction of CITY. 3. HOME REQUIREMENTS: The provisions of the HOME regulations are incorporated into this Agreement by reference and AGENCY agrees to comply with all such terms. The CITY and AGENCY in the performance of this Agreement shall take all actions necessary to assure compliance with the provisions of the National Environmental Policy Act of 1969, Title VI of the Civil Rights Act of 1964, Title VII of Civil Rights Act of 1968, Section 3 of the Housing and Urban Development Act of 1968, as amended, The Fair Housing Act, the Act, and all other applicable laws and regulations. 5. MARKETING: AGENCY shall ensure that the project is open to applicants from the CITY of Rosemead jurisdiction. CITY shall be responsible for disseminating any marketing materials for the project within its own jurisdiction. AGENCY shall ensure that, in accordance with HOME requirements, that AGENCY has an affirmative marketing plan that meets federal requirements. 6. INDEMNIFICATION: AGENCY shall indemnify, defend and hold harmless, the CITY its officers, agents, or employees from and against any loss, liability, or expense from defense costs, legal fees, and claims for damages that may arise or result from the wrongful acts or omissions or the allegedly wrongful or negligent acts or omissions of the AGENCY, its officers, agents or employees. 7. FAIR HOUSING: The CITY and AGENCY agree that HOME Program funding for any activities in or in support of any cooperating CITY that does not affirmatively further fair housing within its own jurisdiction, or that impedes CITY action to comply with its fair housing certification, is prohibited. 8. EMPLOYMENT DISCRIMINATION: AGENCY shall not discriminate against any employee or application for employment because of race, color, religion, sex, national origin, age, familial status or handicap. AGENCY shall take affirmative Commitment Agreement, page? action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color religion, sex, national origin, age, familial status or handicap. Such action shall include, but not be limited to, the following: employment, upgrading, demotion ortransfer, recruitment or recruitment advertising, layoff or termination, rate of pay or other forms of compensation and selection for training including apprenticeship. AGENCY agrees that contractors for any rehabilitation will post in conspicuous place available to employees and applicants for employment, notices setting forth the provisions of this non - discrimination clause. AGENCY shall, in all solicitations or advertisements for employees placed by or on behalf of AGENCY, state that all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, familial status or handicap 10. INSPECTION OF RECORDS: CITY and the United States Government and /or their representatives shall have access for purpose of monitoring, auditing, and examining AGENCY'S activities and performance, to books, documents and papers, and the right to examine records of AGENCY'S sub - contractors, bookkeepers and accountants, employees in regard to said loan. CITY and the United States Government and /or their representative shall also schedule on -site monitoring at their discretion. Monitoring activities may also include, but are not limited to, questioning employees and entering any premises or any site in which any activity funded hereunder are conducted or in which any of the records of AGENCY are kept. Nothing herein shall be construed to require access to any privileged or confidential information as set forth in Federal or State law. In the event AGENCY does not make the above - referenced documents available to the City of Rosemead, California, AGENCY agrees to pay all necessary and reasonable expenses incurred by CITY in conducting any audit at the location where said records and books of account are maintained. 11. ASSIGNABILITY. AGENCY shall not assign or transfer any interest in this AGREEMENT, whether by assignment, delegation or novation, without the prior written consent of CITY. 12. AGREEMENT: This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto and contains all the covenants and agreements between the parties with respect to the conditions of said services and funding in any manner whatsoever. Each party to this Agreement acknowledges that no representations, inducements, promises or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that no other agreement or amendment hereto shall be effective unless executed in writing and signed by both CITY and AGENCY. Commitment Agreement, page 3 IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and year first set forth hereinabove. M CITY OF ROSEMEAD ROSEMEAD HOUSING DEVELOPMENT CORPORATION APPROVED BY CITY ATTORNEY: Commitment Agreement, page 4 ZAPOPAN TARGET AREA: MULTI - FAMILY REHABILITATION Program Points July 200 INTRODUCTION: The following represents basic program points for a multi- family rehabilitation program to be provided by the Rosemead Housing Development Corporation (RHDC) using HOME funds in support of the Zapopan Park Target Area. The RHDC, if awarded funding will complete program guidelines, loan documents, deed of trusts and covenants in order to provide multi - family rehabilitation to buildings with three (3) or more rental units that have been cited for health and safety and other code violations. PURPOSE: To improve safety and security for Rosemead residents living in multi - family housing in the Zapopan Park Target Area, with preference given to properties on Langford Place. To assist landlords /owners in correcting health and safety code violations as a result of code enforcement activities in the Zapopan Park Target Area. ELIGIBLE PROPERTIES: Multi- family housing of three (3) or more units, that have been cited for code violations in the Zapopan Target Area. The Zapopan Target Area is the residential neighborhood bounded by Hellman on the north, Walnut Grove on the east, Garvey on the south and San Gabriel on the west. Several of these owners have begin making corrections, but cannot complete them due to a lack of funds. ELIGIBLE IMPROVEMENTS: Funds must first be used to correct any potentially hazardous conditions, including structural, electrical, plumbing problems, etc. If funds remain after correcting these deficiencies, general property improvements, including interior improvements, may be performed. All items must be of medium grade. Luxury items, such as swimming pools, are not eligible. MULTI- PROPERTY INCENTIVE: In order to encourage the rehabilitation of properties in the area, an incentive will be provided when a group or consortium of owners simultaneously rehabilitate at least two (2) properties. In these cases, additional improvements can be made, including parking and street repairs (if the street is privately owned). TYPE OF ASSISTANCE: The form of rehabilitation assistance would be a deferred loan secured by a deed of trust and covenants. The maximum amount of assistance without a multi - property incentive would be $30,000 per unit (for example: six HOME units could not exceed $180,000). The maximum amount of assistance with a multi - property incentive would be $50,000 (or $300,000 for six HOME units). Total amount of loan would be based on Zapopan Multi- family Rehabilitation, page 1 estimate to complete work, up to the maximum amount and based on equity in the property, equivalent equity of the owners or other equivalent test and based on minimum and maximum HOME per unit costs. If the project were to require additional monies and the RHDC and /or City determines that such' a loan would be in the best interest of the City, the RHDC shall request a waiver of the per unit limitation from the City Council. However, the eligible per unit amount could not exceed the maximum HOME per unit investment threshold. Owners would enter into an Owner Participation Agreement (OPA) in addition to a Note, Deed of Trust and Covenants. TERMS OF ASSISTANCE: The term of the loan would be ten (10) years. Similar to our commercial loan programs, at the end of the ten (10) years, if the owners have complied with all requirements of the