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HomeMy WebLinkAboutRES HA-29RESOLUTION NO. HA-29 A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY ACKNOWLEDGING AND ACCEPTING ITS DESIGNATION BY THE PALM DESERT REDEVELOPMENT AGENCY AS THE OPERATOR OF CERTAIN AGENCY -OWNED RENTAL HOUSING PROJECTS IN THE CITY OF PALM DESERT THE PALM DESERT HOUSING AUTHORITY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1.The Palm Desert Redevelopment Agency is the owner of the following rental housing projects: One Quail Place, consisting of 384 units Desert Pointe, consisting of 64 units Neighbors Apartments, consisting of 24 units Taos Palms, consisting of 16 units California Villas, consisting of 141 units Laguna Palms, consisting of 48 units Country Village, consisting of 66 units Las Serenas, consisting of 150 units The Pueblos, consisting of 15 units Catalina Gardens, consisting of 72 units Palm Village Apartments, consisting of 36 units La Rocca Villas, consisting of 27 units Section 2.The Agency has designated the Housing Authority as the operator of the various rental housing projects owned by the Agency and all of the rental housing projects hereafter acquired or constructed by the Agency. The Housing Authority hereby acknowledges and accepts such designation, and hereby covenants to operate, manage, maintain, repair and rehabilitate such rental housing units. Section 3.The Agency has further authorized the Housing Authority to do all acts and things necessary or appropriate in connection with the operation, management, maintenance, repair and rehabilitation of all such rental housing projects, including but not limited to entering into an agreement or agreements with a private management company or companies consistent with federal tax regulations pertaining to tax-exempt bonds. The Housing Authority hereby acknowledges and accepts such authorization. RESOLUTION NO. HA-29 Section 4.To the extent that rental revenues and other income derived by the Housing Authority from the various rental housing projects described in Sections 1 and 2 hereof are insufficient to cover any of the expenses of operation, management and maintenance of such units, the Agency has covenanted to pay to or on behalf of the Housing Authority from amounts in the low and moderate income housing fund of the Agency such amounts as may be necessary to cover any shortfalls which may arise from insufficient rental revenues and other income. The Agency has also covenanted to pay to or on behalf of the Housing Authority all expenses of repair and rehabilitation of such units from moneys derived directly from the low and moderate income housing fund of the Agency. Section 5.At such time or times as the Treasurer of the Housing Authority determines that a shortfall exists or is soon anticipated, or that amounts are needed for repair or rehabilitation, the Treasurer of the Housing Authority shall make a demand on the Treasurer of the Agency. Such demand shall state the amount of the existing or anticipated shortfall, or the amounts needed for repair or rehabilitation. Upon receipt of such demand, the Treasurer of the Agency shall pay to or on behalf of the Housing Authority the amount stated in such demand from the low and moderate income housing fund of the Agency. All expenses of repair and rehabilitation of such units shall be paid by the Housing Authority from moneys derived directly from the low and moderate income housing fund of the Agency. Section 6.The Treasurer of the Housing Authority and the Treasurer of the Agency shall cooperate to establish such special account or accounts as may be necessary or desirable to effectuate the purposes of Sections 4 and 5 hereof. Section 7.The obligation of the Agency to pay amounts to the Housing Authority pursuant to Sections 4 and 5 hereof shall be subordinate to any obligations of the Agency to pay debt service on bonds heretofore or hereafter issued and which are payable from the Agency's low and moderate income housing fund. Section 8.The Secretary of the Housing Authority is hereby authorized and directed to deliver a copy of this Resolution to the Agency and to the Treasurer of the Agency. PASSED, APPROVED AND ADOPTED this 9th day of March, 2006 AYES: BENSON, CRITES, KELLY, SPIEGEL, and FERGUSON NOES: NONE ABSENT: NONE ABSTAIN: NONE ATTEST: ON, CHAIRMAN C' RACHELLE D. KLASSEN, SECRETARY 2