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File #: 23-810HA    Version: 1 Name: DOWN PAYMENT ASSISTANCE LOAN PROGRAM - AUTHORIZATION APPROVAL FOR THE EXECUTIVE DIRECTOR TO EXECUTE LOAN AND PROGRAM-RELATED DOCUMENTS
Type: HA- Report Status: Agenda Ready
File created: 9/5/2023 In control: Housing Authority
On agenda: 9/25/2023 Final action:
Title: REPORT - DOWN PAYMENT ASSISTANCE LOAN PROGRAM - AUTHORIZATION FOR THE EXECUTIVE DIRECTOR TO EXECUTE LOAN AND PROGRAM-RELATED DOCUMENTS BACKGROUND: On February 15, 2022, the City Council appropriated $2 million of the PG&E settlement funds to establish a downpayment assistance program for Santa Rosa residents and delegated program development and administration to the Department of Housing and Community Services (HCS). Delegation of authority by the Housing Authority is needed for the Executive Director to execute loan and program-related documents including, but not limited to Promissory Notes, Owner Occupancy Agreements, Subordination Agreements, and other program-related documents as needed. RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Housing Authority, by resolution, authorize the Executive Director to execute loan and program-related documents for the Down Payment Assistance Loan Program.
Sponsors: Housing and Community Services
Indexes: Exempt Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment 1, 3. Resolution, 4. Presentation