program, the owners could request that the loan be forgiven. Owners would also agree that 90% of HOME - assisted units be below 60% of median income and that 10% would be below 80% of median. Not all units must be HOME - assisted. This would vary based on the amount of funding provided by the owner. Rehabilitation projects of 12 or more units would be subject to Davis -Bacon prevailing wage requirements. Properties would be inspected one time per year by City staff and the owner must provide annual income verification on the HOME unit properties. COVENANTS: Owners would covenant the property against discrimination and against allowing criminal activity on the premises. Owners would also agree to a covenant requiring regular maintenance and repair of the improvements. Covenants would give the City the right to inspect the premises at least annually and to request the owners to make required repairs. If the owner does not make the repairs, owner will covenant that the City or its agent has the right to enter the premises to effect repair and to bill the owner. If the owner does not repay the City, the owner will covenant that the City has a right to lien the property to recover repair fees. SOURCE OF FUNDING: The source of funding for the program would come from federal HOME funds, administered by the Rosemead Housing Development Corporation (RHDC). Zapopan Multi- family Rehabilitation, page 2 RHDC MEMORANDUM Vl — FROM: EXECUTIVE DIRECTOR DATE: JUNE 15, 2004 RE: EXPLANATION REGARDING WARRANT NO. 1458 - REIMBURSEMENT FOR CITY SERVICES, GROUND LEASE AND SALE OF EARLE AVENUE PROPERTY FOR FISCAL YEAR 2003 -04 As part of the warrant register for the Rosemead Housing Development Corporation of June 22, 2004, RHDC Director's will consider Check No. 1458 in the amount of $551,040 payable to the City of Rosemead. This payment is intended to reimburse the City of Rosemead for services provided to the RHDC, in the amount of $219,600 and for ground lease payment, in the amount of $146,400, for fiscal year 2003 -04. As always we have provided you with supportive documentation on this amount. The City services and ground lease payment is for both the Angelus and Garvey Senior Housing. Attached is a copy of the worksheet and a sample timesheet that staff developed with the City Auditor and the City Attorney as being an acceptable method of tracking costs associated with Housing projects and programs. Also attached is a copy of the original memorandum from the RHDC Attorney, David Kroot, confirming that the $150,000 is a reasonable figure. The payment for $187,210.28 is for the net sale proceeds from the sale of 4623 Earle Avenue. The property gross sales were $252,253.54, purchase price of the property paid by the RHDC was $65,043.26, and the lost interest factor or $2,170.28 resulting in net sales of $185,040.00. Attached is a copy of the sale proceeds and payment for the property. If you have any questions regarding this, please let me know. Rosemead Housing Developmen Corporation 8838 E. Valley Blvd., Rosemead, CA 91770 • (626) 569 -2100 Fax (626) 307 -9218 i RHDC MEMORANDUM FROM: EXECUTIVE DIRECTOR DATE: JUNE 15, 2004 RE: EXPLANATION REGARDING WARRANT NO. 1458 - REIMBURSEMENT FOR CITY SERVICES, GROUND LEASE AND SALE OF EARLE AVENUE PROPERTY FOR FISCAL YEAR 2003 -04 As part of the warrant register for the Rosemead Housing Development Corporation of June 22, 2004, RHDC Director's will consider Check No. 1458 in the amount of $551,040 payable to the City of Rosemead. This payment is intended to reimburse the City of Rosemead for services provided to the RHDC, in the amount of $219,600 and for ground lease payment, in the amount of $146,400, for fiscal year 2003 -04. As always we have provided you with supportive documentation on this amount. The City services and ground lease payment is for both the Angelus and Garvey Senior Housing. Attached is a copy of the worksheet and a sample timesheet that staff developed with the City Auditor and the City Attorney as being an acceptable method of tracking costs associated with Housing projects and programs. Also attached is a copy of the original memorandum from the RHDC Attorney, David Kroot, confirming that the $150,000 is a reasonable figure. The payment for $187,210.28 is for the net sale proceeds from the sale of 4623 Earle Avenue. The property gross sales were $252,253.54, purchase price of the property paid . by the RHDC was $65,043.26; and the lost interest factor or $2,170.28 resulting in net sales of $185,040.00. Attached is a. copy of the sale proceeds and payment for the property. If you have any questions regarding this, please let me know. I 1458; ul ROSEMEAD HOUSING DEVELOPMENT CORP. R; f ' 8838 E. VALLEY BLVD. 818 - 288-6671. - - 90_397711222 ROSEMEAD, CA. 91770 .� ". r.\. r T" CITY OF ROSEMEAD - -- -- -- -- - 551,040.00 * ** FIVE HUNDRED FIFTY-ONE _THOUSAN .FORTY DOLL ARS * * * * * * * * * * ** * * * * " * * * * * *r * * * * ** - -- FIRSTS €� �MERICAN }}� 8BU EAST VALLEY BLVD. ** ROSEMEAD. CALIFORNIA 81918 1180Oi4S8it• i:12223947Sl:: 0.L110324.21 - --_:_ - CITY OF ROSEMEAD 883'8 East Valley Boulevard Rosemead, CA 91770 (626) 569-2100 TO: . . I ROSEMEAD HOUSING DEVELOPMENT CORPORATION SHIPPED TO: ROSEMEAD HOUSING DEVELOPMENT CORPORATION INVOICE NUMBER INVOICE DATE YOUR ORDER NUMBER TERMS CONTACT PERSON MISCELLANEOUS REF NVOICE 2004-019, June.15, 2004 UPON RECEIPT K. Ogawa I.. I.. . 1. :QUANTITY::: ....... ... ..................... ....... ..... . Ohl ...... Annual Reimburs6ment for City Services $219,600.00 Fiscal Year 2003-04 (Angelus & Garvey Sr Hsg) Ground Lease payment for Fiscal Year 2003-04 $146,400.00 (Angelus and Garvey Senior Housing) Net Proceeds from the sale of 4623 Earle Avenue 185,040.00 Gross Sales $252,253.54 Less: Property Acquisition-,Cost (65,043.26) Less: Interest Factor (2,170.28) I SUBTOTAL $551,040.00 TAX N/A $551,040.00 Questions concerning this invoice? MAKE ALL CHECKS PAYABLE TO: PAY THIS Call: Finance Department CITY OF ROSEMEAD AMOUNT (626) 569-2120 Tran Code: Account: 1:3636 Last vaiiey tsouievara Rosemead,-CA 91770 Attention: Finance Department THANK YOU FOR YOUR BUSINESS/ CITY SERVICE INVOICE (RHDC) Fiscal Year 2004-05 2004 -05 Budgeted Applicable Balance Due Organ. Activity Expenditures Percentage To City . 4100 City Council $282,290 N/A $0 4110 Administration 942,180 10.00% 94,218 4120 City Clerk 203,940 10.00% 20,394 4130 Finance 536,960 10.00% 53,696 4140 City Treasurer 300 10.00% 30 4150 City Attorney 169,260 N/A 0 4180 Buildings 576,900 10.00% 57,690 4200 Community Promotions 309,400 N/A 0 4240, City Garage 38,800 10.00% 3,880 4300 Law Enforcement 5,365,050 N/A 0 4310 Parking Control 207,060 N/A 0 4320 Crossing Guards 132,510 N/A 0 4330 Animal Regulation 82,000 N/A 0 4340 Street Lighting 371,000 N/A 0 4350 Emergency Medical 7,500 N/A 0 4360 Narcotics Fore. & Seizure 60,940 N/A 0 4500 Construction- Street 10,737,500 N/A 0 4510 Traffic Administration 45,390 N/A 0 4530 Construction - Signals 105,000 N/A 0 4600 Street Maintenance 461,300 N/A 0 4630 Traffic Signal Maintenance 109,000 N/A 0 4640 Tree & Parkway Maintenance 267,000 N/A 0 4650 Signs & Striping Maintenance 150,000 N/A 0 4660 Public Transit 1,109,440 N/A 0 4700 Planning 419,780 10.00% 41,978 4710 Building Regulations 1,071,420 N/A 0 4720 Engineering ' ;" 379,100 N/A 0 4740 Community Improvement 280,990 N/A 0 4750 CDBG 2,839,281 N/A 0 4780 Solid Waste 80,560 N/A 0 4800 Parks & Recreation Admin. 320,100 N/A 0 4810 Parks 1,416,100 N/A 0 4820 Recreation 640,690 N/A 0 4830 Aquatics 348,710 N/A 0 4840 Recreation Fee & Charge 283,370 N/A 0 4850 Aquatics Fee & Charge 19,200 N/A 0 4870 Dinsmoor Heritage House 35,500 N/A 0 4880 Parks Projects 0 N/A 0 Appropriated Reserve 100,000 N/A 0 $30,705,521 $271,886 Amount Due to City $219,600 klo:cityserv.xls (200405) 0 Z v � w m � 7 pl N f (0 m N O s S r i C U3 O o 7 � om nn Owv C CD ::F , o� z n CL i3 0 qb r+ Z 0 yp xa � rn rt m 0 o 0 . C �I] C) 0 C) G n . O r i C U3 O o 7 � C CD ::F , CL i3 0 �� =� yp xa � C rt O o 0 . C �I] r i C U3 The Law Offices of GOLDF & LIPMAN One Montgomery street Telesis Tower Tw=s -�*d Fl= San Fl mc;oo California 94104 Stems H. Goidbrb To: Don Wagner Barry R.LIX= From: M David Rroot M David kroot Lee C. Rosentta! Date: October 7, 1993 Roger A. ClanJL Sub ject: Proposed 1992 -93 City Rei Pmla sCrow Rosemead Housing Development Corporation John T Nagle Pony ¢ Marshall I have reviewed' your list of City expenses incurred to Lynn Hutchim support the activities of the Rosemead Housing Development Richard A. Judd Corporation for the 1992 -93 fiscal year, Peter F!