2000/05/23 City Council Resolution (15)RESOLUTION NO. 2000-115
A RESOLUTION OFTHE CITY COUNCIL
OF THE CITY OF ROHNERT PARK
APPROVING THE PROPOSED
EXPENDITURE OF LOW AND MODERATE INCOME HOUSING FUNDS
OUTSIDE THE REDEVELOPMENT PROJECT AREA FOR THE
FIRST -TIME HOMEBUYER DOWN PAYMENT ASSISTANCE PROGRAM
WHEREAS, given the high cost of ownership of housing in relation to wages and salaries in the
Rohnert Park area; substantial numbers of low to moderate income households, many of whom are residents of
the Rohnert Park Redevelopment Project Area, find it difficult to accumulate sufficient funds for the necessary
down payment; and
WHEREAS, the Community Development Commission of the City of Rohnert Park has successfully
conducted a. First -Time Homebuyer Down Payment Assistance Program and proposes to utilize additional low
and moderate income housing funds inside and outside the Redevelopment Project Area; and
WHEREAS, the Community Development Commission proposes to obligate five hundred thousand
dollars ($500,000) from low to moderate income housing funds for the First -Time Homebuyer Down Payment
Assistance Program and has entered into agreements with First Security Loans, Sutter West Mortgage Bankers
and Central Pacific Mortgage, d.b.a. Petaluma Home Loans to conduct the Program;
WHEREAS, the success of the Program depends upon having a supply of available housing sufficient
to provide a meaningful choice of housing for low and moderate income households and such a supply does
not exist in the Redevelopment Project Area alone; and
WHEREAS, there exist housing units, in particular condominium and PUD units, outside the
Redevelopment Project Area but inside the City limits that may be available for sale at prices affordable to low
and moderate income households; and
WHEREAS, Section 33334.2(g) of the California Community Development Law states that the
Community Development Commission may use tax increment revenues to improve and expand housing
affordable to low -to- moderate income households outside the redevelopment project area if the Community
Development Commission and the City Council of the City of Rohnert Park approve resolutions finding that
the use will be of benefit to the redevelopment project.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Rohnert Park that the
utilization of First -Time Homebuyer Down Payment Assistance Program funds outside the Rohnert Park
Redevelopment Project Area will benefit the Project Area because:
1. There exists a limited supply of housing affordable to low and moderate income residents in the
Redevelopment Project Area;
2. There exists housing units available at prices affordable to low and moderate income residents outside the
Redevelopment Project Area but within the City limits;
3. Utilization of Program funds outside the Redevelopment Project Area will help provide a meaningful
choice of housing for low and moderate income households; and
4. Utilization of .Program funds outside the Redevelopment Project Area will expand the supply of housing
available to low and moderate income residents making their first housing purchase.
DULY AND REGULARLY ADOPTED by the City Council of the City of
23rd day of May , 2000.
ATTEST:
APPROVED:
D ty 1 rk I Mayor
F16reA AYE Mackenzie AYE peilly AYE Spiro ABSENT/idak- Martinez AYE r
Ayes: . Noes: io) _Absent: (1) Abstain:, (0 `�"