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HomeMy WebLinkAbout019-85i In the Matter of Adopting HoMe Mortgage) Finance Program in Cooperation with ) County of Contra Costa and Authorizing ) Mayor and City Clerk to Execute for and) on Behalf of City of Danville a ) Cooperative AgreeMent Between County of) Contra Costa and City of Danville ) ) Resolution No. 19-85 UHEREAS, there is a shortage in the County of Centra Costa (the "County") and in the City of Danville (the "City") of decent, safe and sanitary housing, particularly of housing affordable by persons in the lower end of the purchasing spectrum, and a consequent need to encourage the construction of homes affordable by such persons and otherwise to increase the housing supply in the County and in the City for such persons; and UHEREAS, the Board of Supervisors of the County has adopted an ordinance declaring its intent to engage in a home Mortgage finance program (the "PrograM") pursuant to Chapters 1-5 of Part 5 of Division S1 of the Health and Safety Code of the State of California (the "Act") and to issue bonds pursuant to the Act to provide funds for the PrograM; and UHEREAS, the Council finds and determines that it is in the best interest of the City to adopt the Program and to consent to the operation of the Program by the County within the geographic boundaries of the City pursuant to the Act. NOV, THEREFORE, BE IT RESOLUED by the City Council of the City of Danville as follows: I _ 542 San Ramon Valley Blvd. The City hereby adopts the Program for the purpose of increasing the housing supply in the County and in the City of Danville and consents to the operation of the Program by the County with respect to all property located within the geographical boundaries of the City of Danville_ The Cooperation Agreement, dated as of February 1, 1985, between the County and the City (the "Agreement") a copy of which is attached hereto as Exhibit R, is hereby approved, and the ~'tayor and City Clerk are hereby authorized and directed to execute and deliver said AgreeMent, for and in the name and on behalf of the City_ The Mayor, with the advice and consent of the City Attorney, is authorized to approve any acditions to or changes in the form of said AgreeMent which they deem necessary or advisable, their approval of such additions or changes to be conclusively evidenced by execution by the Mayor of said Agreement as so added to or changed_ · Danville, CA * 94526 * (415) 820-6337 '~/ ? The Mayor, with the advice and consent of the City Attorney, is further authorized to enter into such addi. tional agreenents with the County, execute such other docu,ents or take such other actions as they ,ay deem necessary or appropriate to carry out the purpose and intent o'f the Agreement or to cooperate in the implementation of the Program. PASSED~ APPROVED AND ADOPTED by the £ity Council of the City of Danville on March 187 1985, by the following vote: RYES= Lane, McNeely, Offenhartz NOES= ABSTAIN= ABSENT= ATTEST= None Planning DepartmeF-' County Administration Building, North Wing ,,~, P.O. Box 951 Martinez. California 94553-0095 Anthony A. Deheesus Director of Planning Phone: 372-2026 Contra Costa County EX- .3 -A February 7, 1995 Mr. Michael Davis City Manager Town of Danville 5#2 San Ramon Valley Blvd. Danville, CA 99526 Dear Mr. Davis: Contra Costa County is once again putting together a ~ousing revenue bond program pursuant to AB 1355 (Part 5 of Division 31 of the Health and Safety Code). The purpose of the program is to make available below market interest rate mortgage loans to primarily first time homebuyers. The mortgage funds may be used to purchase new and existing homes. We are also considering a home improvement loan component and a purchase or refinance and rehabilitation component in the 19gt, issue. The County is currently proceeding along a time schedule which would call for the sale of the revenue bonds in the spring, market conditions allowing. The County is legally authorized to undertake a housing revenue bond program in the unincorporated County and in cities which desire to participate and which sign cooperation agreements. The County would like to provide your city with an opportunity to participate with the County in this effort. Although note of the developers in this bond issue have indicated the intent to provide financing for a development within your city the completion of a Cooperation Agreement would result in the existing homes in the city being eligible for financing in the resale component of the program. In addition, if the bond issue includes a home improvement and/or purchase-rehab component the Cooperation Agreement would allow use of the funds within the city. It would also allow for future re-allocation of funds to projects within the city. If your city is interested in participating please execute the attached Cooperation Ag'eements. A draft City Council resolution is also attached for your use. Please return two executed copies of the Cooperation Agreement to the County Planning Department by March 1, 1985. If you have any questions in this matter call James Kennedy of my staff at 372-2035. AAD/mbL $incerely~rs, · :, ^._ cc: Carol Jansen attachments In the Matter of Adopting Home Mortgage ) Finance Program in Cooperation with ) County of Contra Costa and Authorizing ) Mayor and City Clerk to Execute for ) and on Behalf of City of ) a Cooperative Agreement Between ) County of Contra Costa and City of ) ) ) ~mm mm :X' 3T3 RESOLUTION NO. WHEREAS, there is a shortage in the County of Contra Costa (the "County") and in the City of (the "City") of decent, safe and sanitary housing, particularly of housing affordable by persons in the lower end of the purchasing spectrum, and a consequent need to encourage the construction of homes affordable by such persons and otherwise to increase the housing supply in the County and in the City for such persons; and WHEREAS, the Board of Supervisors of the County has adopted an ordinance declaring its intent to engage in a home mortgage finance program (the "Program") pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") and to issue bonds pursuant to the Act to provide funds for the Program; and WHEREAS, the Council finds a~d determines that it is in the best interest of the City to adopt the Program and to consent to the operation of the Program by the County within the geographic boundaries of the City pursuant to the Act. