HomeMy WebLinkAboutReso 1982-10789
RESOLUTION NO. 10789
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING DEFERRED LOANS FOR VERY
LOW-INCOME FAMILIES FOR PROPERTY REHABILITATION
UNDER THE CITY'S COMMUNITY HOUSING IMPROVEMENT
PROGRAM (CHIP)
The City Council of the Ci ty of Chul a Vi sta does hereby resol ve as
foll ows:
WHEREAS, the City of Chula Vista has stated goals in the City's
Housing Assistance Plan for assisting very low-income family homeowners; and,
WHEREAS, the City pursues said goals for assisting very low-income
family homeowners by providing reduced interest rate property rehabilitation
loans through the CHIP program; and,
WHEREAS, the CHIP program is experiencing a low volume of loans to
very low-income family homeowners due to the inability of very low-income
families to incur monthly debt service, even at reduced interest rates; and,
WHEREAS, the creation of a CHIP deferred loan category for very
low-income family homeowners should significantly increase CHIP loan volume
to very low-income family homeowners; and
WHEREAS, the City desires to realize the housing goals it has stated.
NOW, THEREFORE, BE IT RESOLVED by the Ci ty Council of the Ci ty of
Chula Vista that Community Housing Improvement Program (CHIP) deferred loans
for very low-income family homeowners be authorized, with said loans having
eligibility restricted to families with incomes at or below 50% of area
median and with biannual recertification for continued eligibility.
Approved as to form by
4"~
,
George D. Llndberg
City Attorney
WPC 0023H
CHULA VISTA, CALIFORNIA, this
19% 2 ,by the following vote, to_it:
Cox, Gillow, Campbell, McCandliss, Scott
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
9th day of March
AYES:
Councilmen
NAYES;
ABSTAIN:
ABSENT;
Councilmen
None
Councilmen
Councilmen
None
None
ATTE;!1Mk;, \J,~gZdf
. / City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) s s.
CITY OF CHULA VISTA )
I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 10789
,and that the same has not been amended or repealed.
DATED
~-/nrt
City Clerk
( seal)
CC-660