•anL9in James D. Smith The total cost of $150, 000 is reasonable and the - EarenxTledetnann exp enses may be reimbursed from.the Rosemead Redevelopment ThomuE.Webbe Agency's Low and Moderate Income Housing Fund as activities ' John T Flaygood Mchael L Beery to support the production of low. and moderate income Dianne Jad= Mel housing. . Raymond E Bdanm . Irene x Stria P Rende GWvw Andrew Z Magna Lim LLim Our File: 610/1 David M. Robinson San lrmncis= 415 7SS -W35 415 788-0999 F.AX . alooll.PSo t,.. iT�A ESCROW ��>3A r 15 9 2 O WX wa V 10 N i losaul9e es C 90067 C Las�as Dn`286 2 W Saq,Gabnrl l }191776 esca`Qw fl 03 p (6Z6� 67�y g,s � t 6P5 M x27/03 . ��t as Ai'1 PAY two unfired Fi a o TfA andd"Twwpjiundrfi Iiffy <Tluee And 54710 01 , z = � ?SZ 253 54�, g R m " T fix' w � ` �' c j ,.._ '.',..°.. ` da rare C�L of Rvsemd n .! ! 4 ROS .Cad CA�,�9�7 ��� � a � "✓ . . ^� ,z,x r „a s ,� its 5E9224' 4L222426521: 8 2330 30911' ATLA ESCROW CORPORATION Escrow Trust Account 152922 Check No. 152922 Seller Proceeds SELLER: City of Rosemead Net Proceeds PROPERTY: 4623 Earle Avenue Rosemead, CA 91770 BUYER: Xue Mang Jing Yan Goo We appreciate your business! ATLA ESCROW CORPORATION 1033 E. Las Tunas Drive • San Gabriel, CA 91776 • (626) 286 -2167 Fax (626) 309 -0576 City of Rosemead Date : October 27, 2003 Attn: Bradford W. Johnson Escrow No.: 53615 -M 8838 East Valley Boulevard - Rosemead, CA 91770 RE: 4623 Earle Avenue, Rosemead, CA 91770 We are pleased to inform you that the above referenced escrow was closed on October 27, 2003 and we enclose the following for your records: Our Check for $252,253.54 representing your proceeds. Escrow Closing Statement (PLEASE RETAIN FOR YOUR TAX RECORDS) Copy of Real Estate Withholding Certificate 593 -W Copy of Escrow Holder Acknowledgment Any documents to which you are entitled will be forwarded to you directly from the appropriate governing party. It has been a pleasure handling your escrow. We look forward to servicing your future real estate transactions. Ada Escrow Corporation Maggie Cluck Escrow Officer Jm . ATLA ESCROW CORPORATION. 1033 E. Las Tans Drive San Gabriel, CA 91776 (626) 286 -2167 Fax (626) 309 -0576 Escrow No. 53615 -M Reference: 4623 Earle Avenue Rosemead, CA 91770 SELLER: City of Rosemead 8838 East Valley Boulevard Rosemead, CA 91770 Consideration: Total Consideration Disbursements Paid: Zone Disclosure Report Fee pd to: Property ID For services rendered pd to: Title Tax Servcies Title Charges: Owner's Title Policy`' County Document Transfer Tax Escrow Fees: Escrow Fees - Prepare Grant Deed Check Herewith Totals Closing Date: October 27, .2003 .Page 1 Seller CLOSING STATEMENT - - DEBITS - - - - CREDITS - - 256,000.00. 114.00 1,567.86 1,046.00 281.60 t' 712 - .00 25.00 $ 252,253.54 $ 256,000.00 $ SAVE FOR INCOME TAX PURPOSES 256,000.00 Property: 4623 E a r le A R d rA 91770 — Dale: ,7lme 10. 2003 37. EXPIRATION OF OFFER: This offer shall be deemed revoked and the deposit shall be returned, unless the offer is Signed by Seller, and a Copy of the Sioned offer is personally received by Buyer, or by - Elizabeth Kho who is authorized to receive it by 5:00 PM on the third calendar day after this offer is signed by Buyer (or, if checked, (9 by Julv 17, _ 2003 (date) , at 5 ❑ AM F4 PM). Date BUYER _ By Name Printed Title Address Date 0 3 BUYER By Name Printed Jina Yan Guo Title Address 38. BROKER COMPENSATION FROM SELLER: ' A. Upon Close Of Escrow, Seller agrees to pay compensation to Broker as specified in a separate written agreement between Seller and Broker. B. If escrow does not dose, compensation is payable as.specified in that separate written agreement. 39. ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of the Property, or has the authority to execute this Agreement. Seller accepts the above offer, agrees to sell the Property on the above terms and conditions, and agrees to the above confirmation of agency relationships. Seller has read and acknowledges receipt of a Copy of this Agreement, and authorizes Broker to deliver a Signed Copy to Buyer. ❑ (If checke S J�CT TO ATTACHED COUNTER OFFER, DATED Date Date SELLER O ,_ SELLER By By Name Printed ad C' Name Printed Title Title Address Address ( / � �) Confirmation of Acceptance: A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized agent (Initials) on (date) at ❑ AM ❑ PM. A binding Agreement is created when a Copy of Signed AcceptanceAs personally received by Buyer or Buyer's authorized agent whether or not confirmed in _ this document Completion of this conftrnation is not legally required in order to create a binding Agreement; it is solely intended to evidence the date that Confirmation of Acceptance has occurred. REAL ESTATE BROKERS: A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller. B. .Agency relationships are confirmed as stated in paragraph 32: C. If specified in paragraph 2A, Agent who submitted offer for Buyer acknowledges receipt of deposit. D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker (Selling Firm) and Cooperating Broker aorees to accept, out of Listing Broker's proceeds in escrow. (i) the amount specified in the MLS or PDS, provided Cooperating Broker is a Participant of the MLS or PDS in which the Property is offered for sale or a reciprocal MLS or PDS, or ❑ (if checked) (ii) the amount specified in a separate written agreement (C.A.R. Forth CSC) between Listing Broker and Cooperating Broker. Real Estate Broker ( Mal; 'rn), 01 e11 Banker San Marino B - Elizabeth Rho Date June 11. 2003 Address 2065 Huntino-ton Drive �- ON San Marino State CA Zip 91.108 Telephone (626)286 -5222 Fax (626)568 -9507 E -mail Real Estate Broker (Listing Firm) By Date Address city State. Zip Telephone Fax r E -mail ESCROW HOLDER ACKNOWLEDGMENT: Escrow Holder acknowledges receipt of a Copy of this Agreement, (if checked, p� a deposit in the amount of S 7 350 'M ). counter offer numbers tnDne and Coldwell &�ilmr AAArmvlr*n and , and agrees to act as Escrow Holder subject to paragraph 33 of this Agreement, any supplemental escrow instructions and the terms of Escrow Holders general provisions. Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is 07/08/03 Escrow Holder Atla Escrm Corporation Escrow 53615 —M By I, We Date 07/16/0 Address 1033E Las ltata San Gabriel CA 91776 Phone/Fax/E -mail Escrow Holder is licensed by the California Department of 5D Corporations, ❑ Insurance, ❑ Real Estate. License 9 THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS© (C.A.R). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER 15 THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL This to= is available for use by the entire real estate industry. II is not intended to identify the user as a REALTORS. REALTORS is a registered collective membership mark which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS® who subscribe to its Code of Ethics. Published by the California Association of REALTORS® Reviewed by Date ;r The Syslsm�lw Success' VLPA REVISED 10102 (PAGE 9 OF 9) VACANT LAND PURCHASE AGREEMENT (VLPA PAGE 9 OF 9) T8568968.ZFX YEAR Real Estate Withholding Exemption Certificate and CALIFORNIA FDRM 2003 Waiver Request for Non-individual Sellers 593•W mt �xeXiX _.,..P..•'aY �.ill��Ef7DI1E cF°�?f� vCx�.au:fia�eca .•+. .r. .�.