Reso 2000-058 - Laserfiche WebLink

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Strategic Plan — FY 2000 -FY 2004 • City of San Lcandro Page 16 of 35 Accomplishments Mortgage Credit Certificate (MCC) Program • The City of San Leandro will annually contribute Redevelopment Housing Set -Aside funds toward the administrative costs of the MCC program, which is administered by the County of Alameda HCD Program. The MCC program allows low- and moderate - income homebuyers to deduct 20% of their annual mortgage interest payments on their federal income tax returns. This effectively lowers the dollar amount of their monthly mortgage payments. Approximately 25 certificates are expected to be issued to San Leandro moderate- and middle- income homebuyers during the next five years. First -Time Homebuyer Information Seminars • The City sponsors First -Time Homebuyer Information Seminars to inform prospective low- and moderate - income, first -time homebuyers of the various programs available through private lenders, the Redevelopment Agency, and the County's Mortgage Credit Certificate Program. The program is funded with CDBG and Redevelopment Housing Set -Aside funds. Two seminars will be held annually over the next five years. Approximately 35 people attend each seminar. First -Time Home I3uyers Program • The First -Time Home Buyers Program provides low- interest, deferred - payment loans of up to $10,000 to qualified low -, moderate- and middle- income homebuyers. These funds may be applied to down payment or used as gap financing assistance. The program will assist approximately 20 very low -, low -, moderate- and middle- income homebuyers per year. Geographic Distribution All programs listed are available to eligible households throughout the City of San Leandro. Priority: Reduce housing discrimination. Prioritv Analysis and Obstacles to Meeting Underserved Needs The following analysis of housing discrimination and obstacles to meeting this need was prepared by the HOME Consortium. As a Consortium member, the City of San Leandro subscribes to this priority and has proposed activities that meet the objective of reducing housing discrimination. The Alameda County HOME Consortium Housing Market Analysis shows that Alameda County is racially and ethnically diverse. In 1999, over half of the population were people of color. Eden Council for Hope and Opportunity (ECHO Housing), a local fair housing advocacy organization, reports in recent years it has received increased numbers of fair housing complaints which charge discrimination based on race, ethnicity, family composition and size. Sentinel Fair 1-lousing, a fair housing counseling