Reso 2006-104 - Laserfiche WebLink

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. First-Time Homebuyer Program . In Septemher 2005, the City approved changes to its First-Time llomebuyer Program (FTHB) to accommodate the changing needs of low- and moderate-income first-time homebuyers- The City's rTI-lR Program is funded solely with Redevelopment Housing Set-Aside funds. Among the changes, two were significant: . The max imum loan amount was increased from $20,000 to $30,000. . The City will work with the Bay ^rea Homebuyer Agency to implement the WorHorce Initiative Subsidy for 110meownership (WISH). WISII is a Federal Ilome Loan Bank down payment assistance program designed to assist qualified low-income homebuyers who are saving for their down payments. The program recruits and prepares qualified homebuyers to receive matching forgivable loans from one ofthe participating member banks. . One homebuyer loan was approved in rY2005-06 to allow a moderate-income family to purchase a condominium from the City's First-Time I Iomebuyer Program. . City staff sponsored and provided four homebuyer counseling seminars for potential firsl- time buyers. Local m0l1gage lenders. realtors, appraisers, escrow officers, and home inspectors helped teach the sem inars. One hundred forty-seven (147) people received certificates of completion, an 86% increase in enrollment compared to fiscal year 2004- 05_ Feedback has been very positive about these seminars. . Inclusionary Housing Program . In FY 2005-06, there were four development projects which entered into Inclusionary I lousing Agreements with the City that will be providing a total of nine affordable units: two low-income and seven moderate-income. These nine projects are anticipated to be completed in FY2006-07. Objective: Create Suitable Livin2. Environment Priority # 4. Reduce housing discrimination. Activities: -~_.~ . Eden Council for Hope and Opportunity Housing (ECHO) The City contracted with ECHO Housing, a regional non-profit fair housing agency, to provide fair housing services through CDI1Ci funds. There were 24 fair housing inquiries involving S4 landlords/property managers and tenants. Four inquiries were related to disability issues (three tenant inquiries and one landlord/property manager inquiry). ECHO educated people about fair housing laws, rights and responsibilities as well. . ECHO investigated complaints from 19 households (involving 43 prospective tenants) of alleged housing discrimination- Ten complaints involved race. three involved disability, 13 involved familial status (children in the family), one involved age, and one involved Lln,li Consolidat~d Annual Pert()rl1l,lI1c~ <Inti I,VHI'H'li"o R~port: I:Y1005 :'006 CilY of Siln Leandro PHg~ (,