HomeMy Public PortalAbout86-028 (04-01-86)RESOLUTION NO. 86-28
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LYNWOOD APPROVING AND AUTHORIZING AN AMENDMENT TO
THE CITY'S RESIDENTIAL REHABILITATION PROGRAM
REGULATIONS MANUAL TO INCLUDE A PROVISION TO PAY
FOR ESCROW FEES FOR QUALIFIED HOMEOWNERS
WHEREAS, the City has authorized a Housing Rehabilitation
Program as part of an adopted Community Development Block Grant
Program; and
WHEREAS, on November 5, 1985, City Council approved an
agreement with Security Pacific National Bank to provide financial
services in support of its Residential Rehabilitation Loan Program
for fiscal year 1985-86; and
WHEREAS, part of this agreement involves the payment of
escrow fees by homeowners to process residential rehabilitation
loans and grants; and
WHEREAS, there is a need to provide financial assistance
for the payment of escrow fees for qualified homeowners receiving
a Deferred Payment Loan or an Emergency Grant who cannot,"afford
to.
NOW, THEREFORE, the City Council of the City of Lynwood;
does hereby resolve as follows: -
SECTION 1. That the Residential Rehabilitation' Program
Regulations Manual be amended to include Section 2-.08 Escrow Fees
to provide financial assistance to pay escrow fees for qualified
homeowners receiving a Deferred Payment Loan or an Emergency
Grant who cannot afford such payments.
PASSED, APPROVED, and ADOPTED this lst day of April,
1986.
ROBERT HENNING, May r
ATT~EST:' / City of Lynwood
ANDREA L. HOOPER, City lerk
City of Lynwood APPROVED AS TO CONTENT:
~ APPROVED AS TO FORM:
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City Attorney
7
VICENTE L. MAS, Director
Community Development Department
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Acc~ing Manager
STATE OF CALIFONIA )
ss.
COUNTY OF LOS ANGELES)
I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the foregoing resolution was passed
and adopted by the City Council of the City of Lynwood at
a regular meeting held on the 1st day of April 1986.
AYES: COUNCILPERSON BYORK, MORRIS, THOMPSON, tiVELLS, HENNINC
NOES: NONE
ABSENT: NONE
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ANDREA L. HOOPER, City 'lerk
City of Lynwood
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