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of as follows: I. The City hereby adopts the Program for the purpose of increasing the housing supply in the County and in the City of and consents to the operation of the Program by the County with respect to all property located within the geographical boundaries of the City of e The Cooperation Agreement, dated as of February 1, 1985, between the County and the City (the "Agreement"), a copy of which is attached hereto as Exhibit A, is hereby approved, and the Mayor and City Clerk are hereby authorized and directed to execute and deliver said Agreement, for and in the name and on behalf of the City. The Mayor, with the advice and consent of the City Attorney, is authorized to approve any additions to or changes in the form of said Agreement which they deem necessary or advisable, their approval of such additions or changes to be conclusively evidenced by execution by the Mayor of said Agreement as so added to or changed. The Mayor, with the advice and consent of the City Attorney, is further authorized to enter into such additional agreements with the County, execute such other documents or take such other actions as they may deem necessary or appropriate to carry out the purpose and intent of the Agreement or to cooperate in the implementation of the Program. on ADOPTED by the City Council of the City of , by the following vote: AYES: NOES: ABSTAIN: ABSENT: Mayor ATTEST: City Clerk G RESOLUTION NO. EXH 3.TC COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF CONTRA COSTA AND THE CITY OF Danvi 1 le THIS COOPERATIVE AGREEMENT (the "Agreement"), made and entered into as of February I, 1985 by and between the County of Contra Costa, a poll,icad subdivision of the State of California (the "County"), and the City of Danvi 1 l e , a general law city and political subdivision of the State of California (the "City't), WlTNESSETHE WHEREAS, the County has determined to engage in a home mortgage finance program pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") to make or acquire, directly or indirectly, loans to finance the construction or acquisition of homes in the County, all as provided for in the Act (the "Program"); and WHEREAS, the County pursuant to the Act, has adopted a home finance program by Ordinance No. 82-5 and has determined to cooperate with the City pursuant to the Act in the exercise of its powers under the Act for purposes of the Program; and WHEREAS, the City, pursuant to the Act, has adopted a home mortgage finance program and has determined to cooperate with the County pursuant to the Act in the exercise of its powers under the Act for purposes of the Program~ NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: SECTION 1: The terms used in this Agreement shall, for all purposes of this Agreement, unless otherwise defined herein, have the meanings assigned to such terms in the Act. SECTION 2: The County agrees to undertake the Program and to issue revenue bonds therefor pursuant to the Act as soon as practicable. SECTION 3. The City hereby agrees to cooperate with the County in the exercise jointly or otherwise of their powers for the purpose of financing home mortgages pursuant to the Act by agreeing that the County shall exercise such powers to make or acquire home mortgages under the Program, all as more specifically set forth in the Act, with respect to property located within the geographic boundaries of the City. The City hereby agrees not to issue mortgage revenue bonds pursuant to the Act from the date hereof until May 1, lgg&, without the prior written consent of the County. If, prior to May 1, 19g&, the City desires to issue mortgage revenue bonds, the County shall consent if One or both of the following conditions are established to the satisfaction of the County, and such consent shall not be unreasonably withheld. (1) No development or phase of a development within the City's proposed issue is currently within the County's issue; or (2) Sixty-six percent (66%) of the bond proceeds allocated for home mortgages to be originated within the City are subject to firm commitment letters (as that term is defined in the Origination, Service and Administration Agreement for the Program) for home mortgages as of the date of issuance of the City's mortgage revenue bonds. Page 2 SECTION ~. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Agreement. Nothing in this Agreement shall prevent the County from entering ha-.o one or more agreements with other political subdivisions within the County, if deemed necessary and advisable to do so by the County. SECTION 5: This Agreement may be amended by one or more supplemental agreements executed by the County and the City at a~,y time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of any bonds issued by the County pursuant to tPe Act in connection with the Program. