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HomeMy WebLinkAboutReso 2006-359 RESOLUTION NO. 2006-359 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA (I) ACCEPTING $9,500,000 OF DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 108 LOAN FUNDS AND APPROPRIATING SAID FUNDS TO MUL TIPLE CAPITAL IMPROVEMENT PROJECTS (STL303, STL304, STU05, AND STL306); AND (2) AUTHORIZING THE CITY MANAGER TO EXECUTE ANY AND ALL NECESSARY DOCUMENTS, AGREEMENTS AND AMENDMENTS WHEREAS, the Department of HOlllsing and Urban Development (HUD) has established the Section 108 Loan Guarantee Program (Loan Program) in order to provide below-market rate loans for qualified projects that serve the needs of low and moderate income persons; and WHEREAS, on February 14, 2006, Council approved the submittal of a Section 108 Loan Guarantee Application for the Caslle Park Infrastructure Improvement Project in the amount of $9,500,000; and WHEREAS, on September 20, 2006, HUD approved the Section 108 Loan Guarantee Application in the amount of$9,500,000; and WHEREAS, the loan is contingent upon execution of an Applicant Disclosure Form and a Funding Approval Agreement (attached hJereto as Exhibit 1). NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista accepts $9,500,000 of Department of Housing and Urban Development Section 108 Loan Funds and appropriates said funds to the Castle Park Capital Improvement Project (STU03, STL304, STU05 and STL306). BE IT FURTHER RESOLVED that the City Council of the City of Chula Vista authorizes the City Manager to execute t~e Applicant Disclosure Form and Funding Approval Agreement and is authorized to execute the forthcoming HUD Contract for Loan Guarantee Assistance, Note and all other necessary documents, agreements and amendments. Prer ;)~ Ann Hix Acting Community Development Director Approved as to form by ~~~~C\\\ Ann Moore City Attorney Resolution No. 2006-359 Page 2 PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista, California, this 12th day of December 2006 by the following vote: AYES: Councilmembers: Castaneda, McCann, Ramirez, Rindone, and Cox NAYS: Councilmembers: None ABSENT: Councilmembers: None ATTEST: '/ [ ~1.f./l' ~O 0...-/ Susan Bigelow, MMC, Ci lerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I, Susan Bigelow, City Clerk of ChuIa Vista, California, do hereby certify that the foregoing Resolution No. 2006-359 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 12th day of December 2006. Executed this 12th day of December 2006. ~ -l<-JA'~~~ Susan Bigelow, MMC, City lerk Resolution No. 2006-359 Al'IalfcantlRecipient DisclosurelUpdate Report EXHIBIT 1 u.s, Department 01 Housing andlUrban Development OMS Approlli!l No. 2511HlD11 (.Xp.3/311200:;) Instructions. (See Public Reporting Statement an ApplicantlRecipient Information 1. ApprlC&lltIReciplent Nama, Aadre... and ?hone (include..... <loCe): Privacy Act Statement and detailed Instructions on page 2.) Indicate whelher lhls Is an Inlll.1 Report 0 or.n Update Rlport 0 2. SocieI Security Numb.r or Employer ID Number: ( ) 3. HUD PmQram Name 4. Amount 01 HU Asoistanca Reql.lsstedlReceived 5. Stats 111. name and location (stroet address, CIty and State) of lhs pIlljecl or activlty: Part J Threshold Determinations 1. Are you epplylng for IlSSislance for . sp_ ptOject or eclMly? !!hos. t.rms do not Include formule gnonts, such os pubJic housing op."tIng subsidy or CDSG block grants. (For lur1her lnIonna1lon s.. 24 QFR S 4.3). Dyes DNa 2. Have you received or do you expect to ntceive assistanC& within the jurisdlctlon 01 the Department (HUe) , Involving the p:oject or activity In !his application, In ""c.ss of $200,000 during fhIs fiscal year (Oct. 1 . Sap. 30)7 For further information, ... 