1992/02/11 Community Development Agency Minutes COMMUNITY DEVELOPMENT AGENCY
OF
THE CITY OF ROHNERT PARK MINUTES
February 11, 1992
The umbers of the Community Development Agency of the
City of Rohnert Park met this date iiiiu diately after the
City Council meeting at approximately 10:12 p.m. in the
City Offices, 6750 Commerce Boulevard, Rohnert Park, with
Chairperson Spiro presiding.
Call to Order Chairperson Spiro called the meeting of the Community
Development Agency of the City of Rohnert Park to
order at approximately 10:12 p.m.
Roll Call Present: (5) Agency Members Eck, Hollingsworth, Hopkins,
Reilly, and Chairperson Spiro
Absent: (0) None
Staff present for all or part of the meeting: Executive
Director/City Manager Netter, City Attorney Flitner, and
Finance Director Harrow.
Approval of Minutes Upon motion by Agency Member Hollingsworth, seconded by
Agency Member Hopkins, and unanimously approved, the
minutes of January 28, 1992 were approved as submitted.
Approval of Bills Upon motion by Agency Member Hollingsworth, seconded
by Agency Member Hopkins, and unanimously approved, the
bills presented per attached list in the amount of
$267,485.55 were approved.
Acknowledging The Executive Director/Secretary's report on the posting
Exe.Dir./Sec.Report of the agenda was acknowledged.
Uhscheduled Public Chairperson Spiro stated that in compliance with State
Appearances Law, (The Brown Act) , anyone in the audience who wished to
make a comment may do so at this time. No one responded.
Mortgage Credit Executive Director Netter referenced copies provided to
Certificate Program Council of staff report regarding recommendation of
Interim Housing Task Force to create a Mortgage Credit
Certificate ( MCC ) program and proposal to prepare
application for same. Mr. Netter introduced Daniel I.
Fred of Fred Consulting Associates who gave a presentation
on the MCC program and shared contents therein of attach-
ments to the referenced staff report. He responded to
various Agency questions and confirmed the MCC program
helps first time home buyers obtain home financing by
allowing them to take a credit for mortgage interest
deductions on federal income taxes. Mr. Fred said he has
personally put together ten of these applications, all of
COMMUNITY DEVELOPMENT AGENCY/CITY OF ROHNERT PARK MINUTES (2) 2/11/92
which have been approved from one-third to 100% of the
funding requests. He said any jurisdiction that applies
crust be an agency that can issue tax exempt bonds. The
draft brochure is a kind of lay overview of the program to
inform potential home buyers of the program. In team. of
setting up the program, it was a hands-on proposal from
beginning to end from putting together the application,
training staff, data base, etc. The program can be used
in conjunction with other financing such as second
mortgage programs.
Executive Director Netter said the first issue to resolve
regarding this matter would be the provision of staff
time. He reviewed staff participation with rehab loans,
mobile homes , as well as agreement with Northbay
Ecumenical Housing to conduct a "second mortgage program"
at the Windsong Condominiums and said, if staffing cannot
be provided for the NEC program, then the decision should
not be made to go into this program. Mr. Netter said the
first phase of the proposal would be approval of
approximately $4,000 for application phases with remaining
balance of approximately $3 , 500 to be paid if the
application and funding is approved by the State. The
second phase would involve implementation of the program.
A motion was made by Agency Member Eck, seconded by Agency
Member Hopkins, and unanirrvusly approved, to proceed with
the Nbrtgage Credit Certificate Program by contracting
with Fred Consulting Associates for the application phase
for an amount of $4,000 with the balance of $3,500 to be
paid when the application and funding is approved by the
State. This approval is conditioned upon staff working
out a program for administering the MCC program with
Sonoma County Community Development Commission or Northbay
Ecumenical Housing.
Uhscheduled Public Chairperson Spiro asked if anyone in the audience wished
Appearances to make an appearance at this time. No one responded.
Adjournment There being no further business, Chairperson Spiro
adjourned the meeting at approximately 10:25 p.m.
De Se e ary Chairperson