2003-054-RES AUTHORIZE HOUSING INVESTMENT PARTNERSHIP PROGRAM'

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RESOLUTION NO. 2003-054 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, AUTHORIZING THE SUBMISSION OF A HOUSING INVESTMENT PARTNERSHIP PROGRAM APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR THE HOMEBUYER ASSISTANCE PROGRAM FUND; AUTHORIZING THE MAYOR, CITY MANAGER, DIRECTOR OF COMMUNITY DEVELOPMENT, AND FINANCE DIRECTOR TO EXECUTE ALL NECESSARY DOCUMENTS AS APPROPRIATE AND TO ACT AS THE CITY'S AUTHORIZED REPRESENTATIVES IN ALL MATTERS PERTAINING TO THE CITY'S PARTICIPATION IN THE HOMEBUYER ASSIST ANCE PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING 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, principally for persons of low/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 2003 Texas Community Development 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, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution be and they are hereby approved. Section 2. That a Housing Investment Partnership Program application for the Homebuyer Assistance Program is hereby authorized to be filed on behalf of the City of Paris with the Texas Department of Housing and Community Affairs. Section 3. That the City's application be placed in competition for funding under the Homebuyer Assistance Program Fund. Section 4. That the application be for $312,000.00 of grant funds to carry out this down payment, closing costs, and gap financing program.