24 CPA Sec. 4.9 Dyes D No. If you answered "No. to either question 1 or 2, Stop! You do not need to complete the remainder of this tOIm. However, you must sign the certification at the end of a raport Part 1I Other Government Assistance Provide or Requested I Expected Sources and Use of Funds. Such assistance Includes, but is nct limited 10, any grant, I", , subsidy, guarantee, insurance, payman~ credit, or tax benefit OopaJ!mentlStateII.ocal Agoncy Name and _. T~ .~ of Assislanco Amount Expected Uses of tho Funds ReouestedIPrcvided i f ecessa . I (Note: Use Addltlonal pages I n ry ) Part III Interested Parties. You must disclose: 1. All d.v.lop.... can1raclors, or ccnsuItsnts InYCIved In the epplicaIlon lor !he asslslance or In !he plenning, developm.nt, OI'lmplamOf1talJon of tho prcjecl or ectlvlty end 2. any olher _ who has a flnenciellnlereslln the prcject or aclMty lor Which the essisjanc. is sough! that exceeds $50,000 or 10 percent 01111. lISSislanc. (whichever is 10Wlll). . A1phabelJcelllst 01 all persons with . reportable fInencIaIlntOltlSt In the 'act or acti or IndIviduals. the last nama ftrst (Nolo: Use Addllionlllpagas W necessary.) Certification Warning: If you knowingly make e false s1atoment on 1I1is form, you ","y be subject \0 eMl or criminal pen.IUes under SeclIon 1001 alTiUs 18 of the Untied States Cod.. In a_, any _ who knowingly end rnateflaIIy violata. any required disclosures of JnkInnatlon, including intsnllonal non- disclosure, Is subject 10 civil money ponaI!y not 10 _ $10,000 lor each violallon. I COI!Ily thal1hls Informal!on is true and complete. Signature: I Date: ~) x Form HUD-28llO (3199) 3-5 Resolution No. 2006-359 Page 4 Public reporting bun1en for this COllection of intcrma.tlon is estlmated to average 2..0 hours per response, including the 1ime for reviewing Instructicns, searching existing data sources, gathering and maintaining the data n&9ded., and completing and reviewing the coJlectian of inIormation. "This ag&ney may not conduct or sponsor, and 8: parson Is not required to respond to, a collectIon information unless that aolIectlon displays a valid OMS contra! number. Privacy Act Stalomenl. Excapt tor Soc;al securtIy Numbers {SSNlj and Employer Identification Numbers (=INI). 1I1e Deportment of Housing and Urben Developmenl (HUD) Is autnortzed to coIlact aJlthe Information lllqIJired by Ihls 10I1TI under section 102 of the Department 01 Housing and Url>an DiJV8Iopment Reform Act of ,ga9, 42 U.S.C. 3531. Disclosure of SSNs and EINs is optional. The SSN or aN is used as a unique ldentifler. The intormaflon you provido will enable HUD to cony out Its rvsponsibUllies under Sections 102(b}, (e). and (d) of Iha Department of Housing and Urben DsveIopmenl Reform Act 011989, Pub. L. 101-2S5, approved December 15,1989. The.. plOllislons wRI help ensure greater accountabilily and integtity In the provision of certain types of assistance edministered by HUO. They wtIl also help ensure that HUO assistance for a spacifit: housing project under Section 102{d} is not mere than is necessary to make the project 1easJble after 1aking account af qther government assistance. HUe wll msk8 aY8llabfe to lha public all applicant dlsc;osurv reports tor five yoa~ In Ihe case 01 appRcatlcns for competlllve assistance. and tor ganerally Ih_ years In the case oJ other applicatfons. Update reports wffl be made available along with the disdcsure reports, but in no case for a period generally less than three yea1&. All rvpcrts, boll1 Inlllal rvpcrts and update rvpcrts. wID be made lvellable In ecccrdanca with Iha Frvedom of info/illation Act (5 U.S.C. .552) and HUD's Implemantlng l8gulalions at 24 CFR Parll5. HUO will UlO1I1e inlonnalicn in evaluating individual assIsl8l\Ce appIicatlons and In perlormlng internal