HomeMy WebLinkAboutRDA Reso 1998-1571 RESOLUTION NO. 1571
RESOLUTION OFTHE REDEVELOPMENT GENCY OF THE CITY
OF CHULA VISTA APPROVING THE IMF LEMENTATION OF A
REISSUED MORTGAGE CREDIT CE RTIFICATE (RMCC)
PROGRAM; WAIVING THE CONSULTANT ,~ ELECTION PROCESS
AUTHORIZING STAFF TO NEGOTIATE A ~ AGREEMENT WITH
AFFORDABLE HOUSING APPLICATIONS, INC. TO ADMINISTER
THE RMCC PROGRAM; AND APPROPRIAT NG $2,000 FROM THE
MORTGAGE CREDIT CERTIFICATE REVEiNUE ACCOUNT FOR
START-UP COSTS FOR THE RMCC PRO(~RAM
WHEREAS, on November 18, 1997 a joirt resolution of the City Council and
Redevelopment Agency authorized the Community Development Department to submit an
application to the California Debt Limit Allocation Committee (CDLAC) for an allocation of Mortgage
Revenue Bonds for conversion into Mortgage Credit Certific ~tes and assigned the MCC allocation
to the Redevelopment Agency to administer; and
WHEREAS, the MCC program was authoriz~ d by Congress in the Tax Reform Act
of 1984, as an alternative to mortgage revenue bond-backed financing as a tool for providing home
ownership assistance to lower income households; and
WHEREAS, since the inception of the MCC ~rogram in 1991, the City has received
$30,844,333 in Mortgage Revenue Bonds, which converte( into MCCs equals approximately 372
certificates which have been used to assist first-time home buyers in the City of Chula Vista; and
WHEREAS, staff is requesting waiving the ;onsultant selection process to select
Affordable Housing Applications, Inc. to implement and adr)inister the Reissued Mortgage Credit
Certificate program for the City of Chula Vista. Section 2.56. )70 of the Chula Vista Municipal Code
allows the city to waive the normal consultant selection pro( ess if it is impossible or impractical to
bid through the competitive process. In this case, it is impr~ctical to pursue the normal consultant
selection process since AHA is uniquely qualified with derisive knowledge and expertise in
implementing and administering a RMCC program.
NOW, THEREFORE, BE IT RESOLVED th, Redevelopment Agency of the City of
Chula Vista does hereby find, order, determine, and resol~'e to 1) approve implementation of a
RMCC program for the City of Chula Vista; 2) waive the con ~ultant selection process in light of the
recitals set forth above, authorizing staff to negotiate an agreement with Affordable Housing
Applications, Inc. to implement and administer the RMCC pr(~gram for the City of Chula Vista, which
such agreement will be brought back to the Redevelopment Agency for final approval; and 3)
appropriate $2,000 from the Mortgage Credit CertificateI revenue account for start-up costs
associated with the RMCC program. /
/
BE IT FURTHER RESOLVED that the Rede~,elopment Agency authorize staff and
the City Attorney's office to review and approve as to f(~rm all RMCC documents which are
substantially similar to the County of Orange RMCC program. Final forms will be developed by
AHA, reviewed and approved as to form by staff and the Cit~ Attorney's Office to be used for Chula
Vista's RMCC program.
/
Chris Salomone ,~hn"~ ..~. !~he~ "'~(~ ~
Director of Community Development ~genc¥ or
Resolution 1571
PCge 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 3RD day of March, 1998 by the following vote:
AYES: Chair/Mayor Horton, Members Padilla, Rindone, Salas
NOES: None
A~SENT: Moot
A8STENTIONS: None
Shirley Ho~/on
Chairman
ATTEST: ¢/~' ~_,
Chris Salomone
Executive Secretary
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss:
CITY OF CHULA VISTA )
I, Chris Salomone, Executive Secretary to the Redevelopment Agency of-th~ City of Chula Vista,
California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution
No. 1571 and that the same has not been amended or repealed.
Dated: Maroh 4,1998
Chris Salomone
Executive Secretary