R-10481City Counc1 Meeting: 06-8-10
RESOLUTION NUMBER
ATTACHMENT A
Santa Monica, California
~oasi {CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA
AUTHORIZING: THE SUBMITTAL OFAN APPLICATION TO THE CALIFORNIA
STATE DEPARTMENT OF HOUSING ANA COMMUNITY DEVELOPMENT FOR
FUNDING UNDER THE BUlLD1NG EQI:lITI' AND GROWTH IN NEIGHBORHOODS
(BEGIN) PROGRAM; THE EXECUTION OF A STANDARD AGREEMENT IF
SELECTED FOR SUCH FUNDING AND ANY AMENDMENTS THERETO; AND ,
ANY OTHER RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN THE
BEGIN PROGRAM
WHEREAS, the City of Santa Monica (City) 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 through 50866 of Part 2 of Division 31 of
the Health and Safety Code (Statute); "Pursuant to the Statute, HGD is authorized to
;,.,
approve funding allocations utilizing monies. made available by the State Legislature to
the BEGIN Program; subject to the #erms and conditions of the Statute and the BEGIN
Program Guidelines adopted as amended by HCD on 4121/09; and
WHEREAS, the Ci#y wishes to submit an application to obtain from HCD an
allocation of BEGIN Program funds in the amount of $2;115,000.
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„_ ATTACHMENT A
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The City shall submit to HCD an application to participate in the
BEGIN Program in response to the NOFA issued on April 19, 2010 which will request a
funding allocation for the following activities:
• Mortgage assistance loans to moderate income, first-time homebuyer
households in the aggregate amount of $2,115,000 to purchase
residences to be located at 1943-1959 High Place, Santa Monica, CA;
SECTION 2. If the application for funding is approved, the City 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 the program Guidelines cited in
this resolution. The City. also may execute any and all other instruments necessary or
required by HCD for participation in the BEGIN Program.
SECTION 3. The City authorizes the City Manager to execute in the name of the
City, the .application, the Standard Agreement, and all other .documents required by
HCD for participation in the BEGIN Program, and any amendments thereto.
SECTION 4. The City Clerk shale certify to the adoption of this Resolution, and
thenceforth and thereafter the same shall be iri full force and effect.
D AS TO FORM:
City F(ttyorney
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Adopted and approved this 8t" day of June,
I; Maria Stewart, City Clerk of the City of Santa Monica, do hereby certify that the
foregoing Resolution No. 10481 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 8~" day of June, 2010, by the following vote:
Ayes: Councilmembers: Bloom, O'Day, Holbrook, Davis, McKeown
Mayor Pro Tem O'Connor, Mayor Shriver
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: None
ATTEST:
a..~
Maria Stewart, ity Clerk