HomeMy WebLinkAbout2001-018 - Mortgage Credit Certificate ProgramRESOLUTION 2001-018
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
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
1. The City Council of the City of Santa Ana hereby finds, determines and
declares as follows:
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 Chapter 3.5 of Part 1 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").
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.
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.
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 MCC Program.
3. The City hereby finds and determines that the project areas of the Agency
will be benefited by the operation of the Program both within and outside the project
areas, but within the boundaries of the City.
4. This Resolution shall take effect immediately upon its adoption by the City
Council, and the City Clerk shall certify the vote adopting this Resolution.
ADOPTED this 20th day of February, 2001.
Resolution No, 200t-018
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ATTEST:
Patr~J~ E.-Healy
Clerk of the Council
~1A. Pulldo
COUNCILMEMBERS:
Pulido Aye
McGuigan Absent
Alvarez Aye
Bist Aye
Christy Abstain
Franklin Aye
Solorio Aye
APPROVED AS TO FORM:
Joseph W. Fletcher, City Attorney
["~ u ra She~dy /
Deputy City Attorney
CERTIFICATE OF ORIGINALITY
I, PATRICIA E. HEALY, Clerk of the Council, do hereby certify the attached Resolution
No. 2001-018 to be the original resolution adopted by the City Council of the City of
Santa Ana on February 20, 2001.
Clerl~f the Council
City of Santa Ana
Resolution No. 2001-018
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