HomeMy WebLinkAbout1999-05-13; Housing Commission; Resolution 99-004c
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HOUSING COMMISSION RESOLUTION NO. 99-004
A RESOLUTION OF THE HOUSING COMMISSION OF THE CITY
OF CARLSBAD, CALIFORNIA RECOMMENDING APPROVAL TO
THE CITY COUNCIL TO ALLOCATE $50,000 FROM THE
HOUSING TRUST FUND TO ESTABLISH THE MODERATE
INCOME LOAN PROGRAM TO PROVIDE DOWNPAYMENT
ASSISTANCE TO FIRST TIME MODERATE INCOME
HOMEBUYERS PURCHASE HOMES IN THE CITY OF CARLSBAD.
WHEREAS, the City of Carlsbad’s Housing Element identifies and analyzes the existing and
projected housing needs and list goals, policies, objectives, resources and programs for the preservation,
improvement and development of housing; and
WHEREAS, the Housing Element further identifies short-term objectives, policy positions, and
action programs which can be utilized to achieve the long-term housing goals of the City of Carlsbad;
and
WHEREAS, the Housing Element seeks to provide a variety of housing opportunities for
households of all income levels; and
WHEREAS, Goal 3.10(b) of the Housing Element states that the City of Carlsbad’s Housing
and Redevelopment Department will work to secure hding and develop additional lending programs
for moderate income, especially first- time home buyers; and
WHEREAS, on May 13, 1999, the Housing Commission held a public meeting to consider the
Moderate Income Loan Program to provide downpayment assistance to first-time moderate income
homebuyers purchase homes in the City of Carlsbad; and
WHEREAS, at said public meeting, upon hearing and considering all testimony, if any, of all
persons desiring to be heard, said Commission considered all factors relating to the Moderate Income
Homebuyer Program;
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing Commission of the City of
Carlsbad, California, as follows:
1 . The above recitations are true and correct.
2. The Program is consistent with the goals and objectives of the City of Carlsbad’s Housing
Element, the Consolidated Plan, the Inclusionary Housing Ordinance, and the Carlsbad
General Plan.
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3.
4.
5.
The project will provide a minimum of 10 home-buying opportunities for moderate income
first-time homebuyers at 120% or below of the county median income. The Program,
therefore, has the ability to effectively serve the City's housing needs and priorities as
expressed in the Housing Element.
That based on the information provided within the Housing Commission Staff Report and
testimony presented during the public meeting of the Housing Commission on May 13, 1999,
the Housing Commission ADOPTS Resolution No. 99-004, recommending APPROVAL to
the City Council to allocate $50,000 from the Housing Trust Fund to establish a Moderate
Income Homebuyer Assistance Program to provide downpayment assistance to first-time
moderate income homebuyers to purchase homes in the City of Carlsbad, and approval of the
related loan and security agreements.
That the Housing Commission recommends that the City Manager or his designee be
authorized to execute all documents related to provision of the City assistance, includmg but
not limited to a Promissory Note, Deed of Trust and Borrower Disclosure in substantially the
form presented to the Housing Commission on May 13, 1999, and subject to review and
approval by the City Attorney.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing Commission of
he City of Carlsbad, California, held on the 13th day of May, 1999, by the following vote, to wit:
AYES:
NOES: None.
ABSENT: None.
ABSTAIN: None.
Chairperson Latas, Commissioners: Scarpelli, Rose and McNeill.
n
CHAIRPERSON
COMMISSION
1c. L\ A
DEBORAH K. FOUNTAIN
3OUSING AND REDEVELOPMENT DIRECTOR
-IC RESO. No. 99-004
)ACE 2