2001-062-RES AUTHORIZING SUBMISSION OF TX HOME INVESTMENT PARTNERSHIP PROGRAM APPLICATON TO TX DEPT OF HOUSING AND COMMUNITY AFFAIRS
RESOLUTION NO. 2001-062
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
PARIS, TEXAS, AUTHORIZING THE SUBMISSION OF A TEXAS HOME
INVESTMENT PARTNERSHIP PROGRAM APPLICATION TO THE
TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR
THE OWNER OCCUPIED ASSISTANCE FUND; AUTHORIZING THE
CITY MANAGER TO ACT AS THE CITY'S CHIEF EXECUTIVE OFFICER
AND AUTHORIZED REPRESENTATIVE IN ALL MATTERS PERTAINING
TO THE CITY'S P ARTICIP A TION IN THE TEXAS HOME INVESTMENT
PARTNERSHIP PROGRAM; MAKING OTHER FINDINGS AND
PROVISIONS RELATED TO THE SUBJECT; REPEALING ALL
ORDINANCES ORP ARTS OF ORDINANCES IN CONFLICT HEREWITH;
AND PROVIDING FOR 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 ofthe City of Paris to apply for funding
under the 2001 Texas Home Investment Partnership Program; 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 ordinance are hereby in all things
approved.
Section 2. That a Texas Home Investment Partnership Program application for the
Homebuyer Assistance Program is hereby authorized to be filed on behalf ofthe City 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 $195,000.00 of grant funds to carry out this down
payment, closing costs, and gap finance program.
Section 5. That the City Council directs and designates the City Manager as the City's Chief
Executive Officer and Authorized Representative to act in all matters in connection with this
application and the City's participation in the Home Investment Partnership Program.
Section 6. That it further be stated that the City of Paris is providing $25,000.00 in local
match to pay for expenses for loan processing and program management in this homebuyer program.
Section 7. That it further be stated that the City of Paris is accepting from local Consumer
Credit Counseling Services pre-purchase counseling for all twenty-five (25) applicants. This service
is estimated to be $125.00 per applicant for a total in-kind match of$3,125.00.
Section 8. That the City agrees to cash flow up to $52,500.00 in order for the program to be
successful.
Section 9. That this resolution shall be effective from and after its date of passage.
PASSED AND APPROVED this 14th day of May, 2001.
~Z:l~
Michael J. Pfie er, yor
ATTEST:
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Mattie Cunningham, City Clerk
APPROVED AS TO FORM: