CC Resolution 11903RESOLUTION NO. 11903
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CAMPBELL APPROVING PARTICIPATION INTHE
MORTGAGE CREDITCERTIFICATEPROGRAM
THROUGH THE COUNTY OF SANTA CLARA
WHEREAS, the Tax Reform Act of 1986 established the Mortgage Credit
Certificate Program ("MCC Program") as a means of assisting qualified individuals
with the acquisition of new and existing single family housing; and
WHEREAS, the County of Santa Clara administers the County-wide
Mortgage Credit Certificate Program as a Federal Income Tax Credit program; and
WHEREAS, the City of Campbell seeks to participate in the Mortgage Credit
Certificate Program for 2015, 2016, and 2017 to assist persons and households of
low to moderate income to purchase new and existing single-family residences in
the City of Campbell.
NOW, THEREFORE, the City Council of the City of Campbell hereby
resolves as follows:
SECTION 1. The City Council hereby establishes the above recitations
are true and correct and incorporated herein by reference.
SECTION 2. The City Council states its intention to participate with the
County of Santa Clara in the Mortgage Credit Certificate Program for 2015, 2016,
and 2017.
SECTION 3. The City Council authorizes the City Manager to sign the
Cooperative Agreement with the County of Santa Clara on behalf of the City.
PASSED AND ADOPTED this 3rd day of November 2015 by the following
roll call vote:
AYES: Councilmembers: Gibbons, Resnikoff, Kotowski, Baker, Cristina
NOES: Councilmembers: None
ABSENT: Councilmembers: None
APPROVED:
ATTEST:
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Wend ood, City Clerk