admlni"""lIve anaIyees to assist In 1I1e management of specific HUD programs. The [nfOlTllBlicn will also be used In making !he dotenninaticn under SectIgn 102(d) whether HUe assistance for a specific housing project is more than 18 necessary to make the project feasible after taking accmnt of other govammon! ..alslance. You must provide aIIlhe required inlonnation. FaR"", to provide OIlY rsquna intormation may delay the processing of your application, and may rvsutlln sanctions and penaJUes, including imposltion of tho odmlnlslnaJive and clvR money panaJlie. specIIIad under 24 CFR ~.3S. Nom: This form only ccvo~ a..is1ance mada avaJlabla by tho DepaJlmenl. States and unils of genlll'llf local govemmenllhaJ carry out rvspcnslbllllla. under Sectlons 102(b) and (c) of 1119 Reform Act must develop their own pIClC9dures for complying with the ADt. Instructions OVerview. A. COverage. You must ccmplate this rapel1 if: (1) You arv applying lor assistanoe from HUD tor a specific proiect or activity and you have racetved, or expect to r8Celve, assistance IIClTl HUD in excess of $200.000 during the during the fiscal yeor; (2) You arv updoting a prior report .. discussed below; or (3) You are submllllng an application for ..$Istenes to an enllly other Ihan HUO. a S_ or local govermnent U!he application Is required by stelUle or regulation to be submitted to HUD lor approval or tor any othsr pUlpcse. B. Update reports (flied by "Reaiplenlll" 01 HUD Asslslanco~ General. AlIrvcipients of coV9l'ed _stance musl submR update ropens to 1110 DepaJ!msnt to AlIIOCl substentlaJ changes to the lnIlIal oppllcanl d1scios1Jno rvpcns. Un..by.Une Instructions. AppllcanllReclplent Inlonmation. All applicants for HUe campetl1lve assistance. must complete the Information rvqulnlclln blod<s 1-5 of form HUD-2SBO: 1. Enter the fl.lG name, addnilS&., city, Slate, zip coc1e, and telephone numbar {including sree code} of 1!1e applicanVrOC1pient. Where!ho appflCllnl/rocipienlis an individual, the lest nama, tir$t name, and middle initial must be antered. 2. Emry of the applicant/recipient's SSN or EN. as appropriate, is optional. 3. Applicants enter the HUO program name under which the assistance is being requested. 4. Applicants enter 1!1e amount of HUD _lh81 ts being reqU8Sl8d. ReciplenlS enter 1I1e amOllllI of HUO assistenca that has bean pl'DYided and \0 which the upda1e report 11M_. The amounts "'" IhOSO stetad In the application er _ _n. NClTE: In the case of assIslanCB that Is provided pursuant to ccntrBct over a period of tlmo (Iuch IS project.based I_lance W1der .ecticn B of the Untted Slates Housing Act of 1937), the ameum of asaiSUlnCe to be reported indudss all amo1.If1ts that are to be provided over the term of the conbaCl, im1speotive of when they arv 10 be received. 5. Applicants enter Ihe nama and full add..... oIlhe proiect or activlly for which lhe HUe esslstenco ts sought Recipients enter 1!1e nome and tun address of 1he HUO~ssfsted prgjed or acU'Ilty to which the update rvpcrl roIo.... Tho most appropriale govemmant identilying number must be used (e.g.. RFP No.; IFB No.; grant announcement No.; or conlnlct, gmnt. or loan No.) Include prefixes. Part i. Threshold Determinations - Applicants Only Patti conlaJns InlormaIIcn to help Iho appiicent dstermlne whe!her Ihe remainder of lha farm muel be completed. RocIploolllllllng Update Reports should not complete lhls Pari. If the answer to e1lherquestla1s 1 or 21s No, 1!1e appRcant nead not complete Parts Ii and III of the rvporl, but musl.lgn the car1lflCOlion at the end of the form. Parlll Other Governmenl Asslslllnce and Expoctad Sources and Uses of Funds. A. Other Government Asslsllmce. This Pari Is to be completed by bc1h appUcants snd rvc;plants for oss_ and rec;pients filng update