HomeMy WebLinkAbout2008-07-08 - AGENDA REPORTS - HOME FUNDS APPLICATION (2)CONSENT CALENDAR
DATE:
SUBJECT:
DEPARTMENT:
Agenda Item:
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval:
Item to be presented by:
July 8, 2008
ADOPTION OF RESOLUTION TO APPLY FOR AND ACCEPT
HOME FUNDS
Community Development
RECOMMENDED ACTION
City Council adopt a resolution supporting the City's application for HOME funds in the amount
of $800,000, and authorize the City Manager or designee to execute any contracts, change orders,
or amendments arising out of this program, subject to City Attorney approval.
BACKGROUND
Since 2002, the City has operated the FirstHOME Program, which provides low-interest,
deferred -payment second mortgage loans to be used as down payments on a home in the City of
Santa Clarita. Past loans have been made using a combination of the proceeds from repaid
earthquake rehabilitation loans and $600,000 from a 2004 HOME grant. The City currently has a
portfolio of nine FirstHOME loans with a value of over $1,000,000. All available loan funds
have been exhausted and new funds are needed to continue the program.
The State of California Department of Housing and Community Development has released a
Notice of Funding Availability (NOFA) for first-time homebuyer program funds. The City is
eligible to apply for $800,000 in funding, which would allow the FirstHOME Program to provide
four (4) or five (5) new deferred -payment second mortgage loans to first-time homebuyers.
ALTERNATIVE ACTIONS
Other actions as determined by the City Council.
FISCAL IMPACT
There is no impact to the General Fund. Administrative costs to implement the FirstHOME
Program may be paid out of the HOME grant.
ATTACHMENTS
Resolution
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, AUTHORIZING THE SUBMITTAL OF AN
APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE
HOME INVESTMENT PARTNERSHIP PROGRAM
WHEREAS, the California Department of Housing and Community Development (the
"Department") is authorized to allocate HOME Investment Partnerships Program ("HOME")
funds made available from- the U.S. Department of Housing and Urban Development
("HUD"). HOME funds are to be used for the purposes set forth in Title II of the
Cranston -Gonzalez National Affordable Housing Act, of 1990, in federal implementing
regulations set forth in Title 24 of the Code of Federal Regulations, Part 92, and in Title 25 of the
California Code of Regulations commencing with Section 8200; and
WHEREAS, on June 2, 2008, the Department issued a 2008 Notice of Funding
Availability announcing the availability of funds under the HOME program (the "NOFA"); and
WHEREAS, in response to the 2008 NOFA, the City of Santa Clarita, a political
subdivision of the State of California (the "Applicant'), wishes to apply to the Department for,
and receive an allocation of, HOME funds.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. In response to the 2008 NOFA, the Applicant shall submit an application
to the Department to participate in the HOME program and for an allocation of funds not to
exceed Eight Hundred Thousand Dollars ($800,000) for the following activities and/or
programs: the FirstHOME Program, in which the City provides low-interest, deferred -payment
second mortgage loans to eligible low- and moderate -income first-time homebuyers, for homes
to be located in the City of Santa Clarita.
SECTION 2. If the application for funding is approved, the Applicant hereby agrees to
use the HOME funds for eligible activities in the manner presented in its application as approved
by the Department in accordance with the statutes and regulations cited above. The Applicant
may also execute a standard agreement, any amendments thereto, and any and all other
documents or instruments necessary or required by the Department or HUD for participation in
the HOME program (collectively, the required documents).
SECTION 3. The applicant authorizes Kenneth R. Pulskamp, City Manager, or his
designee(s) to execute, in the name of the applicant, the required documents.
SECTION 4. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this day of , 2008.
MAYOR
ATTEST:
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC, City Clerk of the City of Santa Clarita, do hereby certify that
the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the day of , 2008, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
2
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
CERTIFICATION OF
CITY COUNCIL RESOLUTION
I, Sharon L. Dawson, City Clerk of the City of Santa Clarita, do hereby certify that this is a true
and correct copy of the original Resolution No. , adopted by the City Council of the City
of Santa Clarita, California on July 8, 2008, which is now on file in my office.
Witness my hand and seal of the City of Santa Clarita, California, this day of
)20—.
Sharon L. Dawson, CMC
City Clerk
By
Susan Caputo
Deputy City Clerk
r
3