HomeMy WebLinkAboutRDA Reso 1998-1611 AGENCY RESOLUTION NO. 1611
(COUNCIL RESOLUTION NO. 19283)
JOINT RESOLUTION OF THE CITY COUNCIL AN[ THE REDEVELOPMENT
AGENCY OF THE CITY OF CHULA VISTA AUTHORIZlNI i THE PARTICIPATION BY
THE CiTY OF CHULA VISTA WITH THE COUNTY OF SAN DIEGO IN THE SAN
DIEGO REGIONAL MORTGAGE CREDIT CERTIFICATI PROGRAM
WHEREAS, there is a continued need for affordable I ~me ownership opportunities in the City of
Chula Vista (the "City") and the County of San Diego (the "County") fo ualified first-time home buyers; and
WHEREAS, the Tax Reform Act of 1984 established ortgage Credit Certificates ("MCC") as a
means of assisting qualified first-time home buyers with the acquisition o new and existing single family housing; and
WHEREAS, Division 31, Part 1, Chapter 35, Article of the California Health and Safety Code
Sections 50197 et seq (the "Act") authorizes counties, cities, and rede~ ~lopment aoencies to create and participate
in MCC programs; and
WHEREAS, the County of San Diego has heretofore ]etermined to engage in an MCC program
pursuant to the Act in order to assist individual home purchasers in the I;ity and the County to afford both new and
existing homes within the statutory limits as provided for in said Act; ar
WHEREAS, the City requests that Mortgage Credit C tificates be available to eligible first-time
home buyers within the corporate limits of the City when the City partic ~ates with the County in receiving an MCC
allocation; and
WHEREAS, the County and City wish to cooperate w h one another pursuant to the Act in the
exercise of their powers under the Act for the purposes of an MCC pro~ ram.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY CO JNCIL AND REDEVELOPMENT AGENCY OF
THE CITY OF CRULA VISTA
Section 1. The City hereby adopts the San Diego C~ unty Regional Mortgage Credit Certificate
Program (the "Program") for the purpose of increasing home ownership c pportunities for first-time home buyers and
consents to the operation of said Program within the geographical boun lades of the City.
Section 2. The City with the advice and consent of th ,, City Attorney, is authorized to enter into
agreements with the County, execute such other documents, or take s ~ch other actions as may be necessary or
appropriate to carry out the purposes and intent of the Program or to coc ,'rate in the implementation of the Program.
Section 3. This resolution shall take effect from and fter its adoption.
NOW, THEREFORE, BE IT RESOLVED, the City Counc and Redevelopment Agency of the City of
Chula Vista do hereby find, order, determine, and resolve to authorize part cipation by the City of Chula Vista with the
County of San Diego in the San Diego Regional Mortgage Credit Certific ~te Program
Presented by Approved ~s to form by
Chris alomone K, ,heny
Director of Community Development
torney ~
Resolution No. 1611
Page 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 24th day of November, 1998 by the following vote:
AYES: Members Rindone, Moot, Salas and Chair/Mayor Horton
NOES: None
ABSENT: Padilla
ABSTENTIONS: None
Shirley Hort~n
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 the City of Chula Vista,
California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No.
1611 and that the same has not been amended or repealed.
Dated: November25, 1998 ~L ~
Chris Salomone
Executive Secretary