Resolution 2010-18
RESOLUTION NO. 2010-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GILROY HEREBY
AUTHORIZING THE SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA
STATE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT FOR
FUNDING UNDER THE BEGIN PROGRAM; THE EXECUTION OF A STANDARD
AGREEMENT IF SELECTED FOR SUCH FUNDING AND ANY AMENDMENTS
THERETO; AND ANY RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN
THE BEGIN PROGRAM.
WHEREAS:
A. The City of Gilroy, a political subdivision of the State of California, wishes to apply for
and receive an allocation of funds through the BEGIN Program; and
B. The California Department of Housing and Community Development (hereinafter
referred to as "HCD") has issued a Notice of Funding Availability (''NOF A") for the
BEGIN Program established by Chapter 14.5. Sections 50860 through 50866 of Part 2 of
Division 31 of the Health and Safety Code (the "statute"). Pursuant to the statute, HCD
is authorized to approve funding allocations utilizing monies made available by the State
Legislature to the BEGIN program, subject to the terms and conditions of the statute and
the BEGIN Program Guidelines adopted as amended by HCD on OS/21/07; and
C. The City of Gilroy wishes to submit an application to obtain from HCD an allocation of
BEGIN Program funds in the amount of$I,372,800.
IT IS NOW THEREFORE RESOLVED THAT:
1. The City of Gilroy shall submit to HCD an application to participate in the BEGIN
Program in response to the NOFA issued on April 17, 2010 which will request a funding
allocation for the following activities:
Down payment assistance not to exceed 20% of sales price, with an average loan amount
of $57,200 per household, for twenty-four (24) low income households in the Alexander
Place Development located at 211 Lewis Street in the City of Gilroy in Santa Clara
County, California.
2. If the application for funding is approved, the City of Gilroy hereby agrees to use the
BEGIN Program funds for eligible activities in the manner presented in the application as
approved by HCD and in accordance with program Guidelines cited above. It also may
execute any and all other instruments necessary or required by HCD for participation in
the BEGIN Program.
RESOLUTION NO. 2010-18
PASSED AND ADOPTED this 17th day of May, 2010, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ATT~ST:
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Shawna Freels, City Clerk
ARELLANO, BRACCO, DILLON,
GARTMAN, TUCKER, WOODWARD
and PINHEIRO
NONE
NONE
APPROVED:
~
Pinheiro, Mayor
RESOLUTION NO. 2010-18
I, SHA WNA FREELS, City Clerk of the City of Gilroy, do hereby certify that the
attached Resolution No. 2010-18 is an original resolution, or true and correct copy of a city
resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said Council
held on the 17TH day of May, 2010, at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official Seal of
the City of Gilroy this 18th day of May, 2010.
n.
Sha a reels, CMC
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City Clerk of the City 0
(Seal)