CC RES 2003-068RESOLUTION NO. 2003-68
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES APPROVING A LETTER OF AGREEMENT BETWEEN
THE CITY OF RANCHO PALOS VERDES AND THE CITY OF WEST
HOLLYWOOD FOR THE EXCHANGE OF. CDBG FUNDS FOR THE
FISCAL YEAR 2003 -2004.
WHEREAS, the City Council of the City of Rancho Palos Verdes conducted a
public hearing, pursuant to applicable law, on December 3, 2002, to consider the
allocation of CDBG funds for the Fiscal Year 2003 -2004; and
WHEREAS, the use of CDBG funds is strictly limited by law; and
WHEREAS, on August 20, 2002, the City of Rancho Palos Verdes executed a
three -year Cooperation Agreement with the County of Los Angeles concerning
Community Development Block Grant (CDBG) Funds for Fiscal Years 2003 -2004,
2004 -2005, and 2005 -2006; and
WHEREAS, the City of Rancho Palos Verdes is a recipient of Community
Development Block Grant Funds and desires to exchange $400,000 of its FY 2003-
2004 CDBG funds for $230,000 of West Hollywood General Funds; and
WHEREAS, the City Council of the City of Rancho Palos Verdes conducted a
public hearing, pursuant to applicable law, on August 19, 2003, to consider the
exchange of CDBG funds with the City of West Hollywood.
NOW, THEREFORE, BE IT RESOLVED by the City of Rancho Palos Verdes
City Council as follows:
Section 1. The attached Letter of Agreement between the City of Rancho Palos
Verdes and the City of West Hollywood is hereby approved; and in accordance with the
Letter of Agreement, the City of Rancho Palos Verdes will exchange $400,000 of its
2003 -2004 CDBG funds for $230,000 of City of West Hollywood General Funds.
Section 2. The City of West Hollywood shall assign the agreed upon general
funds to the City of Rancho Palos Verdes in one lump sum payment. The lump sum
payments shall be due and payable after receipt of agreed upon CDBG funds from the
City of Rancho Palos Verdes.
Section 3. The City Manager is authorized and directed to execute any and all
documents necessary to complete the exchange of funds on behalf of the City of
Rancho Palos Verdes.
Section 4. This resolution shall take effect immediately.
Section 5. The City Clerk shall certify to the adoption of this resolution and
thenceforth and thereafter the same shall be in full force and effect.
PASSED, APPROVED AND ADOPTED thJ�,.19th day "ugust, 2003.
Mayor,
Attest:
City Clerk
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, JO PURCELL, City Clerk of the City of Rancho Palos Verdes, hereby
certify that the above Resolution No. 2003 -68 was duly and regularly passed and
adopted by the said City Council at a regular meeting thereof held on August 19, 2003.
City Clerk
Resolution No. 2003 -68
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AGREEMENT
This Agreement is made on this 19th day of August, 2003, by and between the City of
Rancho Palos Verdes, a municipal corporation, and the City of West Hollywood, a
municipal corporation.
RECITALS
A. The City of Rancho Palos Verdes has executed a three -year cooperation agreement
with the County of Los Angeles concerning Community Development Block Grant
(CDBG) Funds for Fiscal Years 2003 -2004, 2004 -2005 and 2005 -2006;
B. The City of West Hollywood has executed a three -year cooperation agreement with
the County of Los Angeles concerning Community Development Block Grant Funds
(CDBG) for Fiscal Years 2003 -2004, 2004 -2005, and 2005 -2006;
C. The City of Rancho Palos Verdes will receive CDBG Funds which can be made
available to the City of West Hollywood during fiscal year 2003 -2004. In exchange
for the assignment by the City of West Hollywood of the amount of its general funds
indicated in Section 1 below, the City of Rancho Palos Verdes is willing to assign
unexpended CDBG funds to West Hollywood.
D. The two cities now desire to enter into an agreement under which the City of West
Hollywood would exchange $230,000 of its general funds for $400,000 of the City of
Rancho Palos Verdes' unexpended entitlement of CDBG Funds for Fiscal Year
2003 -2004.
NOW, THEREFORE, the Cities agree as follows:
1. EXCHANGE. The City of Rancho Palos Verdes agrees to assign four hundred
thousand dollars and zero cents ($400,000) of its unexpended CDBG allocation to
the City of West Hollywood. In return, the City of West Hollywood agrees to assign
two hundred thirty thousand dollars and zero cents ($230,000) of its general funds to
the City of Rancho Palos Verdes. The exchange rate is $ .57 '/2 per dollar.
2. CONSIDERATION. The City of Rancho Palos Verdes shall assign the agreed upon
CDBG Funds in one lump sum payment. The City of West Hollywood shall assign
the agreed upon general funds to the City of Rancho Palos Verdes in one lump sum
payment. The City of West Hollywood's lump sum payment shall be due and
payable 15 days after the Community Development Commission of the County of
Los Angeles notifies the City of West Hollywood in writing and on its letterhead that
the funds have been transferred to the City of West Hollywood's unallocated funds
account.
3. BEST EFFORTS. The City of Rancho Palos Verdes shall use its best efforts to
obtain any consent required of any other governmental or administrative agency to
effectuate the assignment of $400,000 of its CDBG funds to the City of West
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Hollywood no later than 30 days after both cities have executed the agreement and
any required documents. The City of Rancho Palos Verdes and City of West
Hollywood agree to execute any and all additional documents which such agencies
may request in connection with the assignment and receipt of grant.
4. TERM. The Agreement is effective on the date above written and for such time as is
necessary for both parties to complete their mutual obligations under this
Agreement.
5. TERMINATION. Termination of this Agreement may be made by either party so
long as written notice of intent to terminate is given to the other party at least five (5)
days prior to the termination.
6. NOTICE. Notices shall be given pursuant to this Agreement by personal service on
the party to be notified, or by written notice upon such party deposited in the custody
of the United States Postal Service addressed as follows:
CITY OF WEST HOLLYWOOD
Paul Arevalo, City Manager
8300 Santa Monica Boulevard
West Hollywood, CA 90069
CITY OF RANCHO PALOS VERDES
Les Evans, City Manager
30940 Hawthorne Boulevard
Rancho Palos Verdes, CA 90275
7. GOVERNING LAW. This Agreement shall be governed by the laws of the State of
California.
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IN WITNESS WHEREOF, the parties have executed this Agreement the day of
August, 2003.
CITY OF WEST HOLLYWOOD:
Allyn inderman, Director of Rent
Stabilization & Housin
Paul Arevalo, City Manager
ATTEST:
CITY OF RANCHO PALOS VERDES:
Les Evans, City Manager
ATTEST:
City Clerk City Cl rk
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