RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COMMERCE, CA, APPROVING, AUTHORIZING AND DIRECTING CITY EXECUTION OF THE JOINT EXERCISE OF POWERS AGREEMENT RELATING TO MEMBERSHIP IN THE GATEWAY CITIES AFFORDABLE HOUSING TRUST; and WHEREAS, The Gateway Cities Affordable Housing Trust (GCAHT) was formed in 2023 as a joint powers authority between cities throughout the Gateway Cities subregion; and WHEREAS, GCAHT was created for the purpose of funding housing specifically assisting persons and families of extremely low, very low, low and moderate income within the County of Los Angeles; and WHEREAS, the City of Commerce (the “City”) has determined through its 6th Cycle Housing Element Update that there is great need for more affordable housing in the City; and WHEREAS, the City of Commerce (the “City”) has determined that there are limited financial resources for affordable housing development and that additional local financing increases the competitiveness of individual projects for the State and Federal resources; and WHEREAS, the City of Commerce (the “City”) has determined that it is in the public interest and for the public benefit that the City become a member of the GCAHT in order to further facilitate the development of affordable housing in the City and throughout the region, including the financing of projects therefore by the GCAHT; and WHEREAS, the City (the “City Council”) will be joining other cities that are members of the GCAHT in efforts to increase State and Federal resources for affordable housing directed to GCAFT; and WHEREAS, the Agreement has been filed with the City, and the members of the City Council of the City (the “City Council”), with the assistance of its staff, have reviewed said document; and WHEREAS, the GCAHT is authorized to issue grants and loans to developers for the purpose, among others, of financing or refinancing the construction, acquisition and rehabilitation of affordable housing; and WHEREAS, the City anticipates that there will be affordable housing projects in need of financing located in the City of Commerce; and NOW, THEREFORE, the City Council of the City of Commerce DOES HEREBY RESOLVE as follows:
SECTION 1. The foregoing recitals are true and correct.
SECTION 2. The City Council hereby authorizes the City’s membership in the Gateway Cities Affordable Housing Trust (GCAHT).
SECTION 3. The City Council has reviewed and approves the Joint Exercise of Powers Agreement substantially in the form attached.
SECTION 4. The adoption of this Resolution shall not obligate the City or any department thereof to (i) provide any financing to acquire, construct or operate any Project or any refinancing of any Project; (ii) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition, improvement, rehabilitation or operation of any Project; (iii) require any contribution or advance any funds whatsoever to the GCAHT other than membership fees for administrative costs; or (iv) except as provided in this Resolution, take any further action with respect to the GCAHT or its membership therein.
SECTION 5. The Mayor, the City Clerk and all other proper officers and officials of the City are hereby authorized and directed to execute the Joint Exercise of Powers Agreement and to perform such other acts and deeds, as may be necessary or convenient to affect the purposes of this Resolution and the transactions herein authorized.
SECTION 6. The City Clerk shall forward a certified copy of this Resolution and an originally executed Agreement to the GCAHT:
Gateway Cities Affordable Housing Trust
Attn: Melani V. Smith
16401 Paramount Blvd
Paramount, CA 90723
SECTION 7. This resolution shall take effect immediately upon its passage.
APPROVED AND ADOPTED by the City Council of the City of Commerce on the 21st day of February 2023. ________________________________
Oralia Rebollo, Mayor
ATTEST:
_________________________
Lena Shumway, City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF ___________ )
I, __________________, City Clerk of the City of __________, HEREBY DO CERTIFY that the foregoing resolution was duly adopted at a regular meeting of the City Council of the City of Commerce, held on the 24 day of January 2023.
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
________________________________________
City Clerk of the City of Commerce
Signature Page - Joint Exercise of Powers Agreement