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RDA Agmt 2008 Bay Area Homebuyer Agency
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RDA Agmt 2008 Bay Area Homebuyer Agency
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Last modified
2/24/2009 5:45:53 PM
Creation date
7/14/2008 3:30:43 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/7/2008
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RDA Agmt 2009 Bay Area Homebuyer Agency
(Amended by)
Path:
\City Clerk\City Council\Agreements\2009
RDA Reso 2008-018
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2008
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EXHIBIT A <br />SCOPE OF SERVICES <br />L STATEMENT OF PURPOSE <br />The Consultant, and its administrative entity, First Home, Inc., will provide the following <br />services for the City of San Leandro: <br />1) administration of the City's First Time Homebuyer Program. The FTHB Program <br />includes the downpayment/closing cost loan program, FTHB education seminars, <br />homebuyer counseling, marketing, program development, monitoring and performance <br />reporting. <br />2) administration of the City's Inclusionary Ownership Housing Program (IHOP), including <br />managing and monitoring of the City's inclusionary housing/below market rate <br />ownership units, marketing, program development, and performance reporting. <br />3) Implementation ofpost-purchase workshops and counseling to San Leandro residents that <br />have become homeowners through the City's Inclusionary Ownership Housing and First- <br />Time Homebuyer Programs in San Leandro. <br />IL TERM AND COMMENCEMENT OF WORK <br />The term of this agreement shall be for the period of July 1, 2008 through June 30, 2009. <br />III. FIRST TIME HOMEBUYER PROGRAM <br />A. DOWNPAYMENT/CLOSING COST ASSISTANCE LOAN PROGRAM <br />Consultant duties include screening, qualifying and underwriting eligible first time <br />homebuyers for the City's low interest downpayment/closing cost assistance loan. Also, <br />consultant will annually monitor existing loan portfolio for program compliance. <br />Target goal for the Downpayment/Closing Cost Loan Program: Approve S loans to <br />first time homebuyer households <br />B. HOMEBUYER EDUCATION SEMINARS <br />Consultant will conduct two (2) homebuyer education seminars as well as the marketing <br />and outreach for each seminar. The seminars shall cover the following topics: <br />• Deciding to become a homeowner <br />• The financial and personal responsibilities of home ownership <br />• Credit -the implications for homeownership <br />• Financing and qualifying for a home loan <br />• Personal financial budgeting and planning <br />• Homebuyer financing programs -public and private sector <br />• Choosing a real estate professionals and services <br />• Searching for a property <br />Consulting Services Agreement between the Redevelopment Agency of [July 7, 2008] <br />City of San Leandro and Bay Area Homebuyer Agency Page 15 of 20 <br />
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