� -•'�- . a Seller's Information " CA / o . no. IJ FEIN SSOS file no. O Soria] security no. Name C i t n F o sG'�•e a d 1 1 1 D I; I 1 Private Mailbox no. Note: If you do not furnish your tax ID Address n� t f� I I' „r ( I I number this certificate is void. ( L G �/ V V • Daytime number Ownership City, 5 21P Code D U percentage �Do% o.nnnrty address Ill no street address, provide parcel number and county) - V Read the following and check the appropriate box. See line -by -line instructions, Part I — Withholding Exemption Certificate. YES ,N_O,/ 1. Is the total sales price of this property, before applying your percentage of ownership, $100,000 or less? ....... ❑ h0 2. Is the seller a corporation that is either qualified through the California Secretary of State or has a permanant place of ......... business in California? ................................... :.................... ................ ....... 3. Is the seller a partnership with recorded title to the property in the name of the partnership? (Ii yes, the partnership must stillfile a California tax return to report the sale and withhold on foreign and domestic nonresident partners as required. Get FTB Pub. 1017, Nonresident Withholding Partnership Guidelines, for withholding information.) ................. 4. Is the seller (recorded title holder) a limited liability company (LLC) that is class as a partnership and is not a disregarded single member LLC for federal and California income tax purposes? (If yes, the LLC must still file a California tax return to report the sale and withheld on foreign and domestic nonresident members as required. Get FTB Pub. 1017, Nonresident Withholding Partnership Guidelines, for withholding information.) . . .............................. S. Is the seller atax- exempt entity under either California or federal law? ? ......................... . . . 5. Is the seller an irrevocable trust with at least one trustee who is a California resident? (If yes, the trust must still file a California . tax return to report the sale aridwithhold when distributing California source taxable income to nonresident beneficiaries as required. Get FTB Pub. 1023, Nonresident Withholding Independent Contractor, Rent & Royalty Guidelines, for withholding information.) ............ 7. Is the seller an estate where the decedent was a C'alffomia resident at the time of death? (If yes, the estate must still file a California fiduciary bl income to nonresident beneficiaries as required. ■ A ■ n. M ■ G tax return to report the sale and withhold when distributing Calif omla source taxa e Get FrB Pub. 1023, Nonresident Withholding Independent Contractor, Rent 8 Royalty Guidelines, for withholding information.) ............ ❑ S. Is the seller a bank or a bank acting as a fiduciary for a trust? ................................. ............................... ❑ 9. Is the seller an insurance company, Individual Retirement Account (IRA), or qualified pension/profit sharing plan? ....................... ❑ C l t4 Under penalties of perjury, I hereby certify that the information provided above is, to the best of my knowledge, true and correct. If conditions change, 1 will promptly inform the withholding agent I understand that completing this form does not exempt me from filing a California income or franchise tax return to report this sale. L I�.ID A5s of 6 tr M Pt Seller's name and title (type or print) � n ". "• f ' 7 4 — O T /ice � 7 Seller's signature %r — If you answered "YES" to any of the ove questi Its, ST H R. You are exempt from the real estate withholding requirements. Provide this form to your escrow company or the buyer (withhol agent If you answered "NO" to all of the above questl s, you are subject to the real estate withholding requirements. The required withholding is 3113 percent of the total sales price. Do you expect your tax liability from the sale of this property to be substantially less than that amount? If so, would you like to request a reduced amount of withholding? - ❑ Yes. Complete the Withholding Waiver Request (Part II) and send it to the Franchise Tax Board. ❑ No. STOP HERE. Your escrow officer will withhold 3 113 percent of the total sales.price and send it to us on your behalf. Obtain the seller's copy of Form 597, Real Estate Withholding Tax Statement, from the escrow officer to attach to your California income tax return when you file and claim the amount withheld. Withholding Agent: it you have a requirement to withhold, complete Form X97, Real Estate Withholding Tax Statement, and send one copy to us with the withholding payment and give two copies to the seller. Refer to the Form 597 Instructions. For Privacy Act Notice, get form FTS 1131. --- 593WO3103 F Form 593 -W C2 (NEW 12 -2002) Side 1 1249 r ROSEMEAD HOUSING DEVELOPMENT CORP. I 8838. E. VALLEY BLVD. 818- 288.6671 - 90- 3977/1222 ROSEMEAD, CA 91770 a. q ,,E ES �o #J iF �i GAF Lv� , •V'.l r.. - - ..J - " =F1?'E T''•i( U .'ifi FORTY- �'' -.'.c� -- " pp F � IB � 3T� RIC * ** *BANK PO°EMFAD. CALIFORNIA Y1Ti° �' -- NOT NEGOTIABLE 1120012 22239775i: oL41032L. 2IH L INV# REQUEST FOR, PAYMENT CITY OF ROSEMEAD 7REDEVELOPMENT AGENCY "PLEASE ATTACH APPROPRIATE DOCUMENTATION" C (?--O T2z Pc s -� (- J c.(E V# Ll[ <GZ'o 2 P.0 C PS GA ott0OS( —O (9Z ewe 71. rr . DESCRIPTION: SPECIAL INSTRUCTIONS lrv� T° - D: ORGAN- FUND # IZATION ACCOUNT PROJ. # AMOUNT NUMBER NUMBER UNIT # y-z-:7s 5 1 . $ 6 So43 ,� TOTAL I hereby certify that the goods /services described above and on the attached documents were received and I authorize payment. l/^ De� RRA Finance Date Date Date mn. V V Date COUNTY OF LOS ANGELES M TREASURER AND TAX COLLECTOR _ KENNETH HAHN HALL OF ADMINISTRATION 225 NORTH HILL STREET, ROOM 130 P.O. BOX 512102 LOS ANGELES, CALIFORNIA 90051 -0102 MARK J. SALADINO TREASURER AND TAX COLLECTOR June 28, 2001 (213) 974 -0871 Mr. Brad Johnson City of Rosemead 8838 Valley Blvd. Rosemead, CA 91770 Dear Mr. Johnson: CHAPTER 8 AGREEMENT NUMBER 2046 ASSESSOR'S IDENTIFICATION NUMBER 5372 -013 -040 The property described in the attached notice is in a Chapter 8 Agreement Sale by and between the County of Los Angeles and your agency. This agreement became effective on June 22, 2001. In keeping with the terms of said agreement for the above referenced parcel, you as the acquiring party are subject to the following costs: Purchase price of parcel $64,525.00 Cost of Publication 380.76 Cost of Postage 80.00 Lot Book Lien Report 57.50 TOTAL DUE $65,043.26 - To ensure proper processing, please return the total amount due within 14 days of receipt of this letter in the enclosed self- addressed envelope. Please enclose a copy of this letter with payment. Once payment is received and applied by our office, we will promptly record the Tax Deed to Purchaser of Tax Defaulted Property. The recorded tax deed will be sent to your agency directly by the Los Angeles County Registrar - Recorder's Office. If you have any questions regarding this matter, please contact me at (213) 974 -0871. Very truly yours, . MARK J. SALADINO Treasurer and Tax Collector Stanley�eputy Tax Defaulted Land Unit Secured Property Tax Division SR:sr Zip4:2046bill Enclosures c: Martha Duran WALLIN, KREss, REISMAN & KRANITZ LAW OFFICES 2800 TWENTY - EIGHTH STREET. SUITE 315 SANTA MONICA, CALIFORNIA 9 040 5-62 06 TELEVHONE 13101 450 -9582 FACSIMILE 99101 450 -0506 TO: FROM: RE: . DATE: HONORABLE MAYOR AND CITY COUNCIL CITY ATTORNEY _ TSAI (LAWIN) PROPERTY - 4623 N. EARLE AVE. JANUARY 29, 2000 I spoke with Sharon Perkins, Assistant Operations Chief in the Los Angeles County Treasurer and Tax Collector's Office regarding the above - referenced property. She confirmed that it will be offered for sale to the public on March 13, 2000. The minimum bid for the property is $64,525. Liens in favor of the City of Rosemead include $23,647.42 of the $64,525 total. These liens were imposed for the four separate property cleanups that were undertaken by the City. Thus, if the City were to consider the purchase of the lot, the out of pocket cost to the City would be $40,877.58. Attached is the page, showing the parcel description, from the list of tax- defaulted proper to be of for sale on March 13, 2000. Also attached is the Colmty - s form agreement for a local taxing agency to purchase a tax- defaulted property. If the Council wishes to purchase the property, the County must be given notice of the - intended public purpose of the property and the agreement must be approved by the Council and returned to the County for