8E Consent 2009 0406 - Laserfiche WebLink

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First-Time Homebuyer Program Appropriation 3 Apri16, 2009 Program, apply to become a local participating lender with the CaIHFA Affordable Housing Partnership Program, and consider third or lower position behind conventional market and government based loan products. City Council/Redevelopment A~ency Committee Review and Action None Applicable General Plan Policy The proposed policy modifications implement the following Housing Element of the General Plan goals and policies: Goal 55: First-Time Homebuyers Opportunities Provide opportunities for low- and moderate- income San Leandro households to become homeowners. Policy 55.02: Horne Ownership For San Leandro Renters -Expand programs which help San Leandro renters purchase homes in the community. These programs should focus on moderate income households (80 - 120% of area wide median income) but should also provide home purchase opportunities for low- and very-low-income households. Permits and/or Variances Granted Not Applicable. Environmental Review Not Applicable. Code Compliance Review Not Applicable. Board/Commission Findings Not Applicable. Summary Of Public Outreach Efforts Not Applicable Fiscal Impact The First Time Homebuyer Program will need to increase its FY 08-09 loan budget by $142,000 from $300,000 and the increase will be funded by appropriating available and unallocated Set Aside fund balance (Fund 965) to Account 965-85-005-8503 under the First Time Homebuyer Program.