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested by their proper officers thereunto duly authorized, and their official seals to be hereto affixed, all as of the day first above written. CITY OF CONTRA COSTA COUNTY By: By: Mayor Chairwoman, Board of Supervisors ATTEST: ATTEST: Phil Batchelor, County Administrator and Ex-Officio Clerk of the' Board By: City Clerk By: Deputy APPROVED AS TO FORM: APPROVED AS TO FORM: Victor 3. West man, County Counsel City Attorney By: Assistart County Counsel (Seal) (Sea .) Disk G COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF CONTRA COSTA AND THE CITY OF Danvi ]]e THIS COOPERATIVE AGREEMENT (the "Agreement"), made and entered into as of February 1, 19S5 by and between the County of Contra Costa, a political subdivision of the State of California (the "County"), and the City of Danvi 1 l e , a general law city and political subdivision of the State of California (the "City"), WlTNESSETI-h WHEREAS, the County has determined to engage in a home mortgage finance program pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") to make or acquire, directly or indirectly, loans to finance the construction or acquisition of homes in the County, all as provided for in the Act (the "Program"); and WHEREAS, the County pursuant to the Act, has adopted a home finance program by Ordinance No. 82-5 and has determined to cooperate with the City pursuant to the Act in the exercise of its powers under the Act for purposes of the Program; and WHEREAS, the City, pursuant to the Act, has adopted a home mortgage finance program and has determined to cooperate with the County pursuant to the Act in the exercise of its powers under the Act for pfirposes of the Program; NOW, THEREFORE, in consideration of the mutual covenants hereinattar provided, the parties hereto agree as follows. SECTION 1: The terms used in this Agreement shall, for all purposes of this Agreement, unless otherwise defined herein, have the meanings assigned to such terms in the Act. SECTION 2: The County agrees to undertake the Program and to issue revenue bonds therefor pursuant to the Act as soon as practicable. SECTION 3. The City hereby agrees to cooperate with the County in the exercise jointly or otherwise of their powers for the purpose of financing home mortgages pursuant to the Act by agreeing that the County shall exercise such powers to make or acquire home mortgages under the Program, all as more specifically set forth in the Act, with respect to property located within the geographic boundaries of the City. The City hereby agrees not to issue mortgage revenue bonds pursuant to the Act from the date hereof until May 1, 1986, without the prior written consent of the County. If, prior to May l, 1986, the City desires to issue mortgage revenue bonds, the County shall consent if one or both of the following conditions are established to the satisfaction of the County, and such consent shall not be unreasonably withheld. (1) No development or phase of a development within the City's proposed issue is currently within the County's issue; or (2) Sixty-six percent (66%) of the bond proceeds allocated for home mortgages to be originated within the City are subject to firm commitment letters (as that term is defined in the Origination, Service and Administration Agreement for the Program) for home mortgages as of the date of issuance of the City's mortgage revenue bonds. Page 2 SECTION ~. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Agreement. Nothing in this Agreement shah prevent the County from entering in~o one or more agreements with other political subdivisions within the County, if deemed necessary and advisable to do so by the County. SECTION 3: This Agreement may be amended by one or more supplemental agreements executed by the County and the City at any time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of any bonds issued by the County pursuant to tee Act in connection with the Program. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested by their proper officers thereunto duly authorized, and their official seals to be hereto affixed, all as of the day first above written. CITY OF CONTRA COS-.A COUNTY .,...-,, By: By: Mayor Chairwoman, Board of Supervisors ATTEST: ATTEST- Phil Batchelor, County Administrator and ix-Officio Clerk of the Board By: City Clerk By: Deputy APPROVED AS TO FORM: APPROVED AS TO FORM- Victor 3. West man, County Counsel City Attorney By: Assistant County Counsel (Seal) (Sea_) Disk G / · Establish a redevelopment agency and adopt a redevelopme,~ area plan and program that will provide improved housing opportunities in the central area of the Town. · Conduct periodic city-wide surveys of housing and neighborhood quality, to identify needs for improved maintenance and rehabilitation of private property and public facilities. · Prepare and maintain an inventory of vacant land parcels throughout the Town and its Sphere of Influence, in order to identify sites for residential use and to advise prospective developers regarding development potential: site char- acteristics, General Plan designation, zoning, etc. · Actively participate in the county's Community Development Block Grant program, in setting priorities among county-wide projects and to secure funds to help develop increased housing options in Danville for low- and moderate-income people. Revise the Zoning Ordinance to permit residential uses to be developed and integrated with non-residential uses in existing and new office and commercial developments. · Actively participate in county and State programs to use mortgage revenue bonds to expand housing opportunities for low- and moderate-income people, including both single famil~ and multi-family housing. '~' -39-