receipt by February 28, 2000. cc: City Manager Assistant City Manager Director of Administrative Services. Planning Director City Clerk 1, MAYOR: JOE VASQUEZ . MAYOR PRO TEM: MARGARET CLARK COUNCILMEMBERS: ROBERT W. BRUESCN JAY T IMPERIAL GARY A TAYLOR 8838 E. VALLEY BOULEVARD • P.O. BOX 399 ROSEMEAD. CALIFORNIA 91770 TELEPHONE (626) 288 -6671 FAX (626) 307 -9218 TO: HONORABLE PRESIDENT AND MEMBERS 1 ;FROANK EMEAD HOUSING DEVELOPMENT FROM: 1 G. TRIPEPI, EXECUTIVE DIREC' DATE: FEBRUARY 1, 2000 RE: ACQUISITION OF TAX DEFAULTED LAND — 4623 EARLE AVENUE Attached for the Corporation's consideration is a Chapter 8 agreement for the possible acquisition of property that will be sold by the County of Los Angeles at a public tax auction. The County provides city, county and state agencies the opportunity to acquire certain properties that ate listed on the Power to Sell list, before they go to public auction. Staff has reviewed the list that was mailed out by the County on December 30, 1999. The cover letter attached to the list indicates that if the agency (city, county or state) can justify the use of the property for a public use, the Los Angeles County Board of Supervisors will sell the property to the agency for the minim bid price. The minim bid price for this parcel,(located on Earle Avenue, between Mission and Wells) is $64,525.00. The current property owner will receive a notice of the intent of the Housing Corporation to purchase the land and any improvements. The subject 12,000 square foot property is zoned R -1 and suited for residential development. The dimensions of the lot are 60 x 200 feet. The owner has twenty-one days from publication of notice of the intended agreement between the Corporation and County to pay all back taxes, late fees, interest, etc. to redeem his property. If the owner does redeem the property, then the agreement for the Corporation to acquire the property is null and void. RECOMMENDATION It is recommended that the Corporation approve the agreement and authorize the President to sigh the agreement with Los Angeles County. c a „zF..o y ,aIsieoo462sc=io HOUSING AGENDA FEB 0 8 2000 ITEM No. cZ _ Vwo•• COUNTY OF LOS ANGELES TREASURER AND TAX COLLECTOR KENNETH HAHN HALL OF ADMINISTRATION 225 NORTH HILL STREET, ROOM 130 P. 0. BOX 512102 - LOS ANGELES, CALIFORNIA 90051 -0102 MARK J. SALADINO TREASURER AND TAX COLLECTOR - December 30, 1999' (213) 974 -2474 TO: Interested Parties FROM: Barbara Sanche2$i P C E 1 � SUBJECT: 2000A PUBLIC TAX AUCTION JAN 0 3 2000 - Enclosed is a list of properties that are deemed Subject to Power to Set fit �iv'cC for sale at public auction by the Los Angeles County Tax Collector on March 13, 2000. Some of these properties may be located within your area. We suggest that an investigation of those properties be made to determine if any may be needed for public purposes, i.e., streets, parks, conservation sites, etc. under the provisions of Division I 6,`Chapter 8 of the Revenue and Taxation Code f0 , �cgitle�fos�h_ property; ,The cost of acquisitio is the minimum bid approved by tie` Los Angeles County Board of Supervisors. The 5 rn Sid for. e a h'6a cellis_indicaf i Tdri the auction 6s next to the legal description. Once the properties have been identified for public use, a request to our office for acquisition of properties through a Chapter 8 Agreement, a written statement setting forth the purpose of, acquisition and the completed agreement forms must be in our office no later than February 28, 2000. Please have the governing body of your agency endorse and return the agreement form for further processing. The original signature, respective title and official seal must appear on the agreement form. In addition, a copy of your resolution regarding the acquisition of the property may also be provided. Moreover, in order to sell parcels that are located in various cities, if the purchaser is the State of California or a county and the property lies within the boundaries of a city, the city must approve the purchase price. The necessary signatures must be . obtained from the governing body of that city. Under this circumstance, additional copies of the forms for each city must be made for signatures signifying individual cities' approval of the purchase price. Please note that the pfo`periies''identified by your agency... dray Se_ subject to. removal from _._..._ L . he" auction dLie. t07 the- r'edempti"o'"n of "the 'defaulted taxes' :a_ ,legal: process;:: i_.e., FbA — hkn ptcy;.� such, the parcels will not be available and you will be informed if an americJment be made to the agreement. If you have any questions, please contact Nancy Watts of the Tax Defaulted Land at (213) 974 -2474. BS:SP:ccf mw%d\2000- A- inte.rpart i e s MAYOR: .IDE 'JASOUEZ MAYOR PRO TEM: MARGARE7 CLARK CDUUCILMEMBERS: ROBSW W.. BRUESCH JAY T. IMPERIAL GARY A. TAYLOR February 8, 2000 t��me ad 8838 E. VALLEY BOULEVARD • P.O. BOX 399 ROSEMEAD, CALIFORNIA 91770 TELEPHONE (626) 288 -6671 FAX (626) 307 -9218 Mark J. Saladino, Los Angeles County Treasurer And Tax Collector Kenneth Hanh Hall of Administration 325 North Hill Street, Room 130 P.O. Box 512102 Los Angeles, CA 90051 -0102 Dear Mr. Saladino: In response to your letter dated December 30, 1999, The City of Rosemead is interested in two sites on the list of properties that are deemed Subject to Power to Sell and are scheduled for public sale on March 13, 2000. Both of.these parcels are located within the City boundaries.. The first property that the City of Rosemead.is interested in is located at 9201 Lower Azusa Road, (APN: 8592- 019 -061). The City of Rosemead is currently short of public facility storage yards for City owned equipment. If acquired by the City, this parcel would be used as a storage yard for City equipment and supplies. The parcel is zoned light manufacturing and is improved with a 3,500 square foot warehouse. The site is conveniently located in close proximity to another City Maintenance yard and City Hall. The second property that the City would like to purchase is located at 4623 N. Earle Avenue (APN: 5372- 013 -040). The City of Rosemead has had continual maintenance problems with this site which is situated within a single family residential neighborhood. The City currently has liens placed on this property in the amount of $40,877.58. The public purpose that would be served through the purchase of this property would be to remove a blighted residential lot. The City's housing corporation would construct two single family detached homes on the property and subsequently sell the homes through the City's first time homebuyer program. The first time homebuyers program is offered to families of low to moderate income to allow for a decent living environment within Southem California's high priced housing market. As indicated in the above statements, the City of Rosemead has demonstrated that both of these parcels can provide a public benefit to the City and its residents. Please accept the attached chapter 8 agreements for the two parcels. Sincerely, Frank G. Tripepi Citv Manaeer AGREEMENT TO PURCHASE TAX -DEFAULTED PROPERTY This Agreement is made thisdaY by and between the Board of Supervisors of Los Angeles County, State of Calffomia, and (" Purchasee), pursuant to.the provisions of Division 1, Part 6, Chapter S. of the Revenue and Taxation Code. The rea property situated within said county, hereinafter set forth and described in Exhibit "A attached hereto and made apart hereof, is ta:K defaulted and is subject to the power of sale by the tax collector of said county for the nonpayment of taxes, pursuant to provision of law. It is mutually agreed as follows: that as provided by Section 3800 of the Revenue and Taxation Code, the cost of giving notice of this agreement shall be paid by the PURCHASER, and Z that the PURCHASER agrees to pay the sum of $ $ 64,525 the real property described in Exhibit 'W within 14 days after the date this agreement becomes effective. Upon payment of said sum to the tax collector, the tax collector shall execute and deliver a deed conveying We to said property to PURCHASER. APPROVED AS TO FORM: LLOYD W. PELLMAN County Counsel By Senior Deputy County Counsel If all or any portion of any individual parcel listed in Exhibit "A" is redeemed prior to the effective date of this agreement, this agreement shall be null and void as to that individual parcel. This agreement shall also become null and void and the right of redemption restored upon the PURCHASER'S failure to comply with the terms and conditions of this agreemenL Time is of the essence. 