CC Resolution 10625
RESOLUTION NO. 10625
AUTHORIZATION FOR THE CAMPBELL REDEVELOPMENT
AGENCY TO APPLY FOR, ACCEPT, AND ADMIINISTER THE
BUILDING GROWTH IN NEIGHBORHOODS (BEGIN)
PROGRAM IN THE NAME OF AND ON BEHALF OF THE CITY
OF CAMPBELL
WHEREAS, the City of Campbell, a political subdivision of the State of California
wishes to apply for and receive an allocation of funds through the BEGIN Program; and
WHEREAS, the California State Department of Housing & Community
Development (hereinafter referred to as "HCD") has issued a Notice of Funding
Availability ("NOFA") for the BEGIN program established by Chapter 14.5 , Sections
50860 through 50866 of Part 2 of Division 31 of the Health and Safety Code (the
"statute"). Pursuant to the statute, HCD is authorized to approve funding allocations
utilizing monies made available by the State Legislature to the BEGIN program, subject
to the terms and conditions of the statute and the BEGIN program Guidelines adopted
as amended by HCD on December 5, 2003; and
WHEREAS, the City of Campbell, by its agent, the Campbell Redevelopment
Agency, ("Agency") wishes to submit an application to obtain from HCD an allocation of
BEGIN funds in the amount of $1 ,200,000.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CAMPBELL,
1. On behalf of and in the name of the City of Campbell, the Agency Executive
Director, or his designee, is hereby authorized and directed to submit an application to
HCD for the BEGIN program in response to the NOFA, which will request a funding
allocation for the following activities:
Forty attached and detached single family dwellings for first time
homebuyers who are at 50% to 80% of the Santa Clara County
median income; and first time homebuyers who are at 100% to 120%
of the Santa Clara County median. To make the units affordable to
the first time homebuyer, $ 30,000 BEGIN loan is necessary in the
layers of financing. This project is located at 511 & 555 W. Campbell
Avenue.
2. The Executive Director is authorized to receive funding from HCD in the name
of the City and to administer the BEGIN program on behalf of the City of Campbell.
3. The Executive Director, or his designee, is authorized to execute on half of
the City, HCD's Standard Agreement and all instruments necessary or required by HCD
for participation in the BEGIN program as currently established in the applicable law and
regulations.
4. The BEGIN Program Guidelines, as established by HCD on December 11,
2003, are hereby adopted.
5. The Executive Director shall develop BEGIN Mortgage Assistance
Underwriting Guidelines for use in administering the BEGIN program.
6. The City hereby authorizes amendment of the Agency's annual Budget as it
receives awards from HCD of BEGIN grant program funds.
PASSED AND ADOPTED, this 4th day of April 2006 by the following roll call
vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
City Councilmembers:
City Councilmembers:
City Councilmembers:
City Councilmembers:
Kennedy, Hernandez, Furtado, Burr, Watson
None
None
None
rJ~~
~anette Watson, Mayor
ATTEST:
~
Anne Bybee, City Clerk