HomeMy WebLinkAboutRDA RES 574RESOLUTION NO. 574
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY AUTHORIZING A REQUEST TO THE CALIFORNIA
DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT TO AMEND THE CONTRACT USE OF
CALIFORNIA NEIGHBORHOOD STABILIZATION PROGRAM
(NSP) FUNDING
The Palm Desert Redevelopment Agency (hereinafter referred to as the "Agency") does
resolve as follows:
WHEREAS, the County of Riverside ("County") and the City of Palm Desert ("City")
executed a Cooperation Agreement for the use of Neighborhood Stabilization Program
Funds ("Cooperation Agreement"), dated 22 December 2009, whereby the City elected to
participate with the County in a joint effort to apply for, receive and use Neighborhood
Stabilization Program ("NSP" or the "Program") funds from the State of California to assist
and undertake essential neighborhood stabilization and housing assistance activities
pursuant to the Housing and Economic Recovery Act of 2008 ("HERA"), and the
subsequent program regulations promulgated by the United States Department of Housing
and Urban Development ("HUD"); and
WHEREAS, the California Department of Housing and Community Development
("HCD") administers NSP funds for the State of California; and
WHEREAS, the City, in cooperation with the Agency, established a 2009-10 NSP
Action Plan (the "Plan") for the participation of very low, low and moderate income residents
in the Program within the City, approved by the City Council on May 26, 2009; and
WHEREAS, the County and the City desire to seek authorization from HCD to
amend the contract use of California NSP funding consistent with HUD and HCD
regulations and rules.
NOW, THEREFORE, THE PALM DESERT REDEVELOPMENT AGENCY BOARD
DOES HEREBY FIND, DETERMINE, RESOLVE AND ORDER AS FOLLOWS:
Section 1. The Agency Board has reviewed and hereby approves and consents to
the County and the City seeking authorization from HCD to amend the contract use of
California NSP funding consistent with HUD and HCD regulations and rules, for the
following activities:
Proposed amended use of funds
i) The City's use of the its allocation of NSP funds of $326,784 shall
include acquisition, rehabilitation, and resale, as well as homebuyer
assistance in the form of silent second loans for the purchase of
eligible foreclosed and/or abandoned bank-owned single family homes
within the City.
ii) Homebuyer assistance shall include silent second loans in direct
homeownership assistance to home buyers who purchase and occupy
eligible single family homes within the City.
RESOLUTION NO. 574
iii) The proposed acquisition, repair, remarketing and resale activities
may be accomplished in partnership with and by an independent
private or public third party with a loan of NSP funds.
iv� The City's Program will be available within the established NSP
eligible target areas as identified on target area maps located at
Section 2. In the event that additional NSP funding becomes available at a later
date, the City is authorized to apply for, and/or accept such additional NSP funding, up to
the amount eligible under any revised or reissued notice of funding availability. Any
additional NSP funding will be used in accordance with funding requirements established by
HUD and/or HCD.
Section 3. The Agency Board hereby authorizes and directs the Executive Director,
with concurrence with Agency Counsel: to take such further actions and execute such other
agreements as may be necessary or appropriate in administering the actions authorized by
this Resolution.
Section 4. The Agency Board hereby authorizes, the Executive Director to sign
Program funds requests and other reporting forms that are required by the Program.
PASSED, APPROVED AND ADOPTED this 24th day of June, 2010 by the
following vote to wit:
AYES: BENSON, FERGUSON, RELLY, SPIEGEL, FINERTY
N O E S: xoxE
ABSENT: xoNE
ABSTAIN: NoxE
�
CI Y FI Y, Chairm
ATTEST:
1
RA E LE D. K SSEN, Secretary
Palm Desert Redevelopment Agency
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