HomeMy WebLinkAbout19619 - RESOLUTIONS - 7/21/1999 RESOLUTION NO. 19619
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF PALM SPRINGS APPROVING GUIDELINES
FOR MARKETING AND PARTICIPATION IN THE
PACIFIC HOUSING&FINANCE AGENCY, AN ,
EXERCISE OF JOINT POWERS AGENCY
WHEREAS, the City of Palm Springs seeks to promote home ownership to improve the
condition of the City's housing stock and to further economic development for the welfare
of its residents; and
WHEREAS, the City of Palm Springs has adopted the promotion of home ownership as
one of its priority goals in both the Housing Element of the General Plan and the
Consolidated Plan; and
WHEREAS, there is growing need for the cities to find new and cooperative ways to
develop programs that will increase home ownership levels and improve community life;
and
WHEREAS, the Pacific Housing & Finance Agency(PACFA) is a cooperative approach
between cities that will increase:home ownership and thereby improve the quality of
community life for those cities participating in the Agency; and
WHEREAS, the City of Palm Springs will further its adopted goal of promoting home
ownership within the community through membership in the Pacific Housing& Finance
Agency and the development of a"lease to own" program for residential purchases; and '
WHEREAS, the Pacific Housing & Finance Agency provides for home ownership
programs individually tailored for each member city;
WHEREAS, City Council Resolution 19418 adopting the Joint Powers Agreement
instructed City staff to develop guidelines for participation in the program for approval by
Council;
NOW THEREFORE, the City Council of the City of Palm Springs, California, does hereby
resolve as follows:
SECTION 1. Intended Uses of the Lease-Purchase Program. The PACFA j ease-
Purchase Program may be used in the City of Palm Springs for:
A. The purchase of a new house in the City.
B. The purchase of an existing house in the City.
C. The purchase of a house from a landlord in the City.
D. The purchase and rehabilitation of an existing house in the City.
E. The purchase of any single-family house owned by the City of Palm
Springs, the Palm Springs Community Redevelopment Agency, or
any other legal entity of the City. '
F. Lease-Purchaser's income may be up to 140% of the median
income for Palm Springs, except for purchases of City- or Agency-
owned property, which is limited to purchasers below 1200ro of the
median income for Palm Springs.
Igb
Res. No. 19619 107 �zW
Page 2
SECTION 2. Marketing of the Program. The PACFA Lease-Purchase Program may be
marketed in the City of Palm Springs to:
A. Industry and private sector employers in the City for their
employees.
B. City employees, except the City Council & City Manager.
C. Employees of the Palm Springs Unified School District, the Desert
Water Agency, the County of Riverside, or the State of California.
D. The General Public.
SECTION 3. Use with Other Programs. The PACFA Lease-Purchase Program maybe
used with any of the following programs in the City of Palm Springs:
A. Any City-, Community Development Block Grant, or Community
Redevelopment Agency-sponsored rehabilitation program.
B. City-or Agency-sponsored"silent second" loans.
C. Any program of the Community Redevelopment Agency using some
portion of the Agency's 20% setaside funds(pursuant to Califonia
Health& Safety Code Section 33334.2)to construct or rehabilitate
single-family homes.
D. Any program developed using HOME funds to construct or
rehabilitate single-family homes.
SECTION 4. Restrictions of the Program.
A. No more than 25%of the homes in a new-home subdivision may be
eligible for participation in the PACFA Lease-Purchase Program.
B. Any use of the PACFA Lease-Purchase Program with City-or
Agency-Sponsored programs will be subject to the stricter income
guideline of no more than 120% of the median income for the Palm
Springs area.
C. All homes purchased in Palm Springs with the PACFA Lease-Purchase
Home Ownership Program shall be single—family, detached houses.
ADOPTED this 21 s t day of July 11999.
AYES: Members Barnes, Hodges, Oden, Reller-Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CITYY GS, CALIFORNIA
Bye.. v0
City Clerk City Manager
REVIEWED& APPROVED AS TO FORM: f(�`f