HomeMy WebLinkAboutResolution No. 14-7499 - Authorizing Submittal of an Application to California State Department of Housing & Comm Dev For Funding Under The Calhome ProgramRESOLUTION NO. 14-7499
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
AUTHORIZING THE SUBMITTAL OF AN APPLICATION TO THE
CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT FOR FUNDING UNDER THE CALHOME PROGRAM;
THE EXECUTION OF A STANDARD AGREEMENT IF SELECTED FOR
SUCH FUNDING AND ANY AMENDMENTS THERETO; AND ANY
RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN THE
CALHOME PROGRAM
WHEREAS, the City of Downey, a municipal corporation and charter city, wishes to
apply for and receive an allocation of funds through the CaIHome Program; and,
WHEREAS, the California Department of Housing and Community Development
(hereinafter referred to as “HCD”) has issued a Notice of Funding Availability (“NOFA”) for the
CaIHome program established by Chapter 84, Statutes of 2000 (SB 1656 Alarcon), and codified
in Chapter 6 (commencing with Section 50650) of Part 2 of Division 31 of the Health and Safety
Code (the “Statute”). Pursuant to the Statute, HCD is authorized to approve funding allocations
utilizing monies made available by the State Legislature to the CaIHome program, subject to the
terms and conditions of the Statute and the CaIHome Program Regulations adopted by HCD in
April 2004; and,
WHEREAS, the City of Downey wishes to submit an application to obtain from HCD an
allocation of CaIHome funds in the amount of One Million Dollars ($1,000,000).
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City of Downey shall submit to HCD an application to participate in the
CaIHome Program in response to the NOFA which will request a funding allocation for the
following activities:
Thirteen (13) First-Time Homebuyer (FTHB) Deferred Loans up to $60,000 each; Seven
(7) of the thirteen (13) FTHB deferred loans shall be awarded to qualified candidates for
the seven (7) unit development located at 9303-09 Elm Vista Drive, Downey, CA 90242
In addition, approximately four (4) Owner Occupied Rehabilitation Deferred Loans up to
$60,000 shall be awarded to qualified candidates
Program/project location(s)
The First-Time Homebuyer Program & Owner Occupied Rehabilitation activities shall be
located throughout the City of Downey.
SECTION 2. If the application for funding is approved, the City of Downey hereby agrees
to use the CaIHome funds for eligible activities in the manner presented in the application as
approved by HCD and in accordance with program regulations cited above. It also may execute
any and all other instruments necessary or required by HCD for participation in the CaIHome
Program
SECTION 3. The City of Downey authorizes the City Manager to execute in the name of
the City of Downey the Standard Agreement, and all other documents required by HCD for
participation in the CaIHome Program, and any amendments thereto.
RESOLUTION NO. 14-7499
PAGE 2
SECTION 4. The City Clerk shall certify to the adoption of this Resolution
APPROVED AND ADOPTED THIS 8thday of July, 20
?EmM ’DO VASQUEZ, Mayor
ATTEST
in
City Clerk
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of the
City of Downey at a regular meeting thereof held on the 8th day of July, 2014, by the following
vote, to wit:
AYES:
NOES:
ABSTAIN
ABSENT:
Council Members:
Council Members:
Council Members:
Council Members:
Brossmer, Guerra, Saab, Marquez, Mayor Vasquez
None
None
None
City Clerk