HomeMy WebLinkAboutCC RESO 13,486RESOLUTION NO. 13,486
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL
CITY, CALIFORNIA AUTHORIZING THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY TO APPLY, ON
BEHALF OF THE CITY, TO THE CALIFORNIA HOUSING FINANCE
AGENCY FOR PARTICIPATION BY THE CITY OF NATIONAL CITY
IN A HOME OWNERSHIP AND HOME IMPROVEMENT LOAN PROGRAM
WHEREAS, the California Housing Finance Agency (CHFA) has
a program of Mortgage Assistance for mortgages originated by local
lending institutions on behalf of low and moderate income people
at a rate below the prevailing market rate for such loans; and
WHEREAS, the CHFA has a program of additional financial
assistance for housing rehabilitation within a Community Development
Block Grant "Concentrated Rehabilitation Areas" or "Neighborhood
Preservation Areas" (in National City called "Housing Assistance
Area") for one to four family units at a rate below the prevailing
market rate; and
WHEREAS, such mortgage assistance program and housing
rehabilitation loan program would help home ownership and residential
rehabilitation in National City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of National City, California that the Community Development
Commission of the City of National City is hereby authorized to apply
to the CHFA for its Home Ownership and Home Improvement Loan Program,
and if approved, to administer said Program on behalf of the City of
National City.
PASSED AND ADOPTED this 16th day of December, 1980.
Kile Morgan, yor
Ione Campbell, City