2010-045 RES APPROVING APPLICATION FOR FUNDING THROUGH TX DEPT OF HOUSING & COMMUNITY AFFAIRS FOR 2009 HOMEBUYER ASSISTANCE PROGRAM GRANTRESOLUTION 2010-045
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS,
APPROVING AN APPLICATION FOR FU111DI1VG THROUGH THE TEXAS
DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2009
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; AUTHORIZING THE
EXECUTION OF ANY AND ALL DOCUMENTS NECESSARY FOR
ACCEPTANCE AND IMPLEMENTATION OF SAID GRANT UPON NOTICE
THEREOF; MAKING OTHER FINDINGS A1VD PROVISIONS RELATED TO
THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Paris (the "City") is desirous of processing an application to
the Texas Department of Housing and Community Affairs ("TDHCA") for a grant in the
amount of $300,000 for program expenses and $12,000 for administrative expenses to
provide homebuyer assistance for very low and moderate income families who desire to
purchase a home and live within the city limits and ETJ of Paris; 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 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 Texas Department of Housing and Community Affairs,
HOME/American Dream Downpayment Initiative Program to support the efforts of the City
to assist 15 low and moderate income families through the provision of downpayment and
closing cost assistance.
Section 3. That the City Manager of the Ciry of Paris is authorized for, on behalf of,
and in the name of the City to apply, negotiate and procure grants and loans from the Texas
Department of Housing and Community Affairs.
Section 4. That the City Manager be, and he hereby is, authorized and directed to
execute and deliver any and all instruments necessary to effectuate such grants and loans.
Section 5. That the City of Paris does hereby agree to provide a total of $18,000 in
funds from non-federal resources including waived fees, cash, the value of city lots donated
to the program to further affordable housing and other eligible match activities as match
for the grant being applied for.
Section 6. That the City of Paris does hereby agree to specify and utilize funds from
the City's accounts or through a bridge loan from a local bank in the amount of $80,000 to
provide a Cash Reserve designated for the proposed TDHCA award. These funds may be
used to pay program costs before receiving reimbursements from the State of Texas
HOME/ADDI Program.
Section 7. That should the amount of the grant award from TDHCA be for less than
$300,000, that the Cash Reserve and Match fund amounts designated for the proposed
TDHCA award be reduced proportionate to the amount of the TDHCA award.
Section B. That this resolution shall be effective immediately upon passage.
DULY PASSED AND APPROVED this 22nd day of March 2010.
ATTEST:
ice Ellis, City Clerk
APPROVED AS TO FORM:
W. Kent McIlya , ' Attorney
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esse Ja s Freelen, Mayor