HomeMy WebLinkAboutRES 2025-30RESOLUTION 2025-30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND
BAR AUTHORIZING AND APPROVING THE SALE OF $1,3337333 OF
PROPOSITION A FUNDS (LOCAL RETURN TRANSIT FUNDS) TO
CITY OF COMMERCE.
WHEREAS, the City of Diamond Bar wishes to transfer $1,333,333 %J its
uncommitted Proposition A Local Return Transit Funds to City of Commerce to provide
ongoing operating funding and to improve the level, quality, safety, and/or accessibility
of transit services to the general public or to any group which requires special
transportation assistance;
WHEREAS, City of Commerce has offered to assign $1,0007000 in funds to be
deposited to the City of Diamond Bar for any unrestricted purpose; and
WHEREAS, the City Council of the City of Diamond Bar has determined that the
transit needs of the City can be adequately met if this fund exchange is approved.
NOW, THEREFORE, the City Council of the City of Diamond Bar does hereby
resolve as follows:
Section 1. The City Council hereby approves the Prop A Funds Exchange
Agreement, attached hereto as Exhibit A, which provides for the exchange of
$1,333,333 of Diamond Bar Proposition A Local Return Funds in exchange for
$1,000,000 in City of Commerce funds, and further approves the funds to be deposited
to the Diamond Bar Park & Facility Development Fund (262).
Section 2. The City Manager is hereby authorized to sign the Prop A Funds
Exchange Agreement, attached hereto as Exhibit A.
Section 3. The City Clerk shall certify to the adoption of this Resolution and
send certified copies to the City of Commerce.
PASSED, APPROVED AND ADOPTED this 19th day of August 2025.
CITY OF DIAMOND BAR
j
Chia Yu Teng, Mayor
Resolution No. 2025-30
ATTEST:
I, Kristina Santana, City Clerk of the City of Diamond Bar, do hereby certify that the
foregoing Resolution was passed, approved and adopted at a regular meeting of the
City Council of the City of Diamond Bar held on the 19t" day of August 2025, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAINED
Attachments:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Exhibit A — Prop A Funds Exchange Agreement
Chou, Liu, Low, MPT/Tye, M/Teng
None
None
None
Kristina Santana, City Clerk
Docusign Envelope ID: 8C5E5024-BB09-4FOF-B88E-65D33AF4648D
Contract Number #: 202559
FUND TRADE AGREEMENT
BETWEEN THE CITY OF DIAMOND BAR
AND THE CITY OF COMMERCE, CALIFORNIA
This Assignment Agreement is made and entered into this 12th day of August, 20253 by and
between the City of Diamond Bar, California ("Diamond Bar") and the City of Commerce,
California ("Commerce") with respect to the following facts:
A. Diamond Bar has uncommitted funding authority for its Fiscal Years 2025-26 allocation
of Proposition "A" Local Return funds ("Prop A Funds") that can be made available to
Commerce to assist in providing the services discussed in Paragraph B below. Lomita is
willing to assign its uncommitted Prop A Funds to Commerce for the purpose(s)
identified in Paragraph B, in exchange for Commerce's assignment of the amount of its
general funds indicated in Section I below.
B. Commerce proposes to use Diamond Bar's uncommitted Prop A Funds to provide
ongoing transportation operation services (including fixed route, medi-ride, and
recreation) to the residents of Commerce, and to fund specific eligible capital
improvement projects. Adequate Prop A funding for such services is not currently
available, given the limited amount of Commerce's Local Return allocation.
Now, therefore, in consideration of the mutual benefits to be derived by the parties and of the
premises herein contained, it is mutually agreed as follows:
1. Exchan;?e. Diamond Bar agrees to assign $1,333,333 of its Fiscal Year 2025-26
Proposition "A" Local Return funding authority to Commerce. In return, Commerce
agrees to assign $1,000,000 of its general funds to Diamond Bar.
2. Consideration. Diamond Bar shall provide the agreed -upon Proposition "A" Local Return
funds to Commerce in one lump sum payment. Commerce shall also provide the agreed -
upon general funds to Diamond Bar in one lump sum payment. The lump sum payment
by Commerce shall be due and payable upon approval by the Los Angeles Metropolitan
Transportation Authority ("LAMTA") of Diamond Bar's project description (Form A)
covering the services discussed in Paragraph B.
3. Term. This Agreement is effective on the date first written above, and shall continue for
the time necessary for both parties to complete their mutual obligations set forth herein.
4. Termination. This Agreement may be terminated with or without cause by either party
upon five (5) days' written notice to the other party.
Docusign Envelope ID: 8C5E5024-BBO9-4FOF=B88E-65D33AF4648D
5. Notices. Notices shall be given pursuant to this Agreement by personal service on the
party to be notified or by written notice upon such party by certified mail deposited in the
custody of the United States Postal Service addressed as follows.
CITY OF DIAMOND BAR
350 Main Street
Diamond Bar, CA 90245
Attn: Jason Jacobsen, Director of Finance
CITY OF COMMERCE
2535 Commerce Way
Commerce, CA 90040
Attn: Alvaro Castellon, Director of Finance
6. Assurances.
a. Commerce shall use the assigned Proposition "A" Local Return funds only for the
purpose of providing the services discussed in Paragraph B of this Agreement and
within the time limits specified in LAMTA's Proposition "A" Local Return
Program Guidelines.
b. Concurrently with the execution of this Agreement, Commerce shall provide
LAMTA with the Standard Assurances and Understandings Regarding Receipt
and Use of Proposition "A" funds specified in the Guidelines regarding the use of
the assigned Proposition "A" Local Return Funds.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers, duly authorized, on the day and year above written.
CITY OF DIAMOND BAR
DocuSigned by:
By COE9060EF5404H..,
Dan Fox
City Manager
C
ATTEST: D°°uSigned by: l�,�
D6D424FFF14E496...
Kristina Santana
City Clerk
CITY OF COMMERCE
DocuSigned by:
By 417813C51B3NE9...
8/20/2025 Ivan Altamirano 8/13/2025
Mayor
8/20/2025
Page 2 of 3
CDocu9igned by:
al. s�w�
OBOAFF3NAF6424...
Lena Shumway
City Clerk
8/13/2025
Docusign Envelope ID: 8C5E5024-BB09-4FOF-B88E-65D33AF4648D
Approved as to Form:
CSigned by:
4FBD2446CBF547C...
Omar Sandoval
City Attorney
Approved as to Form:
8/13/2025 Noel Tapia
City Attorney
Page 3 of 3
CSigned by:
Not�, "raffia
84828598E7F647A...
8/13/2025