HomeMy WebLinkAboutCC RESO 12,868RESOLUTION NO. 12,868
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
AGINEACY HOMEROWNERSHIPAANDNBY HOMETHE CITY OF IMPROVEMENTNATIONAL 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 substantially 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 substantially 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;
BE IT RESOLVED by the City Council of
California that the Community Development
National City is hereby authorized to
Home Ownership and Home Improvement Loan
to administer said Program on behalf of
NOW, THEREFORE,
the City of National City,
Commission of the City of
apply to the CHFA for its
Program, and if approved,
the City of National City.
ATTEST:
PASSED and ADOPTED this 17th day of October, 1978.
Kile organ, Ma nor
Ione ampbell, Cit 'Clerk