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8E Consent 2009 1207
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8E Consent 2009 1207
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12/3/2009 12:15:21 PM
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12/3/2009 12:15:18 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
12/7/2009
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_CC Agenda 2009 1207
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Path:
\City Clerk\City Council\Agenda Packets\2009\Packet 2009 1207
Reso 2009-158
(Reference)
Path:
\City Clerk\City Council\Resolutions\2009
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the sum of at least $1,000,000 per Subject Property (without aggregate limits <br />applicable to multiple Properties). <br />11. Selecting and engaging a Homebuyer Counseling Agency to undertake all activities <br />as required. <br />12. Overseeing and managing the overall Homebuyer Counseling activities of the <br />Program and its various components, including but not limited to: <br />a) Marketing of the Subject Properties to prospective homebuyers; <br />b) Provision of HUD-approved homebuyer counseling courses in English and <br />Spanish; <br />c) Provision of credit counseling and money management training; <br />d) Identification of Eligible Purchasers and provision of evidence that Eligible <br />Purchaser meets the income limits established by the NSP; <br />e) Facilitation of the use of all available first-time homebuyer assistance <br />programs, as qualified; <br />f) Identification of the most competitive and compatible mortgage financing <br />available for Eligible Purchasers; <br />l3. Creating Virtual Landlord website for homeowners of Subject Properties to utilize in <br />addressing any home maintenance concerns and performance of routine upkeep. <br />14. Ensuring recognition of the role of the County in providing services through this <br />agreement. As appropriate, Contractor shall cause activities, facilities and items utilized <br />pursuant to this Agreement to be prominently labeled as to funding source. In addition, <br />CONTRACTOR shall include a reference to the support provided herein in all <br />publications made possible with the funds available under this Agreement. <br />C. Timing and Milestones <br />CONTRACTOR shall meet specific time lines for the following tasks: <br /> Item Date <br />l Execute MOU with Homebu er Counselin Agenc <br />2 Secure leveraged financing <br />3 Begin first hase by ac uirin first ro erty <br />4 Meet HUD's Expenditure Deadline by committing all NSP <br />funds to specific Sub~ect Pro eriies <br />5 Ac uire last ro erty in the first hase <br />6 Complete construction on all ro erties in the first hase <br />28 of 55 <br />
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