ropo"'. Applicants en~ recipients mustropcrl any other govemment assistance involved in the prqect 01" acUvity for which assistance Is soughL ApplIcants and reclpienlS muel rvporl any other govamment _&lance involved In !ho project or activity. Olher _nt assIstenco Is cieflned In nete 4 on Iho last pego. Fer purposes of this dafinIIion, other govomment assistance ts expeeled to be made BVeJIabIe if, based. on an assessment of aD the circumstances Involved, lharo are roesonabIe grounds to lII1llcipate !hat 1!1e asslstenco wRf be forlhcomin9- 60111 appl1canl and recipient dlsotosures must InClude all other govemment assistance involved with. the HUO as.slstanc8, as wen as any other government assistance fhal was made avaiable before the request. but 1I1al has conflnuing vIlaIlly at1l1e llme of 1I1a rvquesl E>wnpIes of this 1_ category Incfude lax credits thai provldo for a number of yem of lax benefils, and g;ant assistance that continues to beneflt1l1e project at 1I1e1lmo of Ihe assistance request Thlt following infonnation must be provided: 1. 1:nter the namo and eddrvss, clly. Stole, an~ Zip ced. of the government agency maklng the assistance aVllnable. 2. State the type or other government assistance (e.g., loan, grant. loan Insurance). 3. Entar 1!1e dollar amount 01 the other _men! esslstenca lha! is, or Is expected to be. made available with resped 10 the project or actlvttles lor which 1I1e HUD _stance Is sought (appllcanls) or has bean provided lroctplents}. 4. use. 01 funda. E!ach reportable u.. of fund. must clearly Idontlfy Ihe pwpose to whlcl11hey are to be put Reasonable aggregotlons may be used. S1.Ich as -tots! strtJCturg- to Include a number at stnJduraI costs. such as roof. elevators, exlBnor masonry I ete. ~-- B. Ncn-Govemment Assistance. Note lhetlho appRcanland recipient disdosure report must specify aD mcpeded sources and uses of funds . bath trem HUe lUId any ofher SQume. that have been or are 10 be. Fo,," HUD-2B80 (3/99) Resolution No. 2006-359 !.'ai~~a.bl. for the project or activity. Ncn-gcv.mment so""'"' 01 funds typicaJly Include (but are nOlllmlled to) Ioundaticns and Plivate ~~~B. : Part ilL Inmrested Parties. ThIs Part is 10 be completed by both eppllcants and rocipienls r'lng update reports. Applicants must provide InIonnation On: ,. All dovolopenl, contreClCnI, '" ccnsultanls Involved in the applk;f.tion tor the assistance or In ths piaMing, developrt1Qnt, or implamentauon or the plCjSC! or Bdlvity Bnd 2. any otMir parson who has a ftnandal interest In the project or aQtlvity for which the assistance is scughlthal exceeds $50,000 or 10 pi,rcent 01 the ..slstance (whichever Is lower). Note: A financial interest means any financial involvement In th, project or activity, incltJdlng (bulnctllmlled to) 6Iluetions in wlli9' an IndMduel or entity has an equity Interest in !he project or activllyf shares in eny profrt on resale or any distribution 01 SlJIpIus cash ~ other assets of the project or activity, or l1lC8ives compensatlon fer any goOdS or ssrvlc:es provided in connection with !he prcject or: activity. Residency of an individual in heusing for wbioh assistallce is being sought is not. by Itself, eonsic:tafad a covered financial inteFl 111e lnIonnetion required below must be provIded. 1. Enter the full names and addresses. If the person is an entfty, ute fistinQ must include the fun name end address of Iht entity as well .. the CEO. PI.... list ell names alphabetically. 