City Council

11.3 Consideration and Approval of a Resolution Approving a Loan\nAgreement with Hub Cities Consortium for Financial\nAssistance\nRECOMMENDATION: It is staff's recommendation that the City\nCouncil:\n1. Adopt the attached Resolution appropriating a loan to Hub\nCities Consortium from the General Fund in an amount not to\nexceed $90,834, for financial assistance as a member agency;\nand\n2. Authorize the City Manager to enter into a loan agreement,\napproved as to form by the City Attorney.\nCONCLUSION: With the City of Bell Gardens and the other five city\nmembers’ financial assistance, Hub Cities will be able to continue to\nprovide services to the residents of the Southeast LA communities\nthrough the end of the fiscal year (June 30, 2025).\nFISCAL IMPACT: An appropriation of funding in the form of a loan\nfrom the General Fund in a not to exceed amount of $90,834.00 to\nprovide Hub Cities financial assistance as a member agency. If other\nHub Cities city members approve funding that is less than their 1/6th\nproportionate share, then the Bell Gardens loan amount shall be\nlowered accordingly.\nATTACHMENTS: Exhibit 1 - Resolution No. 2025-16\nExhibit 2 - JPA Agreement