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Home My WebLink About1999 08 18 CC MIN SS1999 08 18 CC MIN SS@˜€ÂCC MIN AUG 18 1999 3H4G8COUNCIL CHAMBER AUGUST 18,1999 14403 E. PACIFIC AVENUE WEDNESDAY BALDWIN PARK, CA 91706 6:00P.M. The CITY COUNCIL and the RECREATIONICOMMUNITY SERVICES COMMISSION of the City of Baldwin Park met in STUDY SESSION at the above time and place. ROLL CALL Present: Council/Agency Members: Ricardo Pacheco, Linda Gair, Mayor Pro Tern Van Cleave and Mayor Manuel Lozano. Also present: Arnold Alvarez-Glasman City Attorney; James B. Hathaway, Director of Finance; Steve Cervantes, Director of Community Development and Rosemary M. Ramirez, Deputy City Clerk. CLOSED SESSION The Council/Agency recessed to a closed session at 6:10 p.m. The Council/Agency reconvened at 6:40 with all members present. City Attorney Alvarez-Glasman reported the action as follows: CONFERENCE WITH LEGAL Significant exposure to litigation, pursuant to COUNSEL ANTICIPATED Government Code 54956.9(b) LITIGATION Pursuant to GC 54956.9) Number of Cases: One 1) ACTION: No action taken. CONFERENCE W/LEGAL Name of Case: Ruben Chacon vs. City of COUNSELEXISTING Baldwin Park LITIGATION Pursuant to GC 54956.9) ACTION: Briefing from Legal Counsel, provided with no further action taken. REPORTS OF OFFICERS. COMMISIONS. AND COMMITTEES JOINT EXERCISE OF POWERS J.K. Chilton, explained the program as follows: CREATING THE CALIFORNIA Neighborhoods tend to be more stable and suffer less COMMISSION HOUSING AND crime when people own their own homes and have a FINANCING AGENCY vital stake in their community. The Lease-Purchase Housing Program promotes homeownership by providing down payment and closing costs. Program participants build equity in the home during three-year lease period and then assume the mortgage. The program will be funded by the private sector, so it will not cost the city any money. The benefits to this program are as follows: BIB] 37175-U01 CC-U02 MIN-U02 AUG-U02 18-U02 1999-U02 U02 3-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 FO3903-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 BIB] 37263-U01 1999-U02 08-U02 18-U02 CC-U02 MIN-U02 SS-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 CITY-U05 COUNCIL-U05 MINUTES-U05 1999 08 18 CC MIN SS@˜€ÂCC MIN AUG 18 1999 3H4G8Study Session Minutes August 18, 1999 Page 2 The program provides home ownership opportunities and thereby will help increase the home ratio in our city. The program can be used in conjunction with other programs to enhance existing programs or act independently to broaden city efforts. The program is available to a broad range of individuals including existing homeowners and families earning up to 140% of median income. The program promotes economic development by aifracting and keeping businesses and their employees in the city. The costs and Involvement are as follows: There is no indebtedness or cost to the city. Bonds issued by the California Communities Housing & Finance Agency CCHFA) will be repaid solely from insured lease revenues. The CCHFA is obligated to follow any directions, guidelines1 or restrictions the City may require. The City will have access to all documents, books, and records in order to facilitate any review of the program. The administration of the program is as follows: The CCHFA will set aside funds for administration and contract with Lorinda Johnson for property management and administrative services. Chilton & Associates will serve as investment banker to the CCHFA. Individuals purchasing a home through the Lease-Purchase Program will pay a small monthly fee during the three-year lease period to provide funds for administration. The administrator will organize advertising and outreach to the community: Lenders meetings, real estate broker meetings, and homebuyer education. California Communities Housing & Financing Agency CCHFA) is as follows: the CCHFA will be a joint power authority comprised of Voting Members and Associate Members. Voting members send a Council Member or staff member to quarterly CCHFA meetings and regularly review the performance of the program. Associate Members do not vote at quarterly CCHFA meetings. They do authorize the program to facilitate loans within their city. The city's allocation will be on demand expressed by lenders. Fees are as follows: legal fees, bond issuance fees, and other costs will be paid by the private sector, not by any CCHFA member city. BIB] 37175-U01 CC-U02 MIN-U02 AUG-U02 18-U02 1999-U02 U02 3-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 FO3903-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 BIB] 37263-U01 1999-U02 08-U02 18-U02 CC-U02 MIN-U02 SS-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 CITY-U05 COUNCIL-U05 MINUTES-U05 1999 08 18 CC MIN SS@˜€ÂCC MIN AUG 18 1999 3H4G8Study Session Minutes August 18,1999 Page 3 DISCUSSION REGARDING Director Nunez provided an update on the $250,000. TEEN CENTER Funding recently approved by the State. One of the requirements is that we must have a site identified. Options for consideration would be coordinating with the office of Supervisor Gloria Molina and rehabilitate Shyre Park. Another alternative would be to use said funds for a multi-purpose field. Due to a lack of time for further discussion on this mailer, the Council recommended that this mailer be tabled to a later date and time, with members of the Recreation and Community Services Commission present. There were no objections. ADJOURN There being no further mailers before the Council, the meeting was adjourned at 7:00 p.m. Approved as presented by the City Council at their meeting held October 0,1999. Rosemary M. Ramirez, Deputy City Clerk BIB] 37175-U01 CC-U02 MIN-U02 AUG-U02 18-U02 1999-U02 U02 3-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 FO3903-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 BIB] 37263-U01 1999-U02 08-U02 18-U02 CC-U02 MIN-U02 SS-U02 LG1-U03 LI1-U03 FO3433-U03 FO3888-U03 DO3932-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 CITY-U05 COUNCIL-U05 MINUTES-U05