Title
Establishment of a First Time Home Buyer Mortgage Down Payment Assistance Program
Recommended Action
A motion recommending that the City Council approve a Resolution to
1. Establish the First Time Home Buyer Mortgage Down Payment Assistance Program (MDPAP);
2. Appropriate $1,034,137 of Permanent Local Housing Allocation (PLHA) grant funds from allocation years 2021 and 2022; and
3. Authorize the City Manager, or designee, to promulgate the MDPAP guidelines, and negotiate and execute all applicable forms, conditional commitment letters, agreements, and subsequent amendments as needed to implement the MDPAP.