0§§3791. 3791.3 3793 R&T Code Agreement 2tr0oA The undersigned hereby 89ree to the terms and conditions of this agreement and are authorized to sign for said agencies. ATTEST: (Purchaser) (�e9 ATTEST: Board of Supervisors Los Angeles County B By -- ---- Clerk of the Board of Supervisors Chairman By Deputy, (seal) Pursuant to the provisions of Section 3775 of the Revenue and Taxation Code the governing body of the city of hereby agrees to the selling price as provided in this agreement. ATTEST: City of Deputy BY Mayor (seal) This agreement was submitted to me before execution by the board of supervisors and I have compared the same with the records of Los Angeles County relating to the real property described therein. Los Angeles County Tax Collector Pursuant to the provisions of Sections 3775 and 3795 of the Revenue and Taxation Code, the Controller agrees to the selling price hereinbefore set forth and approves the foregoing agreement this day of STATE COPFMOLLER M EXHIBIT A MB PG PCL N53; ITEM LEGAL LATEST LATEST PARCEL NO DESC `ASSESSES LOCATION MIN BID IMP PARCEL 151 3166 TRACT NO 3599 LOT COM S22,6B9 Y 5371 009 023 AT INTERSF�CTION OF N LINE OF LOT 92/5371 OD9'023 24 WITH W CINE OF EARLE AVE 50 FT WIDE TH 5 890=4' W 204.1 FT TH S U30'15" E 103 FT TH N 89044.' E TO W LINE OF SD AVE TH N THEREON 103 FT TO BEG PART OF LOT 24 ASSESSED TO MANDI,DOMINGO M AND SUSANA T LOCATION CITY- ROSEMEAD 151 3167 TRACT r 5808 E. 200 FT 564,525 OF LDT 4 BLK B ASSESSED TO TSAI,STEPHEN K LOCATION CITY- RDSEMEAD 151 3170 BALDY VIEW TRACT LOT 11 580,026 ASSESSED TO GORDON,KENNETH W AND JD ANN LOCATION CITY - ROSEMEAD 151 3173 TRACT 4 3747 LOT COM AT INT= RSECTION OF A LINE PARALLEL WITH AND DIST N AT R/A 54 FT FROM .5 LINE OF LOT 16 WITH A LI14E PARALLEL WITH AND DIST W AT R/A 15 FT FROM E LINE OF 50 LOT TH N 0118' E TO A LINE PARALLEL WITH AND 01ST 5 AT-R/A 180.71 FT FROM N LINE OF SD' LOT TH W THEREON TO A LINE PARALLEL WITH AND DIST E AT R/A 125 FT FROM W LINE OF SO LOT TH S 0218' W TO A PT S 86109':30" W .FROM BEG TH N 86209'30" E TO BEG PART OF LOT 16 ASSESSED TO LEEMAN,MAX LOCATION COUNTY OF LOS ANGELES 151 3174 SANTA ANITA RANCHO THAT PART OF S 1/2 OF 40 FT ABANDONED R/W OF S P R R LYING BETWEEN N PROLONGATION OF W LINE OF E 70 FT OF LOT 4 TR # 3747 AND S PROLONGATION OF W LINE OF LOT 12 TR n 5407 ASSESSED TO BANDIMERE,KEITH C LOCATION COUNTY OF LOS ANGELES S917 $917 5372 013 040 92/5372 013 040 Y 5373 _032 003 92/5373 032 003 5379 027 029 93/5373 027 028 5379 030 015 93/5379 030 015 238 SALES INFORMATION PROPERTY INFORMATION - LAST SALE Transfer Date: 1) Property: 4623 EARLE AV, ROSEMEAD CA 91770 -1157 C015 $125,000 FULL Document #. APN: 5372 -013 -040 Use: SFR County: LOS ANGELES, CA Tax Rate Area: 8219 Total Value: $127,173 Census: 4322.00 Prop Tax: $1,504.44 Land Value: $127,173 Map Pg: 37 -F4 Delinq Tax Yr. 1994 Impry Value: Transfer Info: New Pg: 596-G5 Exemptions: Assd Yr. 1999 Phone: Air Cond: % Improved: . Owner. TSAI STEPHEN K ' Mail: 4534 EARLE AVE; ROSEMEAD CA 91770-1156 C015 SALES INFORMATION 010V LAST SALE Transfer Date: 01/07/1993 Sale PricerType: $125,000 FULL Document #. 35559 Document Type: QUIT CLAIM DEED 1st TD/Type: 1993 Finance: 4 Junior TD: 2 Lender. 1 Seller. L:AININ DONALD C Title Company. Transfer Info: #Parcels/Last Sale: PRIOR SALE 09/1211977 $29,000 VERIFIED 999249 $20,000 SITE INFORMATION Improve Type: Zoning: RMRIYY County Use: 010V Bldg Class: D Flood Panel: 060153 Lot Size: 60 X 200 Lot Area: 12,000 Parking: GARAGE Park Spaces: 1 Site Influence: 5 1SF: IMPROVEMENTS Bldg/Liv Area: 8a4 # Units: # Bldgs: # Stories: 1 5 1SF: $141.40 Yrblt/Eff. 1993 Total Rms: 4 Bedrms: 2 Baths(F/H): 1 Fireplace: 1 Pool: Bsmt Area: Construct Flooring: Air Cond: Heat Type: HEATED Quality: Condition: 1925 Style: STANDARD UNIT Other Rooms: Phys Chars: RAISED FOUNDATION;ROLL COMPOSITION ROOF COVER;STUCCO EXTERIOR;FENCE; Legal' L4 BB TR58081E 200 FT OF Comments: USABLE LOT:11,996 m 1996 Win2Data 2000 Page: 1 of 2 :i 5389 - tj p ` 0 R e Ia w Mr OI i� AV M ! f9 .ao iu a ne'a ntrrir� the ica s- A WA e /i Pi isa rn i. tes �,wcrr � stars rtc rr� iso — 154 my Ha /t W a 0 -- �$ - - = - -- W io . tiK ifJJI 14 TRACT NO, 5808 M.B. 64 - 94 MINUTES OF THE REGULAR MEETING ROSEMEAD HOUSING DEVELOPMENT CORPORATION FEBRUARY 8, 2000 The Regular Meeting of the Rosemead Housing Development Corporation was called to order by President Vasquez at 7:05 p.m. in the Conference Room of City Hall, 8838 E. Valley Boulevard, Rosemead, California. The Pledge to the Flag and Invocation were waived as having been completed during the meeting just adjourned. ROLL CALL OF OFFICERS: Present: Directors Bruesch, Imperial, Taylor, Vice - President Clark, and President Vasquez Absent: None APPROVAL OF MINUTES: JUNE 22, 1999 - REGULAR MEETING MOTION BY DIRECTOR TAYLOR, SECOND BY DMCTOR HAPERIAL that the Minutes of the Regular Meeting of June 22, 1999, be approved as submitted. Vote resulted: Aye: Bruesch, Vasquez, Clark, Imperial, Taylor No: None Absent: None Abstain: None The President declared said motion duly carried and so ordered. 1. RESOLUTION NO. 00 -01 CLAIMS AND DEMANDS The following Resolution was presented to the Rosemead Housing Development Corporation for adoption: RESOLUTION NO. 00 -01 A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION ALLOWING CERTAIN CLAIMS AND DEMANDS IN THE SUM OF 350,081.00 AND DEMANDS NO.. 1210 THROUGH NO. 1217 MOTION BY.DIRECTOR BRUESCH, SECOND BY DIRECTOR IMPERIAL that the Corporation adopt Resolution No. 00 -01. Vote resulted: Aye: Bruesch, Vasquez, Clark, Imperial, Taylor No: None Absent: None Abstain: None The President declared said motion duly carried and so ordered. 2. AUTHORIZATION TO FILE BID FOR PROPERTY LOCATED AT 4623 N. EARLS AVENUE (APN: 5372- 013 -0J0) NOTE: DIRECTOR IMPERIAL VOTED NOT TO HAVE HIS COMMENTS VERBATIM. HOWEVER, THE CORPORATION VOTED 4 -1 TO HAVE ALL COMMENTS ON THE FOLLOWING ITEM VERBATIM. RHDCMINI -N-W PAGS#1 FRANK TRB'EPI, CITY MANAGER: This is the acquisition of land, tax defaulted land. This is the Lawin property, 4623. The Agency discussed this at the last meeting. If the City is interested in purchasing it for the amount of taxes on there, we would suggest that you do so under the Housing Authority, because we're not really sure at this time what the majority feels on the use of the property. That is something we can discuss this evening. But, if you purchase the property and you wish to have a house constructed there, and basically, open it to just market sale of bid process, the housing authority would do that on behalf of the City. = COUNCILMAN GARY TAYLOR: Mr. Chairman. I would like to know what would be the difference as far as letting it go on the private market and I see no reason why a developer, or a purchaser could not build 2 homes on that lot without us being involved. - COUNCILMAN ROBERT BRUESCH: Mr. Chairman. The fact of the matter is, Mr. Chairman, is that a piece of property like that are not being developed into small single homes. A piece of property like that in Rosemead, in general times, in the last three to four years, large lots that like, if you go through... probably 90% of them become large homes in the price range of $300,000 to $400,000. If our purpose would be using the Rosemead Housing Authority to purchase... to help people purchase affordable housing. Letting it go on the market and letting a piece of property go where we can get two smaller affordable homes on there, becomes part of the, what I call "mansionization" of some of these areas in our City. I think we'd be cutting our nose off to spite our faces. TAYLOR: Mr. Chairman. I, totally disagree