HomeMy WebLinkAbout2000-022 - Mortgage Credit of Certificate Program87
RESOLUTION NO. 2000-022
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 PROJECT AREAS OF THE
AGENCY
WHEREAS, the Community Redevelopment Agency of the City of Santa Ana
(the "Agency") has 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"); and
WHEREAS, it is anticipated that the Program will be operated both within the
project areas of the Agency and outside such project areas but within the boundaries of
the City of Santa Ana (the "City"); and
WHEREAS, the Agency has determined that the Program will be operated both
within the project areas of the Agency and outside such project areas but within the
boundaries of the City; and
WHEREAS, 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:
Section 1. Each of the foregoing recitals is true and correct.
Section 2. 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 Agency.
Section 3. The City hereby finds and determines that the project areas of the
Agency will benefit by the operation of the Program both within and outside the project
areas, but within the boundaries of the City.
Section 4. This Resolution shall take effect immediately upon its adoj~tion by the
City Council, and the City Clerk shall certify the vote adopting this Resolution.
Resolution No. 2000-022
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88
Adopted this 3___.m day of April, 2000.
ATTEST:
~',~-Pal~cia E. Healy
Clerk of the Council
COUNCILMEMBERS:
Pulido Aye
Lutz Aye
Bist Ave
Christy A~ze
Franklin Aye
McGuigan Aye
Moreno A~'e
~/Attorney
CERTIFICATE OF ORIGINALITY
I, PATRICIA E. HEALY, Clerk of the Council, do hereby certify the attached Resolution
No. 2000-022 to be the original Resolution adopted by the City Council of the City of
Santa Ana on "//~/,~' o
//./- ·
Date: ,'//.~'/.-P-~O~ 7"~'~'/~i''/x~ ~
"/ ~',,t. Cler~f the Coun~l ~
City of Santa Ana
Resolution No. 2000-022
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