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HomeMy WebLinkAboutRDA RES 508RESOLUTION NO. 508 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY WHEREIN THE AGENCY BOARD HEREBY AUTHORIZES THE SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE BEGIN PROGRAM; THE EXECUTION OF A STANDARD AGREEMENT IF SELECTED FOR SUCH FUNDING AND ANY AMENDMENTS THERETO; AND ANY RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN THE BEGIN PROGRAM. THE GOVERNING BOARD OF: The Palm Desert Redevelopment Agency WHEREAS: A. Palm Desert Redevelopment Agency , corporate and politic, wishes to apply for and receive an allocation of funds through the BEGIN Program; and B. The California Department of Housing and Community Development (hereinafter referred to as "HCD") has issued a Notice of Funding Availability ("NOFA") for the BEGIN program established by Chapter 14.5, Sections 50860 through 50866 of Part 2 of Division 31 of the Health and Safety Code (the "statute"). Pursuant to the statute, HCD is authorized to approve funding allocations utilizing monies made available by the State Legislature to the BEGIN program, subject to the terms and conditions of the statute and the BEGIN Program Guidelines adopted as amended by HCD on 03/04/05; and C. The Palm Desert Redevelopment Agency wishes to submit an application to obtain from HCD an allocation of BEGIN funds in the amount of $2,790,000.00 IT IS NOW THEREFORE RESOLVED THAT: 1. The Palm Desert Redevelopment Agency shall submit to HCD an application to participate in the BEGIN Program in response to the NOFA issued on March 17, 2005, which will request a funding allocation for the following activities: Down Payment Assistance for first time homebuyers at a 20 acre development in the City of Palm Desert west of Cook Street that will consist of 93 single-family residences available to persons and families of low to moderate income. All grant G \RDA\PATTY LEON\WPDOCS\JMM\STAFF REPORT\RESOLUTIONS\BEGIN PROGRAMDOC Resolution No. 508 funding will be used for this purpose in an amount not to exceed the allowable assistance pursuant to the NOFA described above. 2. If the application for funding is approved, the Palm Desert Redevelopment Agency (hereby agrees to use the BEGIN funds for eligible activities in the manner presented in the application as approved by HCD and in accordance with program Guidelines cited above. It also may execute any and all other instruments necessary or required by HCD for participation in the BEGIN Program. 3. The Palm Desert Redevelopment Agency authorizes Carlos L. Ortega, Executive Director, to execute in the name of the Palm Desert Redevelopment Agency, the application, the Standard Agreement, and all other documents required by HCD for participation in the BEGIN Program, and any amendments thereto. PASSED, APPROVED, and ADOPTED by the Palm Desert Redevelopment Agency, this 13th day of October, 2005, by the following vote, to wit: AYES: BENSON, KELLY, SPIEGEL, FERGUSON NOES: NONE ABSENT: CRITES ABSTAIN: NONE Jim F Palm ATTEST: cc- -s� Ra hel e D. Klassen, City Clerk ce Chair evelopment Agency G:\RDA\PATTY LEON\WPDOCSUMM\STAFF REPORIIRESOLUTIONS\BEGIN PROGRAM.DOC