with Mr. Bruesch's comments about 90% of the homes. I'd like a comment from our Planning Department... what's been going in, the size of the homes, and the developments that we've had. TRIPEPI: Brad, what's going on in... TAYLOR: I mean larger lots. BRAD JOHNSON, PLANNING DIRECTOR: On a large lot like that, it is the most popular housing decision to put 2400 square foot homes —just under 2500 so that don't have to go through the C.U.P. process. - TAYLOR: How many have-we done and how many smaller ones have we had subdivisions on. JOHNSON: I would say that 90% just as a "guesstimate" is pretty close to the 2400 square foot range. I_: BRUESCH: What are the prices ranges of those houses? JOHNSON: $300,000. JAY IMPERIAL: Mr. Mayor. One of the problems that I have with this is ... I'm going to be very honest with you and I don't know a better way to say it. I think that neighborhood has been raped, ok. They have suffered through years of agony with this guy that owned that home, he kept dirt all over the place. I can remember putting two construction dumpsters out there, filling them both up and never doing inside that house. It was all from the yard and all from the roof tops of the house and the garage. So, I think they had enough problems. Now, based on what Mr. Bruesch says, and that's always a possibility, you've people that want to go in there, build a big house, and the next thing you know, they've got enough,parking for maybe 2 cars, but they've got 10 out there. That's what they're doing. They're renting these rooms out. I think we have to be very careful with stuff like that, ok. We can offer it to government and let them help, what's it called, this organization, Bob, you talked to me about. BRUESCH: The Habitat for Humanity. aHMMm1-8040 PAOES2 1,_ IMPERIAL: We can do that, but as far as I'm concerned, the people ought to earn what they buy, and I'm not for it. TRIPEPI: Mr. Taylor, to give you just a different avenue as to an answer to what Mr. Bruesch was talking about. The shorter answer is... I can't give you any ... I can't tell you that it's more advantageous to the City to develop those two houses as opposed to letting a private developer do it. All I can tell you is that if the Housing Authority owns the property, this Council sitting as the Housing Authority will approve the architectural plans and design, you'll get the houses that you want out there. You can then, if you wish to do so, you could run these through the first - time home buyer program. You could pretty much control who is in there. So, I guess the short of what I'm saying, it just gives you more control of whet goes in that neighborhood. And, that's the only advantage I can give you. TAYLOR: Well, I disagree with that much control also. TRIPEPI: I can't argue with that. TAYLOR: The arguments already been made as an example, how much we need redevelopment and you remember the meeting at the Community Center, where we've been boasting as a City, $51 million worth of development had gone in down there in the project area. And I asked at three different Redevelopment Agency meetings to verify how many agreements we've had with developers down there, and there's only two that I know of So, it's been developing under the free enterprise system beautifully and that's where I believe this belongs also, rather than us as, another government agency having more control... control of the property, control of the residents, control of what goes on. We've already got a Planning Department that does that. We've got zoning regulations. This is just another way of an agency stepping in because we want control. And, things have been going pretty good as far as our development goes and homes being built, whether they're large homes, whether they're subdivided, Ijust believe that it's been going pretty good as far as lots and homes. . TRIPEPI: I can't argue with you, I was trying to TAYLOR: I understand, I understand BROESCH: The fact of the matter is, and Brad, I'll kind of defer to you. We are under the aegis of the State and that State is telling us we have to develop 725 affordable units between now and 2004 ... 2005. We have five years to build 725 or come up with a plan of 725 affordable units. Even though a lot of people are saying... "It's just a smoke screen, they'rejust trying to force us to do something "... The housing advocates, the people who are dealing with the numbers of the growth that is coining into our communities, are telling us we better do something now. Pretty soon that carrot is.going to turn into a slick. We'll be underjusl like 939, $10,000 a day fines if we don't meet the quotas. Again, I think this is a great opportunity to come up with two affordable units. If doesn't sound like much, but it does give the impression that we a doing something about making more housing affordable to the common everyday resident. MAYOR PRO TEM CLARK Mr. Chairman. I agree with Bob on that and I think I would like to look into the Habitat for Humanity because it has the people do the work, right Bob. They're . not anything free, they are buying, am I correct? TRIPEIP: Sweat equity. CLARK: Yes. Sweat equity. So, I think it's a better plan than I've seen anywhere else as far as, we don't want it to give people ... If we could do the first -time homebuyer, I think it would be ... I think it's an opportunity we won't see again. ' IMPERIAL: There's'a difference between a first -home buyer and this program that you're talking about, Maggie. They're not the same, ok. That's what I'm saying. CLARK: OK. Bob, explain the Habitat for Humanity. RHDCMW:2 -80410 PAoaa3 BRUESCH: - First of all, we have to bifurcate the thing.. The idea of Habitat for Humanity is that they come into the community and get everyone involved, the high schools, junior colleges, - .. the service organizations, and they screen the possible buyers just as stringently as we do for our first -time buyers. In other words, they're not going to get some people into a new affordable house that cannot afford it, and will never be able to afford it. The second thing they do, they are very stringent on the building codes. One image is burned in my head from a picture from .. Habitant, where they went down to South Carolina and showed one of those communities that was leveled by a hurricane last year, actually a year and a half in 1998. There were only five structures in that community that was left standing. All of them were Habitant for Humanity houses. What it does is, what was said, Equity in Sweat. The people who buy into these houses, ,. not only pay a mortgage, they also have to help build their own house. It gets the whole community thinking about affordable housing and getting people into decent affordable housing. ROBERT KRESS, CITY ATTORNEY: They have to help build others houses until they've built up enough service hours. - IMPERIAL: Bob, you know that's nice, it's beautiful and I can really appreciate it and I hope the world goes round like that all the time. I can show you two leachers right now that are working very hard. They can't afford to buy a house, ok. And you know what teachers are, you been there and done that. Let's talk about how beautiful the world is and that's what they thought when they put that project area over on La Brea and you've seen what happened to Baldwin Hills. Come on, give me a break. CLARK: Jay, can I ask you what you mean by the teachers can't... IMPERIAL: You've got to have so much money coming, and you've got to pay for the mortgage, ok. And, I know a couple of teachers that can't even afford to do that, man and wife. CLARK: Are they first -time homebuyers? - .. IMPERIAL: They're'not on our first -time buyers because they don't want to buy in Rosemead. They've got another place. CLARK: Voila. IMPERIAL: Well, voila... Let's just buy where we're going to get the best deal, voila. CLARK: You're saying...just said they can't afford to buy, Jay : :. that's not true. If they want to _ buy in Beverly Hills and they can't... - IMPERIAL: Thin-'s not what I'm saying. They don't want to buy in Beverly Hills. These teachers want to buy