HomeMy Public PortalAbout34 Begin Program TOWN OF TRUCKEE
California
RESOLUTION NO. 2005-34
A RESOLUTION OF THE TOWN OF COUNCIL OF THE TOWN OF TRUCKEE
AUTHORIZING SUBMITTAL OF AN APPLICATION TO THE
CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY
DEVLEOPMENT FOR FUNDING UNDER THE BEGIN PROGRAM AND
THE EXECUTION OF A STANDARD AGREEMENT AND ANY AMENDMENTS
THERETO AND ANY RELATED DOCUMENTS NECESSARY TO
PARTICIPATE IN THE BEGIN PROGRAM
WHEREAS, the Town Council of the Town of Truckee desires to provide
affordable for-sale housing to residents; and
WHEREAS, the Town Council of the Town of Truckee desires to provide
down payment assistance loans to first-time homebuyers for residents; and
WHEREAS, the Town of Truckee wishes to apply for and receive an
allocation of funds through the BEGIN Program; and
WHEREAS, the California Department of Housing and Community
Development (HCD) has issued a Notice of Funding Availability (NOFA) for the
BEGIN Program established by Chapter 14.5, Sections 50860 and 50866 of Part
2 of Division 31 of the Health and Safety Code (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 03/04/05; and
WHEREAS, the Town of Truckee wishes to submit an application to
obtain from HCD an allocation of BEGIN Program funds in the amount of
$330,000 for the StoneRidge development approved by the Planning
Commission through Resolution 2005-08 approved on April 12, 2005.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF
THE TOWN OF TRUCKEE AS FOLLOWS:
1. The Town Council has reviewed and hereby approves the submission
of an application to HCD to participate in the BEGIN Program in
response to the NOFA issued on March 17, 2005.