HomeMy WebLinkAboutReso 2004-135 - Home Investment Partnership
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RESOLUTION NO. 2004-135
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING AUTHORIZING THE
SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING
AND COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE HOME INVESTMENT
PARTNERSHIPS PROGRAM; AND IF SELECTED, THE EXECUTION OF A STANDARD
AGREEMENT, ANY AMENDMENTS THERETO, AND OF ANY RELATED DOCUMENTS NECESSARY
TO P ARTICIP ATE IN THE HOME INVESTMENT PARTNERSHIPS 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 July 30,2004, the Department issued a 2004 Notice of Funding Availability announcing the availability
of funds under the HOME program (the "NOFA"); and
WHEREAS, in response to the 2004 NOF A, the City of Redding, a municipal corporation, wishes to apply to the
Department for, and receive an allocation of, HOME funds.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Redding:
1. In response to the 2004 NOF A, authorizes the submittal of an application to the Department to participate
in the HOME program and for an allocation of funds not to exceed Two Hundred Thousand Dollars
($200,000) for use by low-income, first-time homebuyers for downpayment assistance on the purchase of
a principal residence in the City of Redding under the American Dream Downpayment Initiative.
2. If the application for funding is approved, 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 City 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, thtl required documents).
3. Authorizes the City Manager or his designee(s) to execute, in the name of the City of Redding, the required
documents.
I HEREBY CERTIFY that the foregoing resolution was introduced, read and adopted at a regular meeting
of the City Council of the City of Redding on the 7th day of September 2004 and was duly adopted at said meeting by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Cibula, Kight, Mathena, Stegall, and Pohlmeyer
None
None
None
Attest:
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Form Approved:
LYNETTE M. FREDIANI, Interim City Attorney
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By: Barry E. DeWalt, Assistant City Attorney
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