HomeMy WebLinkAboutReso 2001-210 RESOLUTION NO. 2001-210
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHIfLA VISTA APPROVING PARTICIPATION IN THE
LEASE-PURCHASE PROGRAM
WHEREAS, on March 1, 2001, at the San Diego Area Housing & Finance Agency
(SDHFA) Board Meeting, the Board approved a Lease-Purchase Program by authorizing the
execution and delivery of variable rate SDHFA lease revenue bonds to be used as financing for
the Lease-Purchase Program; and
WHEREAS, the County and many other San Diego area cities have formed the SDHFA
to implement the Lease-Purchase Program; and
WHEREAS, the City of Chula Vista endeavors to implement and participate in programs
that increase affordable homeownership; and
WHEREAS, the Lease-Purchase Program provides homeownership opportunities for
homebuyers earning at or below 140% of Area Median Income; and
WHEREAS, the Lease-Purchase Program allows homebuyers to purchase a home with
less out-of-pocket costs than the normal purchase transaction; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby approve participation in the San Diego Housing and Finance Agency Lease-
Purchase Program.
Presented by Approved as to form by
Community Development Director
Resolution 2001-210
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 10th day of July, 2001, by the following vote:
AYES: Councilmembers: Davis, Rindone, Salas and Horton
NAYS: C ouncilmembers: None
ABSENT: Councilmembers: Padilia
Shirley Hor~n, Mayor
ATTEST:
Susan Bigelow, City ClerE
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, Califomia, do hereby certify that the foregoing
Resolution No. 2001-210 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 10th day of July, 2001.
Executed this 10th day of July, 2001.
Susan Bigelow, City Cler~