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Planning and Building Department, Planning Division, Long Range Planning Unit, recommending the Board adopt and authorize the Chair to sign Resolution 219-2019 to:
1) Authorize the submittal of a 2019 HOME Investment Partnerships Program Grant Program Activities allocation application to the California Department of Community Development to provide additional resources up to $1,000,000 for the County’s ongoing First-Time Homebuyer Loan Program; and
2) If awarded, authorize the Director of the Planning and Building Department, or designee, contingent upon approval by County Counsel and Risk Management, to execute the grant agreement and subsequent amendments thereto that do not affect the dollar amount or the term and to sign other grant-related documents.
FUNDING: Federal HOME Investment Partnership Program Grant Funds.
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DISCUSSION / BACKGROUND
The County’s First-Time Homebuyer Program was established through a California State Department of Housing and Community Development (HCD) Community Development Block Grant (CDBG) award approved for submittal on February 4, 2003, by Board of Supervisors Resolution #024-2003. Through subsequent CDBG and HOME Investment Partnership program (HOME) grant awards, the County has continued to provide low-interest, deferred payment loans to low-income persons in the unincorporated area of El Dorado County. The Housing, Community and Economic Development (HCED) Program, under Long Range Planning, is the administrator for the grant program. To date, the First Time Homebuyer Program has provided $5.4 million in loans to sixty-two (62) low-income homebuyers and has a wait list of 39 eligible households.
The continuation of the First-Time Homebuyer Loan Program supports the goals of the General Plan Housing Element Measure HO-2013 -19 to “continue to apply for funding in support of a first-time homebuyers program low to moderate income households. [Policy HO-1.22].”
ALTERNATIVES
The Board may deny the request to su...
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