1998-158-RES WHEREAS, TEXAS DEPT OF HOUSING AND COMMUNITY AFFAIRS PROVIDES FUNDING

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RESOLUTION NO. 98-158 WHEREAS, tl1e Texas Department of Housing and Community Affairs provides funding under the Texas Home Investment Partnership Program for funds to carry out the reduction of loan fees and down payments for home buyers; and, WHEREAS, the City Council of the City of Paris desires to develop a viable urban community, including decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low to moderate income; and, WHEREAS, certain conditions exist which represent a threat to public health and safety; and, WHEREAS, it is necessary and in the best interests of the City of Paris to apply for funding under the 1999 Texas Home Investment Partnership Program; and, WHEREAS, the City Council of the City of Paris is desirous of filing a Texas Home Investment Partnership Program application for the Homebuyers Assistance Fund with the Texas Department of Housing and Community Affairs for funds to carry out the reduction of loan fees and down payments for this Home Buyers Assistance Program in the amount of$125,000.00, with $15,625.00 to be provided by the City of Paris in the form of local matching funds; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS: 1. That a Texas Home Investment Partnership Program application for the Home Buyer Assistance Fund be, and the same is hereby, authorized to be filed, on behalf of the City of Paris, with the Texas Department of Housing and Community Affairs. 2. That the City of Paris's application be placed in competition for funding under the 1999 Texas Home Investment Partnership Program Fund. 3. That the application be for $125,000.00 of grant funds to carry out the reduction of loan fees and down payments for this Home Buyers Assistance Program, and that the City of Paris commit $15,625.00 in cash as its local match. 4. That Michael E. Malone, City Manager, be, and he is hereby, appointed as the Authorized Official of said project and is authorized and directed to execute, on behalf of the City of Paris, the application for the Texas Home Investment Partnership Program Fund, under the terms and conditions and in the form shown in Exhibit A, attached hereto, and to act in all matters in connection with this application and the City of Paris's participation in the Texas Home Investment Partnership Program.