City Council

10.1 CITY OF LYNWOOD MEMBERSHIP IN THE GATEWAY CITIES AFFORDABLE\nHOUSING TRUST, A JOINT POWERS AUTHORITY\nComments:\nEntering into the Gateway Cities Affordable Housing Trust allows private party developers\nto leverage the combined funds available in this multi jurisdictional housing trust. This will\ngive Lynwood access to new capital, improve project competitiveness, support housing\nelement compliance, offer developer support and the city will retain local control. (CD)\nRecommendation:\nStaff recommends that the City Council:\n1. Adopt Resolution No. XX-XX approving the City’s execution of the Joint Exercise of\nPowers Agreement to join the Gateway Cities Affordable Housing Trust,\n2. Authorize the Mayor (or City Manager) to execute the Gateway Cities Affordable\nHousing Trust Joint Powers Authority Agreement; and\n3. Authorized payment of the City’s membership fees in the amount of $32,500 for FY\n2024-25 and $33,507.50 for FY 2025-26, for a total of $66,007.50.