HomeMy WebLinkAboutReso 2006-141 - Home Investment Partnerships
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RESOLUTION NO. 2006 - 141
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 PARTICIPATE 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 ofthe California Code of Regulations commencing with section 8200; and,
WHEREAS, on June I, 2006, the Department issued a 2006 Notice of Funding Availability announcing the
availability of funds under the HOME program (the "NOFA"); and
WHEREAS, in response to the 2006 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 2006 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 One Hundred Twenty Thousand Dollars
($120,000) 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, the 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 on the 1 sl day of August, 2006, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: Mathena, Pohlmeyer, Stegall, and Murray
COUNCIL MEMBERS: None
COUNCIL MEMBERS: Dickerson
COUNCIL MEMBERS: None
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ATTEST:> .;- ,:
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Clerk
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RICHARD A. DUVERNAY, Ci Attorney