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8E Consent 2007 0904
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8E Consent 2007 0904
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8/31/2007 4:12:08 PM
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8/31/2007 4:12:03 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
9/4/2007
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_CC Agenda 2007 0904
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Path:
\City Clerk\City Council\Agenda Packets\2007\Packet 2007 0904
RDA Reso 2007-012
(Reference)
Path:
\City Clerk\City Council\Resolutions\2007
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<br />BAHBA Agreement <br /> <br />2 <br /> <br />September 4, 2007 <br /> <br />can feasibly provide. The IOH Program requires developers to use the City Wait List, which <br />currently contains 59 households, to find eligible and qualified buyers. Persons on the Wait List <br />are ranked according to preference categories established under the Inclusionary Housing <br />Ordinance such as City residency and employment by or in the City. <br /> <br />City staff has also detelmined that it would be more cost-effective and streamlined to integrate <br />the administration of both the City's homeownership programs: IOH and First Time Homebuyer <br />Programs. Having a centralized and more experienced administrative entity wi]] enable the City <br />to provide more integrated and comprehensive homebuyer services and undertake more effective <br />marketing of its homeownership programs. It wi]] also ensure that eligible households interested <br />in purchasing available below market rate ownership units under the IOH Program have access to <br />and understanding of the financial and educational resources under the FTHB Program. <br /> <br />BAHBA was created in 2000 as a joint powers authority whose members include Contra Costa <br />County, Alameda County, and several cities within the two counties. BAHBA's primary mission <br />is to promote homeownership opportunities for very-low to moderate-income households. <br />BAHBA is in contract with First Home, Inc. (FHI), which is a licensed real estate company, to <br />manage and administer its operations and contracts. BAHBA administers the homebuyer <br />assistance programs for cities including Alameda, Antioch, South San Francisco, Brisbane, and <br />Redwood City as well as the Millbrae Redevelopment Agency. In addition, BAHBA is <br />administering the below market rate ownership programs for the cities of Alameda, South San <br />Francisco and Brisbane and has had experience implementing similar programs for Oakland and <br />Berkeley along with the counties of Contra Costa, San Mateo and Alameda. <br /> <br />The City has experience working with BARBA. For FY 2006-07, the City entered into a contract <br />with BAHBA to provide free homebuyer counseling services, including credit counseling. In <br />addition to BAHBA's experience in administering public homeownership programs and <br />commitment to helping low and moderate income households achieve homeownership, it also has <br />qualified staff with backgrounds in areas such as housing finance, homebuyer counseling, and <br />public administration. BAHBA already has familiarity with the City's homeownership programs <br />and has the capacity and experience to transition smoothly and quickly into implementing both <br />programs. BAHBA wi]] also advise, as needed, the City on ways to improve the implementation of <br />both programs. Due to the small number of existing contractors who have the capability and <br />experience to administer public homeownership programs and the need for an immediate <br />administrative transition, City staff recommends contracting with BARBA. <br /> <br />The proposed contract with BAHBA to administer the FTHB and IOH Programs in FY 2007-08 <br />will not exceed $34,900 and the scope of work shall include: <br /> <br />. Conducting homebuyer education seminars <br />. Providing one-on-one homebuyer counseling <br />. Administration of the down payment/closing cost loan program. The loan terms are <br />3% interest for 20 years with the first five years deferred for eligible low and <br />moderate income first time homebuyers. <br />
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