HomeMy WebLinkAboutAgenda Report - August 3, 1988 (51)FINANCIAL 1q, SERVICES
Public Finance Division `
August 1, 1ioS
•rec' "Zoic:
P.O. Bo.--_ 3006
Lodi CA, cl 21=1_-_910
SUBJECT: r-'.ORTGi-GE CREDIT CE' TIFICATIONT PR0C4n ,M
111=_ letter i5 to make you aware of an Opportunity for your
City t0 ra;Ce Horipo-v:ne_Ship a realty for average income nome
buyers. if y ,urCit,,' 'Council acts, VC l can ensure that
fam. lief: realize th<: unique. iC+il Dredlci Of ?IC1ike0iine?:u'1t 1 a 15
at i.hc same ._'e benefit your local Bt:
iiders, Realtors.,
and
Lend L ._ .
PIOR' UeAG�, CREDITIC'Z_.r;TES
.Ln adop-eu c_::Fil??!ilETi1LS to :'ax a:Ye_mgi:_
csi7iL:i:'1 j i �Ijlll?' iC!15 vzliich, among c%. irn i -
n:e L' i,n. �, -i1%:C t"' �. icy of tax -_rredir_ 'r:nO,,-n as the Mortgad= Cr6diL. _tl'ti.`:l.Catc 11a</-
Rather --,an issuing Tax -Exempt Revenue. Bonds _O assist
: oderai:?-1nCOT C Hone Buyers, Cities ::anc. Counties are now
FBr!"ti Ll. l %C issue micCS ..r eligible ::-\;-2raiXe inc0me H.uitjcteOl .3 iJt
the nurcnase of t)lt_Y.' =1rst home. FUS one typical rci t v in
I' G_'h _n C 1i f cfr.iu, ''1OL1se oles earning Lip - C30, 000 -unnitalIy
ca- __eive Ta;. Credit :7i up 'i�i: $:,000 veach yea , iI 'hey
I,oz .a .3G an e'�i c.i na )iti y CCr1:-,tru :tc;6 Vhoine sellinc, for under
;' 11i . �CCr
,i
. Issuan: o 7_- .-,i• .ICC c, 1:1 avE:r: .,_ household ef:ti,t* _ %hen '::C a
d1' -for -dc' lar ax EC?it up tC $_2., 0 )O on `_.h lr F'edera 7.
Incor::e 'ra?:2:i. Ln ilrrl j> F_-atlt7 aS iSLS tHle"::: iii :10E tl1C{ the
10a;t-Uiiili2fl!` i:lU:l 1"E_cttlire?)encs of privatE. Zanders; ac r1e11 as
ravIng _mora i):come avail n I e to pa,, their ncnthly nortg.,
'.iAi `%Z E::T OF _. a MCC=,RCGRRMr
MC.I_ ti_l�C )1 are cil"1"2nLZy' in aper �ic:r. _;nail bu 3
n a ,_ _
ilii irJFr cr 1=""✓rn i a C t '.its aild ::ounT1e�:. !'rt'' 3 7t7r'1:: iE
.
.;rw i y-�? ?nA 1L FC.._, nrl `c�-.;•• c. ��.' 'i ,� r
Lie :five c' _ x c t,i.� IV. .
Y C�PSii'ZIeCr t0 - iiAG 7nitiC nl: F' 'i11:: :. :1 Ass -
C.. average
r income hc:)sehc'_c� r_,u irar, rhei; _sr. hCi 2.
1041 41st Avenue, Suite F
Santa Cruz, California 95062
408 / 462-2646
s
1041 41st Avenue, Suite F
Santa Cruz, California 95062
408 / 462-2646
�,n I"C OYOgYaI} YequirCsaIi .ni.tlal aC tiOn by 'I'iul}I" Cltj C.^,L iii l�. to
star.. t.`,:_ prc'.gr ,.. :'ex+.,_.Ur al FS LI.! lc'@Y' , a,''.:
.i en:i?rs c:L-c. ,'cadr': =.:fare ?Y L!1e %_i `:'alla`�i_iry or I•"aCC .Z}:d
y..,sLIanC Of irdivI_ULIc1.I. it Co 1nC :Jr r`: E,.. j. :t -
i_iiiC( and Financing !_as'tLV, arm I.,s;L'.E?CI t0
'f Lia i _ilr I hC.'! cpL 1""C.licaS2'_"S as auti7i:r zeC 7, b y y 0 u u--1Ls IC:t10n
CFM FINAhICIAL SERVICES, PUBLIC FIIvAIICE [)T 'ISIOI'I
I;ost Cities, rather than hiring expe.nsiva permanent staff,
retain a private firm, such as ours, CFI•I Financial Services, to
administer the program. UnliI-e 1 -}est housing programs, an MCC
PR GRA. can be implemented at minimal COST t0 your ci--y. V'le
y0Ll1- Cit,,, Manager, Planning Director,1 or, City Attorney, vour
Council ;.:iii - With the strJi1C1 SIipL OYt Gf V J Ir �Ocal Builders,
Realtors, Lenders, and, most of all, Prospective Homeowners
- elect to participate.
F:.no-viing that you will undoubtedly have several questions, be
assured that _e will return all "Inquiry Calls" promptly and
:•rithout obligation.
Please contact LIS ar. (4!G8;4G2-26-6:
S i.zcerely,
David Laughlin
Direcr_,Dr, Public Finance Division
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