HomeMy WebLinkAboutResolutions - No. 2000-170RESOLUTION NO. 2000-170
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORZING
REALLOCATION OF 2000/2001 HOME FUNDS FROM THE
HOUSING REHABILITATION PROGRAM TO THE
DOWNTOWN PAYMENT ASSISTANCE PROGRAM
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WHEREAS, each year the City receives an allocation of HOME Funds from the
U.S. Department of Housing and Urban Development (HUD) for use in providing housing
assistance to a target population; and
WHEREAS, those funds are usually split between Habitat for Humanity and the
City of Lodi's Housing Assistance Programs, which consist of a Low -Interest Housing
Rehabilitation Loan Program for owner -occupied and rental property rehabilitation, and a
Low -Interest Down Payment Assistance Loan Program for first-time homebuyers; and
WHEREAS, the Down Payment Assistance Program has been the better of the
two programs; and
WHEREAS, for the 2000-01 Program year, the City has allocated $75,000.00
toward the Down Payment Assistance Program and $61,880.00 toward the Housing
Rehabilitation Program, with the remaining $80,000.00 of our HOME allocation going to
Habitat for Humanity; and
WHEREAS, the $75,000.00 allocation has been depleted and staff recommends
reallocating the remaining balance of $60,880.00 from the Housing Rehabilitation Program
to the Down Payment Assistance Program.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Lodi does hereby authorize the reallocation of $60,880.00 from the Housing Rehabilitation
Program to the Down Payment Assistance Program.
Dated: September 20, 2000
I hereby certify that Resolution No. 2000-170 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held September 20, 2000, by the following
vote:
AYES: COUNCIL MEMBERS — Hitchcock, Land, Nakanishi, Pennino and
Mayor Mann
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
SUSAN J. BLACKSTON
City Clerk
2000-170