HomeMy WebLinkAboutRES NO 212-05
RESOLUTION NO. 2 1 2 - 0 5
A RESOLUTION OF THE COUNCIL OF THE CITY OF BAKERSFIELD
AUTHORIZING THE SUBMISSION 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 Bakersfield (a charter city and municipal corporation) has
determined that a high priority exists for affordable ownership housing for first-time low-income
homebuyers; and
WHEREAS, the City of Bakersfield received $500,000 in 2002 from California Housing
and Finance Agency (CaIHFA HELP Loan) to construct in-fill housing in a designated southeast
Bakersfield community called the Southeast Bakersfield Redevelopment Project Area: 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
CalHome program established by Chapter 84, Statutes of 2000 (SB 1656 Alarcon), and codified
in Chapter 6 (commencing with Section 59650) of part 2 of Division 31 of the Health and Safety
Code (the "statute"): and HCD is authorized to approve funding allocations utilizing monies
made available by the State Legislature to the CalHome program, subject to the terms and
conditions of the statute and the CalHome Program Regulations adopted by HCD on August
15,2003:and
WHEREAS, the City of Bakersfield wishes to apply for and receive a grant through the
2005 CalHome Program for mortgage assistance in the amount of $477,000 to benefit up to
fifteen first-time low-income homebuyers over a three year period who participate in the
Southeast Bakersfield Infill Housing Project: and
WHEREAS, the City Manager or his designee is authorized to submit the CalHome
application in response to the NOFA and all understandings and assurances contained therein,
and to act in connection with the application to provide such additional information as may be
required.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Bakersfield as
follows:
SECTION 1. The City of Bakersfield shall submit to HCD an application to participate in
the CalHome Program in response to the NOFA issued on August 10, 2005 which will request a
funding allocation for the Southeast Bakersfield Infill Housing Project for the following activities:
Within the Southeast Bakersfield Redevelopment Project Area, deferred-payment
second mortgage loans ($450,000±) to approximately fifteen qualified and eligible first-time
buyers at simple interest (0% to 3%) up to $30,000; homebuyer education ($8,500±) provided
to individuals who also receive home purchase funds: and loan processing activity delivery fees
($18,500±) directly related to closed home loans.
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SECTION 2. If the application for funding is approved, the City of Bakersfield hereby
agrees to use the CalHome funds for eligible activities in the manner presented in the
application as approved by HCD and in accordance with program Guidelines cited above. It
also may execute any and all other instruments necessary or required by HCD for participation
in the CalHome Program.
SECTION 3. The City of Bakersfield authorizes the City Manager or his designee. to
execute in the name of the City of Bakersfield the application, the Standard Agreement, and all
other documents required by HCD for participation in the CalHome Program, and any
amendments thereto.
SECTION 4. This Resolution shall be effective immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the
CouncilSEQf 2 the City of Bakersfield at a regular meeting thereof held on
I" j 2005 by the following vote:
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ABSTAIN:
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COUNCILMEMBER CARSON, BENHAM, MAGGARD, COUCH, HANSON, SULLIVAN, SCRIVNER
COUNCILMEMBER
COUNCILMEMBER
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CITY CLERK and Ex Officio Clerk of the
Council of the City of Bakersfield
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HARVEY L. HALL
MAYOR of the City of Bakersfield
APPROVED as to form:
VIRGINIA GENNARO
City Attorney
By: øIÁ a. Jk
ALLEN SHAW
Deputy City Attorney
S:\Agreement\2005 RESOS\2005 CalHOME resQ.doc
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