HomeMy WebLinkAbout1997-01-28; City Council; Resolution 97-29I/ a . 1 II CITY COUNCIL RESOLUTION NO. 9 7 - 2 9
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROPRIATING $21,051 FOR THE CITY'S
PROPORTIONATE SHARE OF THE SAN DIEGO COUNTY REGIONAL
MORTGAGE CREDIT CERTIFICATE PROGRAM RELATED OPERATING
EXPENSES.
1 I WHEREAS, there is a continued need for affordable home ownership opportunities withi
City of Carlsbad for qualified first time home buyers;
WHEREAS, on February 15, 1994, the City of Carlsbad adopted the San Diego Cc
Regional Mortgage Credit Certificate Program for the purpose of increasing home owne
opportunities for first time home buyers and approved the associated Cooperative Agreement bet
the County of San Diego and the City to implement the Program;
WHEREAS, participating cities have agreed to contribute funds to pay for the San C
County Regional MCC Program related operating expenses as a condition of receiving an 1
allocation. The amount to be contributed by each participating city is based on the formula of $30(
$100,000 in allocation received; and,
WHEREAS, adequate funds are available in the General Fund balance which have
designated by City Council for the specific purpose of increasing affordable housing opportunities;
NOW, THEREFORE, BE IT HEREBY RESOLVED, by the City Council of the Cit
Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the City Council hereby appropriates $21,051 from the amounts designated in
General Fund for affordable housing purposes to pay the City's proportionate share o
San Diego County Regional Mortgage Credit Certificate Program related operating expe
for FYs 1994-95, 1995-96, and 1996-97
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council of the
of Carlsbad, California, held on the 28th day of January , 1997, by the fo1lo.c
vote, to wit:
AYES: Council Members Lewis, Finnila, Nygaard, Kulchin and Hall
NOES: None
ABSENT: None
ABSTAIN: None
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ATTEST:
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ALETHA L. RkUT
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