HomeMy WebLinkAboutReso 1998-19283 RESOLUTION NO. 19283
AGENCY RESOLUTION NO. 1611
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
AUTHORIZING THE PARTICIPATION BY THE CITY OF CHULA
VISTA WITH THE COUNTY OF SAN DIEGO IN THE SAN DIEGO
REGIONAL MORTGAGE CREDIT CERTIFICATE PROGRAM
WHEREAS, there is a continued need for affordable home ownership opportunities in
the City of Chula Vista (the "City") and the County of San Diego (the "County") for qualified
first-time home buyers; and
WHEREAS, the Tax Reform Act of 1984 established Mortgage Credit Certificates
("MCC") as a means of assisting qualified first-time home buyers with the acquisition of new
and existing single family housing; and
WHEREAS, Division 31, Part 1, Chapter 35, Article 4 of the California Health and
Safety Code Sections 50197 et seq (the "Act") authorizes counties, cities, and redevelopment
agencies to create and participate in MCC programs; and
WHEREAS, the County of San Diego has heretofore determined to engage in an MCC
program pursuant to the Act in order to assist individual home purchasers in the City and the
County to afford both new and existing homes within the statutory limits as provided for in
said Act; and
WHEREAS, the City requests that Mortgage Credit Certificates be available to eligible
first-time home buyers within the corporate limits of the City when the City participates with
the County in receiving an MCC allocation; and
WHEREAS, the County and City wish to cooperate with one another pursuant to the
Act in the exercise of their powers under the Act for the purposes of an MCC program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL AND REDEVELOPMENT
AGENCY OF THE CITY OF CHULA VISTA
Section 1. The City hereby adopts the San Diego County Regional Mortgage Credit
Certificate Program (the "Program") for the purpose of increasing home ownership
opportunities for first-time home buyers and consents to the operation of said Program within
the geographical boundaries of the City.
Section 2. The City with the advice and consent of the City Attorney, is authorized
to enter into agreements with the County, execute such other documents, or take such other
actions as may be necessary or appropriate to carry out the purposes and intent of the
Program or to cooperate in the implelnentation of the Prograin.
Section 3. This resolution shall take effect from and after its adoption.
Resolution 19283
Page 2
NOW, THEREFORE, BE IT RESOLVED, the City Council and Redevelopment Agency of
the City of Chula Vista do hereby find, order, determine, and resolve to authorize participation
by the City of Chula Vista with the County of San Diego in the San Diego Regional Mortgage
Credit Certificate Program.
Presented by Approved as to form by
Chris Salomone Jo M. K~heny '~y'
Community Development Director ey and Agenc,{At
Resolution 19283
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 24th day of November, 1998, by the following vote:
AYES: Councilmembers: Moot, Rindone, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: Padilia
ABSTAIN: Councilmembers: None
ATTEST:
~Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY QF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of Chula Vista, California, do hereby certify that the
foregoing Resolution No. 19278 was duly passed, approved, and adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 24th day of November, 1998.
Executed this 24th day of November, 1998.
~uthelet, City Clerk