HomeMy Public PortalAbout2006-028 (02-21-06)RESOLUTION NO. ~nnF_roR
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING AMENDMENTS TO THE HOUSING REHABILITATION
PROGRAM GUIDELINES
WHEREAS, The City of Lynwood is a participating jurisdiction of the
HOME Program and receives an allocation of federal funds to provide affordable
housing for low income households; and
WHEREAS, The Lynwood City Council has adopted a Housing
Rehabilitation Program to address the housing needs and enhance the overall
housing conditions 'and increase affordable housing opportunities to principally
benefit low income households; and
WHEREAS, The HOME funded housing programs are administered by
the City of Lynwood in compliance with the federal regulations established by the
Department of Housing and Urban Development (HUD); and
WHEREAS, The federal regulations provide opportunities for the City of
Lynwood to establish programs and develop program guidelines according to the
local housing needs.
NOW, THEREFORE, The City Council does hereby resolve as follows:
Section 1. That the City of Lynwood Housing Rehabilitation Guidelines are
hereby amended to read as follows:
SECTION III.. Types of Financial Assistance
A. Grants & Loans
1. A maximum grant amount of $10,000.
2. A maximum loan amount of $65,000 with 0% interest. One-third of
the loan amount will be applied to exterior improvements.
3. Loan amount due and payable upon sale, transfer of property or
when refinancing to receive cash out.
4. A homeowner can receive both a grant and loan up to a maximum
of $75,000.
5. Per HUD guidelines a homeowner can only receive assistance
once per property.
Section 2. That the City Manager or designee is authorized to prepare and
execute any such documents related to the amendment to the guidelines.
Section 3. That this resolution takes effect immediately upon its adoption.
PASSED, APPROVED, and adopted this 2152 day of February 2006.
Leticia Vasquez, Ma r
ATTEST:
Andrea L. Hooper, City Clerk . Enri ue Martin z, City Manager
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
irk Pelser, Interim Director of
Redevelopment ~,-„~a,~'~-//s.~. w.~P.4,~
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that
the above and foregoing resolution was duly adopted by the City Council of the
City of Lynwood at a regular meeting held in the City Hall of said City on the day
of February 21st , 2006, and passed by the following vote:
AYES: COUNCILMEN BYRD, JOHNSON, PEDROZA, SANTILLAN AND YASQUEZ
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
C~fi7t-~.t~ v~~ y'7
City Clerk, City of Lynwood
r
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
ss.
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City
Council of said City, do hereby certify that the above and forgoing is a full, true
and correct copy of Resolution No. 2006.028 on file in my office and that
said resolution was adopted on the date and by the vote therein stated.
Dated this
21st day of February , 2006.
City Clerk, City of Lynwood
~I
~,