09-C Homebuyer Assistance Grant App

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DRAFT RESOLUTION NO. attorney\reswork\current\Homebuyer Assistance Grant Res A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AN APPLICATION FOR FUNDING THROUGH THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2008 HOMEBUYER ASSISTANCE PROGRAM GRANT, HOME/AMERICAN DREAM DOWNPAYMENT INITIATIVE (ADDI) AWARD; DESIGNATING THE AMOUNT OF MATCHING FUNDS AND CASH RESERVES; AUTHORIZING THE EXECUTION OF ANY AND ALL DOCUMENTS NECESSARY FOR ACCEPTANCE AND IMPLEMENTATION OF SAID GRANT UPON NOTICE THEREOF; MAHING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. 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, specifically to provide homebuyer assistance for low and moderate income families who desire to purchase a home and live within the city limits and ETJ of Paris; and, WHEREAS, the City Council of the City of Paris is desirous of processing an application to the Texas Department of Housing and Community Affairs ("TDHCA") for a Homebuyer Assistance Program/American Dream Downpayment Initiative (HOME/ADDI) Program Grant in the amount of $200,000.00 to be provided by grant and $14,000.00 to be provided by the City in the form of property donations and in-kind services; and, WHEREAS, it is in the best interests of the City of Paris to apply for funding under the Texas Department of Housing and Community Affairs, HOME/American Dream Downpayment Initiative (ADDI) Program; and, WHEREAS, the City Council desires to authorize the Mayor, City Manager, Director of Community Development, and other appropriate City staff to accept and implement said grant (if same is received) without further action of City Council; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the filing of an application to the Texas Department of Housing and Community Affairs ("TDHCA") be, and the same is hereby, approved, for a Homebuyer Assistance Program/American Dream Downpayment Initiative Program (HOME/ADDI) Grant in the amount of $200,000.00, with $14,000.00 in funds to be provided by the City of Paris from non-federal resources, including waived fees and the value of city lots donated to the program, to support the efforts of the City to assist 20 low and moderate income families through the provision of downpayment and closing cost assistance. Section 3. That the City Council does hereby approve the HOME Investment Partnership Program, American Dream Downpayment Initiative, 2008 Program Design, as amended, for inclusion in the grant application to TDHCA for their approval and acceptance and to serve as the basis for the Program if said Program is funded by TDHCA. . . .....T.. .