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RES 03110
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RES 03110
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10/24/2003 4:32:11 PM
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10/24/2003 4:30:55 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
10/21/2003
DOCUMENT NO
RES 03110
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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, ALAMEDA <br /> <br /> RESOLUTION NO. 03-110 <br /> <br /> RESOLUTION APPROVING GUIDELINES FOR A <br />DOWN PAYMENT ASSISTANCE PROGRAM USING <br />CALIFORNIA HOUSING FINANCE AGENCY H.E.L.P. <br />(HOUSING ENABLED BY LOCAL PARTNERSHIPS) FUNDS <br /> <br />WHEREAS, <br /> <br />the Housing Element of the City's General Plan includes goals and policies <br />promoting the enhancement of home ownership opportunities for low- and <br />moderate-income households, including seeking State and Federal assistance to <br />promote home ownership opportunities; and <br /> <br />WHEREAS, <br /> <br />the City of Pleasanton submitted an application to the California Housing Finance <br />Agency (CalHFA) Housing Enabled by Local Partnerships (HELP) program in <br />April 2003 for the purpose of establishing a down payment assistance program in <br />Pleasanton; and <br /> <br />WHEREAS, the City of Pleasanton's application for $450,000 in HELP funds was approved by <br /> CalHFA on June 26, 2003; and <br /> <br />WHEREAS, <br /> <br />at its meeting of September 2, 2003, the City Council reviewed the report of the <br />City Manager (SR:03:250) regarding the approval of guidelines for a down <br />payment assistance program using HELP funds to assist low and moderate income <br />Pleasanton home buyers; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1. Council approves the guidelines as included in Exhibit One for the down payment <br />assistance program as included in Attachment 6 of the City Council staff report (SR:03:250). <br /> <br />Section 2. Council approves the allocation of $160,000 from the City's Lower Income Housing <br />Fund to supplement the HELP funding. City Housing Funds shall be used specifically for loans <br />to households that are considered "low income" (i.e., 80% or less of the Area Median Income). <br /> <br />Section 3. This resolution shall become effective immediately upon its passage and adoption. <br /> <br /> <br />
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