2. Entry cI the ScclaI Security Number (SSN) or Employee ldenllfilalicn Number (E1N), as appropriate, lor each persgn listed Is Olltional i 3. Enlet the type of porticlpation in the project or aclivlly for each person nsted: I...., the penlCn's specl1ic rei. In the project (o.Jl., ccntraClCr, consultant, piemer, investor). ' 4. Enter the finandallnterest in the project or activity for each persQln Usted. The inleresl must be expressed both as a dollar amount ~ 8S a percentage of the amount ot!he HUe assi5tance involved. Note that. it any ot the sourcelLlse1ntormation required by this reporti has bean provided .Isewhere "' this application package, the eppl!canl need net repeat the infonnation, but need only refer to the form and loc;atlon to incofllCrale n inlo IhIs report. (It Is likely thai some of !he inlcnnstion requinad by this report has bean pl'Ovk1ed on SF 424A. and on varlous budget forms accompanying the appl)cation.) If this report requires Information beyond that providacl elsewhere in the application package, the applicant must include in this report ail the addJtfcnal infcrmsticn required. Recipients I11lJst submit on update ropert lor any cI1ange in previously disclosed soum.. and usas 01 lunds os provided in Secllon 1.0,5" abov... Nates: 1. All cftalicns are to 24 CFR Part 4, which was published In the Fedoral Register. [April 1; 1 SS6, at sa Fed R.g. 14446.] :2. Assistance means any contract. grant, lean, cooperative agreement. or other farm of assistance, indudlng th&lnsurance or guarantee at a loan or mcrtgage, that is provided with respect to a spscific prcject or aclivlly under a prcgram administered by th. Oepa:1mont. 111e term does net include ccnlradS, = os prccunomonls ccnlmcIs, that are sulljectlo the Fed. Acquisition Regullltion (FAR) (48 Cl'R Chaplet , ~ 3. SOl 24 Cl'R ~4.9 lor deteJled guidance en how th.ll1reshcltl is calculated. 4. -Other government assislanal- is defined to include any loan. gJBnt. guBlWlle&, Insul1U1ce, PBymont, ~a, subsidy, credit, tax benotl~ or B1lY other fonn of dIr8ct or Indirect assistance trcm the Federai government (other.than that l'8qlJ&$ted tram HUO in the application), a Stete, or a unit 01 QenemllccaI QCVSmment, or any agency or instrumental.lty tnereof, that is, or is expected to be made; availal:lle with respect to the project or activities tor which the assistance is soughL 5. For th. pul'JlCS8 of this fcnn end 24 CFR Part 4, "paniCO" rnaens an individual (including B consultant, lobbyist, or Iswyer); ccrpcrBllcn; C<lIllpBny; assccIedcn; eu1hortty; Itrm; partnership; sociely; Stale, unll of general local govaRVn8nt, or other gcvemment entity, or agency thereof (b1dudlng a public housing agency); Indian tribs; and any other organization or group of peopt&.. Form HlID-2SIlO (3199) 3-7 Resolution No. 2006-359 Ifaflalng Approval! Agreement TItle I of the HOUSing and Community Development Act (Publlc Law 930383) HI-00515R of 211515R u.s. Department of Housing end Urban Development Office of Communtty Planning end Development Community Development Blook Grant Program 1. Nama 01 GI!Ilt.. ill- ~ IIsm 5 01 S_ Faml<424) 3. _'5 9-digilTax ID Nu/D)or ~ IlaIt use alfunds IIllIy begia City of Chula VlSln, California ~ 2. G.......s ComllIet1lAddress (BS shawn illil.. 5 af S1and1lli Faml424) Sa. PItljoc:I'G1utNa.l 6L AnumtApjDayad 276 Fourth Avcnue B-OS-MC.Q6..0540 Chula Vista, CA 91910 5h.PIlljedIGrantNa.2 6b._AiJpr0v8d . 50 PrajodlGrant No. 3 ea._1Appmvsd Grant ~ nus Ontal Agrcc:mcnl bctwee:a. the Dcpanmeur. Df HaUSID.& ADd Urtmq Oc'llclcpmcut (HUD) and 1bc. above: ftIU'DCd Otaa1CC IS made pwsulUIt ll) l.bc IUdbQrity ofntlc I oC1hc HODSiagaDci Community ~lActor 1974, asamendcd. (42 use 5301 ct .!cq.). The Gwuee's sublnis:sioM forT'dJc I assistuu:c, Ute: HUD rquJutioas lit 24 CFR Part 570 (as now in effect aDd iD may be amcDde:d fit:lm Lime ID time). aDd Ibis FUIldbac ApprvvuJ, iududiDZIlJI)' special ccmdi.ticms. eaDSdlDtc part or lh. A&r=mcnL Subject tD the pn:Msicns of this Or.ml A&n:emca.t. HUO win make: the rllllding ussismDc:c sp=:ifted bere a'r.illablc to the Omata: apaa encuuon of' lbe Aar=mczzt by the parties. The fu:DdiaallSSis:a:nc: spcciJicd iD the Fwrdiq ApptoVDlmay be used 10 pl.)' costs iDCUn'Cd :lltcr tbt dale speciraed in il:m 4. above provided thr: activities to wbich such eosts are rc.IDtc:d QR =rricd oat in eompfiance with all applia1bh:: rcquin:mcnll. Prc.aar=mem easts m;:y Dot be paid with fuDdin& assistaucc specified here WlIw they aR authorized in HUD n:auIutiaos or ~= by waiver and lisled ill the special CCllditions to 1hI:: Fuadin, Approval. 