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Resolution No. 6929 398 RESOLUTION NO. 6929 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE COUNTY OF ORANGE TO ACCEPT AN AWARD OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FOR THE PROGRAM YEAR SPANNING JULY 1, 2023 THROUGH JUNE 30, 2024 WHEREAS, on December 29, 2022, the City of Cypress ("City") submitted an application under FY 2023-24 AND FY 2024-25 HOUSING REHABILITATION AND BUSINESS FORGIVABLE LOAN PROGRAM BID NO. 012-23010523-NC to the County of Orange ("County") through its Urban Counties Program for an award of Federal Community Development Block Grant ("CDBG")funds for Fiscal Year 2023-2024 for the following programs: 1) City's single-family housing rehabilitation program, and 2)for the Business Forgivable Loan Program; and WHEREAS, the City was successful in obtaining an award of $160,000 for the housing rehabilitation and the Business Forgivable Loan Program; and WHEREAS, the funds for the single family rehabilitation program will be used to rehabilitate six dwelling units owned by income eligible households; and the Business Forgivable Loan Program will be use to provide funding to businesses that hire a low-income person for a one year. WHEREAS, the City Council now desires to accept the award of CDBG funds and authorize the execution of the necessary agreement(s)and other corresponding documentation to accept the CDBG funds. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CYPRESS HEREBY FINDS, RESOLVES, DETERMINES, AND ORDERS AS FOLLOWS: 1. The City Council hereby accepts the award of CDBG funds through the County's Urban Counties Program in the amount of $160,000.00 to support the City's single family housing rehabilitation program and the Business Forgivable Loan (Grant) program under Bid No. 012-23010523-NC. 2. The City Council authorizes the City Manager or his/her designee(s) to execute, for and on behalf of the City, the necessary agreement(s) and/or any other documents or instruments required by the County and/or the United States Department of Housing and Urban Development for participation in the Urban Counties Program and/or for acceptance of the CDBG funds under Bid No. 012-23010523-NC. PASSED AND ADOPTED by the City Council of the City of Cypress at a regular meeting held on the 12th day of June 2023. 74-0-1-1 ^ affit MAYOR OF THETY OF CYPRESS ATTEST: nn CITY CLERK OF THE CIT OF CYPRESS STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS I, Alisha Farnell, City Clerk of the City of Cypress, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of the said City Council held on the 12th day of June, 2023 by the following roll call vote: AYES: 4 COUNCIL MEMBERS: Burke, Peat, Minikus and Hertz-Mallari NOES: 0 COUNCIL MEMBERS: None ABSENT: 1 COUNCIL MEMBERS: Marquez fl k/V: CITY ERK OF THE ITY OF CYPRESS