in Glendale, ok. They can't do it there. . BRUESCH: Do they realize that if they are teaching in Rosemead, the government budget has money for teachers to buy houses within their school attendance area? IMPERIAL: No, because first of all, they don't live in Rosemead. Secondly, they haven't been told that when they've asked questions, so somebody is not passing the word. But, if you have all this information, Bob, I'll be glad to get it to these people. BRUESCH: It's in the government budget. IMPERIAL: Would you get it for me please so I can mail it to them. BRUESCH: I know that the school districts are very interested in managing that program with our first -time home buyers. I make the Motion that we buy the property. CLARK: Second. VASQUEZ: All those in favor please say Aye. Those opposed No. RNDCMINIb40.00 PAGEo4 Yes: - Bruesch, Vasquez, Clark, Imperial. No: Taylor - .... . Absent: - None -- Abstain: - None TAYLOR: No, and I'd like my comments verbatim. BRUESCH: The second thing I'd like to do when I.said bifurcate. I'd like staff to go and get some information Habitat for Humanity and find out the process we go though into getting them in there. - TRIPEPI:. Bob, the first issue is the purchase of the property. BRUESCH: That's right. TRIPEPI: We can't go and do anything if we don't get the property. BRUESCH: Again, I'll predicate that with the idea if we buy the property, I'd like staff to find out about it. TRIPEPI: I'm sure we'll have to come back here with lots of information. CLARK: Mr. Mayor. What was our policy on verbatim minutes? I thought we were supposed to vote on that. IMPERIAL: It had to be three members of the Council to vote on any verbatim minutes TAYLOR: I have no objections if you want to make that motion. I made it distinctive. It was my comments verbatim. I don't rare what the rest of you do, 4 -1. My comments. I don't care what you want in the minutes. You can put yours in for continuity, or take it out. If you want to vote on this issue of my comments, be my guest. Do you understand the difference? I'm not asking for.everything to be verbatim. But, if you want to put a limit on what any Councilmember ... any Councilmember can say, "put it on the record ". CLARK: Ok, whatever. TAYLOR: I don't want to make trouble. But, I believe that each one of us is entitled to make a statement, and always respect that. BRUESCH: Mr. Mayor. I just want to put an addendum on this. That is, Ijust totally disagree with the methodind I've said in SCAG meetings and COG meetings that I disagree with the method of coming up with the quotas for affordable housing. Saying that, I'm not opposed to any community, including Rosemead, going out and seeking ways to increase affordable housing because of just what.Councilman Imperial was saying. We don't want to lose our young people to other communities because the only affordable housing they see in our Rosemead area are not decent housing. Affordable housing means that it's not only affordable, it's less than 1/3 of the income of the household. But, also, it means decent housing. It means the type of housing that a young family would like to move into, in a neighborhood that a young family would like to move into. And, I think that should... the whole purpose of our Housing Authority is to increase that type of housing. You really need to understand that one of the things that we wanted to do when we set up this Housing Authority is to make Rosemead the type of community a young couple would like to purchase in. So, they don't want to go to over the Westside, or out to the Inland Empire. Anything that this Housing Authority, our body can do to increase support of our housing and decent neighborhoods in Rosemead, I'm totally in favor of it. VASQUEZ: Thank you, Bob. CLARK: Mr. Mayor. I would like to matte the Motion that all of our comments are verbatim because they'll look odd from Gary's statements. I think the whole conversation needs to be in it if it's going to be in at all. - ttmlCMm14040 PAos#5 TAYLOR: I agree with the concept of not I'll second the Motion., VASQUEZ: All those in favor please say Aye. Oppose. IMPERIAL: -Aye. I oppose. The reason that I oppose, maybe I don't...Maggiejust said that all of our comments are made verbatim. Maybe .I don't want mine verbatim, ok. So, if you want io make it another vote for four people, that's right.. Or, I don't want my minutes verbatim. I have nothing to hide or be afraid of On the other hand I don't think it's necessary for mine. I won't speak for anybody else. Yes:. Bruesch, Taylor, Vasquez, Clark No: Imperial - Absent: None Abstain: None TAYLOR: And, the Council policy was if we're going to have a section verbatim, for all the Council, I think it's to Mr. Imperial's disadvantage not to have it in that sense, because you're - part of the continuity of it. And that's the only reason you're welcome to... IMPERIAL: Well, I'll take that disadvantage and lick my wounds. But, I don't think it's, necessary in this case. . TRIPEPI: If it's agreeable with the majority of the Council that just voted to leave out Mr. Imperial's comments... TAYLOR & CLARK: No. CLARK: The whole issue is the.... TAYLOR: The continuity of what this Council said... and the Motion was to have it verbatim. ROBERT KRESS, CITY ATTORNEY: Once the words are spoken, then they're part of the official record. The Council as a whole can decide whether or not you're going to make the minutes a verbatim transcript, which is everything that occurred verbatim, or action minutes or something in between. .1 have to agree that if you're going to document the details of everyone's words, then we have to have everyone becauseyou have interaction. You have one Councilmember asking a question that may be a rhetorical question, but the next comment that follows, that you really need that. There's been a lot of discussion as to whether these kinds of minutes are useful. That's for the Council to decide. There was a request and a vote on making this particular item verbatim. I think it really needs to be verbatim for all the Councilmembers. TAYLOR: I have to agree only because of the continuity and the policy of the verbatim subject. But, I want to be sure that in the future, an individual Councilmember can make a statement. KRESS: I think that that's a matter of courtesy. And, I think you can make a statement and ask that it be in verbatim. I don't think it's ever going to work, it's not going to work tonight, it's never going to work if you say I want all of my statements in verbatim, because it's the same thing, it's scattered. You're going to be responding to things that if you say, "this is how I feel, this paragraph, these few sentences..." I've sat here for a number of years with this group and I don't think anyone is going to deny you that, and it's appropriate. - IMPERIAL: What we've wound up doing then, is that Gary wanted his minutes verbatim... TAYLOR: My comments. IMPERIAL: His comments verbatim, and so we had a vote and I didn't want mine verbatim. So, what we're saying in reality is Isere we are again. We're back to point A, ok. Are we or are we not back to point A. What are we doing now? RIIOCMW 2.9040 PAOa MG TAYLOR: No, I believe that the Council took a vote as a body on the whole subject and that's the way that we've decided everything in general. IMPERIAL: Ok. Then what the Council voted on then, with the exception of one member, is . that we will have the minutes verbatim from this meeting. And you will also say in those verbatim minutes that I suggested and it was not recognized that I did not want mine verbatim. TAYLOR: That's fine, because the whole meeting will be verbatim on this subject. VASQUEZ: Ok, moving on to matters from officials. VERBATIM DIALOGUE ENDS. 2. MATTERS FROM OFFICIALS -None 3. ORAL COMMUNICATIONS FROM THE AUDIENCE ON HOUSING DEVELOPMENT MATTERS -None 4. ADJOURNMENT There being no further action at this time, the meeting was adjourned at 7:22 p.m. The next regular meeting is scheduled for March 14, 2000, at 7:00 p.m. - Respectfully submitted: APPROVED: n n- orporation Secretary i rr RnocmN:2.90-00 PA0EM7