HomeMy WebLinkAboutReso 2007-030
RESOLUTION NO. 2007-030
RESOLUTiON OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING EXECUTiON OF A
COOPERATIVE AGREEMENT BETWEEN THE CITY OF
CHULA VISTA AND THE COUNTY OF SAN DIEGO
REGARDING PARTiCIPATION IN THE SAN DIEGO
REGIONAL MORTGAGE CREDIT CERTiFICATE PROGRAM
WHEREAS, there is a continued need for affordable housing ownership opportunities
within the City of Chula Vista (City) and the County of San Diego (County) for qualified first
time homebuyers; 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 I, Chapter 35, Article 4 of the California Health and
Safety Code Sections 50197 et seq (Act) authorizes counties, cities, and redevelopment agencies
to create and participate in MCC programs; and
WHEREAS, the County, pursuant to the Act, has established the San Diego County
Regional Mortgage Credit Certificate Program (Program), and has determined to cooperate with
the City pursuant to the Act and in the exercise of its powers under the Act for the purposes of
the Program; and
WHEREAS, the City requests that Mortgage Credit Certificates be available to first-time
homebuyers within the corporate limits of the City when the City participates with the County in
receiving MCC allocation; and
WHEREAS, the County and the City wish to cooperate with one another pursuant to the
Act in the exercise of their powers under the Act for the purpose of the MCC program.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby authorize the execution of a Cooperative Agreement between the City of
Chula Vista and the County of San Diego regarding participation in the San Diego Regional
Mortgage Credit Certificate Program.
pre_A. ~~
Ann Hix
Acting Community Development Director
Approved as to form by
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Ann Moore
City Attorney
Resolution No. 2007-030
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 6th day of February 2007 by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Ramirez, Rindone, and Cox
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
None
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l' ~CC~.
Cheryl Cox, M~or'
ATTEST:
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Susan Bigelow, MMC, City Cl
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2007-030 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 6th day of February 2007.
Executed this 6th day of February 2007.
~~ ~l~4"1 ~ ~ ~
Susan Bigelow, MMC, City Cler