HomeMy WebLinkAbout2009-027 - Mortgage Credit Certificate Program by the Community Redevelopment AgencyRESOLUTION 2009-027
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A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA APPROVING THE OPERATION
OF A MORTGAGE CREDIT CERTIFICATE PROGRAM
BY THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF SANTA ANA OUTSIDE THE MERGED
REDEVELOPMENT PROJECT AREA OF THE AGENCY, BUT
WITHIN CITY BOUNDARIES
BE IT RESOLVED BY THE MEMBERS OF THE CITY COUNCIL, AS
FOLLOWS:
Section 1. The City Council for the City of Santa Ana finds, determines and
declares as follows:
A. The City of Santa Ana ("City") and the Community Redevelopment Agency of the
City of Santa Ana (the "Agency") have determined the importance of participation
in a Mortgage Credit Certificate Program (the "Program") for the benefit of first-
time homebuyers to be administered by the County of Orange (the "County')
pursuant to the provisions of Part 5 of Division 31 of the Health and Safety Code
of the state of California (the "Act") and the Internal Revenue Code of 1986 (the
"Code").
B. The Program will be operated both within the merged redevelopment project
area of the Agency and outside such area, but within the boundaries of the City
of Santa Ana.
C. The Agency and the County will enter into a Cooperative Agreement
("Agreement") for the County to administer the Program. Under the terms of the
Agreement, the Agency will be required to pay a proportionate share of the
administrative costs of the Program.
D. The City finds and declares that such expenditures will be of benefit to the entire
merged redevelopment project area, and to all residents of the City. This finding
is made pursuant to Health & Safety Code § 33334.2(8)(1).
E. The County of Orange will apply for an allocation from the California Debt Limit
Allocation Committee ("CDLAC") for authority to issue mortgage credit
certificates, which allocation, when and if received, will be made available to the
Agency and other participating cities; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SANTA ANA, AS FOLLOWS:
Resolution No. 2009-027
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Section 2. The City Council finds that each of the foregoing recitals is true and
correct.
Section 3. The City hereby approves the filing of an application with CDLAC on
behalf of the Agency for an allocation of authority to issue mortgage credit certificates
by the County of Orange, for the operation of the Program by the County.
Section 4. The City hereby finds and determines that the merged redevelopment
project area of the Agency will benefit by the operation of the Program both within and
outside the merged redevelopment project area, but within the boundaries of the City.
Section 5. This Resolution shall take effect immediately upon its adoption by the
City Council, and the City Clerk shall certify the vote ac
Adopted this 1st day of June, 2009.
APPROVED AS TO FORM:
Joseph W. Fletcher, City Attorney
Lisa E. Storck
Assistant City Attorney
AYES: Councilmembers: Alvarez Benavides Bustamante. Martinez,
Pulido Sarmiento. Tinaiero (7)
NOES: Councilmembers: None (0)
ABSTAIN: Councilmembers: None (Ol
NOT PRESENT: Councilmembers: None (0)
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, PATRICIA E. HEALY, Clerk of Council, do hereby attest to and certify the attached
Resolution No. 2009-027 to be the original resolution adopted by the City Council of the
City of Santa Ana on June 1.2009.
Date: "' ~
f r
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Clerk of Council
City of Santa Ana
Resolution No. 2009-027
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