'IDe Gnmtec agrees to assume 1111 of tbc rcspoasibiUtia far cavinJlUDel1tll review, decisiao makill:,&. and. aaicm. ns IJlccitlcd aud rapLircci i. reguiadcms issued b1 Ole 5cc:Rl>ry pumIlIIIl 10 Sectloa J04(&joCTitlo lllldpoblisbedia 24 en PartSL The o..nlcelutUler _...... i~ n:sp....ibiUty t..._to liIeAp"""" by 5 . "ut entities-to which it nmkes fUDdin IlSSiIlallce berelmder Ilw.ifablc. U.S. 00pII1I0Int 01 HausIn; ancI UIban CtVIiapRIont (By-) Nelson R. Bregon Tille Gencml D S -- City of Chul. Vista Tille SI;natura Dalt~dd'yyyyj 7. alT1IIeI (dI8d< anIy one) o L EnfI1Iom.nt, See 106(b) Db. SIaI9-Adl1linilllIld, See 106(d)(I) o c. HlJD.Administoroci SInai CiIe~ Sea 106(U)l2XB) o cI. _ alBG i'Iu;IIII1S, See IllllaXI) De. SUlIlIus umon_ FunIl~ See lfZ(b) o I. Speciai Pwpase -. See 107 l8I;.I.aenG_Secl08 9L Dale Hue Realiwld S_. (nml/<icI/yyyyJ 9b. 0aIa G_ Naliliad ~ 9c. OallalSlertol P/DgIilI1 Yeer (lllIM!dIyyyyJ 10. cl1odcone o L D<itl. Fund'mg AppIOVIl t81b._ __r FYI FYI FY( lZa. _aILml. Guaranlle ~nt_ bo~ App"",1II1 19,500.000 Loa Guarantee AccepUmce Pravisloas for D.A,. '-" Apilcics: The publie "IC"<)' h=by _ the C_I A.......... ~ by tho Departmc:Dt of Housing aDd Urbaa DcveJopD'll:lll 011 rbc above cia1c with JeSpecl to tbc: ::above put oumbc:r(s) as OnlllleC dtsipl1led to J"CCCive k::an pamllCe wistuce. and aJ:r=S to comply with 1be lermS IUd condiuons of the Agr=mc.o.t. appflClWlc rcgulatlaas. aad 0Ihc:r requirements or HUD now or berc:aI\cr iD ctrcct, pcrtaizlies 10 the assisIarrcc provided it. 12c. Nomo af AlJ_ O_lor Dasignalld Public AQency N1A TIlIa .~ Hue Accounting use Only BaIcII TAC Pro;laIIl Y A Rag.... DoaunontNc. Pmjoc:l_ CaJagDly AIlIaunl _Oabt (rnm'<1<IIyyyy) F [IIJ m [I]] q DO [] [ill] q;g;p [ill 1 o [[IT[] I o diItJ I Dale EnIalad PAS (/lIlIII<I<I'ym) I 0aIa - LOCCS (IIm'rldImyJ I Balch_r 1 TJaI1SOdian Coda Anum! II 10 I I Amaunl \_BY 24 CFR 570 I Vazilie<11ly Ionn HUD-7Q82 14IS3) 3-8 Resolution No. 2006-359 Page 7 8. Special Conditions. (a) In the event the public entity fails to submit notes or other obligations for inspection and guarantee by t:l1e S=etary of Housing and Urban Development (the "Secretary'') before September 30, 2007, the c;ommitment will terminate and expire as of such date. (b) The repayment schedule for tl1e Guaranteed Loan must be acceptable to the Secretary. (c) Pursuant to 24 CPR 570.705(1))(3), the public entity shall provide additional security for the Guaranteed Loan and such additional security must be acceptable to the Secretary. The additional security shall be identified in the Contract fot' Loan Guarantee Assistance sJPecified by !l570.705(b)(1), which will be executed at the time the guaranteed obligations are issued. (d) Prior to submitting notes or other obligations for inspection and guarantee by the Secretary, the public entity shall submit information required under Section 102(1)) of the Department of Housing and Urban Development Reform Act of 1989 (42 V.S.C. 3531). This information shall be submitted on Form HUD-2880 to HUD's Los Angeles Field Office. (e) Any amount of this commitIrjent that is not received by the public entity as an advance under the Guaranteeli Loan by September 30,2012, will be canceled in compliance with 31 USC 15S2(a).