RES-2011-158 RESOLUTION NO. 2011 -158
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM (1) AUTHORIZING THE SUBMITTAL OF AN
APPLICATION TO THE CALIFORNIA STATE DEPARTMENT
OF HOUSING AND COMMUNITY DEVELOPMENT FOR
FUNDING UNDER THE BEGIN PROGRAM FOR THE
AFFORDABLE HOUSING PROJECT LOCATED AT 500 -510 S.
ATCHISON STREET, (2) IF SELECTED FOR SUCH
FUNDING, AUTHORIZING THE EXECUTION OF A
STANDARD AGREEMENT, ANY AMENDMENTS THERETO
AND ANY RELATED DOCUMENTS NECESSARY TO
PARTICIPATE IN THE BEGIN PROGRAM, AND (3) IF
SELECTED FOR SUCH FUNDING, AMENDING THE
BUDGET FOR FISCAL YEAR 2011 -12 ACCORDINGLY
WHEREAS, the California Department of Housing and Community Development
( "HCD ") has issued a Notice of Funding Availability ( "NOFA ") for the Building Equity and
Growth in Neighborhoods Program (the "BEGIN Program "), which is codified in Sections
50860 through 50866 of the California Health and Safety Code (the "Statute "). The BEGIN
Program is a homeownership program that provides grants to qualifying cities, counties, and city
and county entities for the provision of down - payment assistance in the form of a loan to
qualifying low- and moderate - income first -time homebuyers who purchase newly constructed
homes in a BEGIN Program project; and
WHEREAS, pursuant to the Statute, HCD is authorized to approve funding allocations
utilizing monies made available by the State Legislature to the BEGIN Program, subject to the
terms and conditions of the Statute and HCD's BEGIN Program Guidelines (the `BEGIN
Program Guidelines "); and
WHEREAS, funding made available under the NOFA for the BEGIN Program (the
"BEGIN Program Funding ") could be used to provide down payment assistance to first -time
homebuyers in Anaheim with household incomes that do not exceed one hundred twenty percent
(120 %) of area median income; and
WHEREAS, the Anaheim Redevelopment Agency and Brookfield Olive Street III LLC
are parties to that certain Disposition and Development Agreement (Colony Park Phase IV)
dated as of February 15, 2011 which provides for the development of an approximately two
hundred twenty -six (226) unit housing development, of which fifty -seven units will be made
available for sale to low- and moderate - income households (the "Affordable Housing
Development ") at 500 -510 S. Atchison Street; and
WHEREAS, the City of Anaheim, a municipal corporation and charter city (the "City "),
desires to submit an application to HCD for Three Million Eight Hundred Thousand Dollars
($3,800,000) of BEGIN Program Funding to be used to provide down payment assistance in the
form of loans of up to twenty percent (20 %) of the sales price to eligible first -time homebuyers
(i) who acquire homes in the Affordable Housing Development, and (ii) have household incomes
that do not exceed one hundred twenty percent (120 %) of area median income (the
"Application ").
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The foregoing recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
Section 2. Authority to Prepare, Execute and Submit Application. The Acting
Executive Director of the City's Community Development Department (or his designee) is
hereby authorized and directed, as agent of the City, to prepare, execute and submit the
Application to HCD.
Section 3. Authority to Execute Documents and Take Further Actions. The Acting
Executive Director of the City's Community Development Department (or his designee) is
hereby further authorized and directed, if the City is selected by HCD to receive BEGIN
Program Funding, to take such other actions as are consistent with the Application, including the
execution of the Standard Agreement prepared by HCD and all other documents and
amendments required by HCD for participation in the BEGIN Program and deemed necessary
and appropriate by the Acting Executive Director to consummate the transaction contemplated
by the adoption of this Resolution and to administer the City's obligations, responsibilities and
duties to be performed hereunder and under any agreement entered into with HCD in connection
with the BEGIN Program.
Section 4. Agreement to Utilize BEGIN Program Funding in a Manner Consistent
with the Application and the BEGIN Program Guidelines. The City hereby agrees to use BEGIN
Program Funding for eligible activities in the manner presented in the Application as approved
by HCD and in accordance with the BEGIN Program Guidelines, if selected by HCD to receive
such funding.
Section 5. Amendment of Budget. Contingent upon the award of a grant and the
receipt of funds based upon the Application, the annual budget of the Community Development
Department of the City for Fiscal Year 2011 -12 shall be amended by increasing the
appropriations and authorized expenditures in the amount equal to the amount of grant funds
received by the City.
Section 6. This Resolution shall be effective immediately upon adoption.
[Remainder of page intentionally left blank.]
2
THE FOREGOING RESOLUTION is approved and adopted by the City Council of the
City of Anaheim this 15th day of November , 2011, by the following roll call vote:
AYES: Mayor Tait, Council Members Sidhu, Eastman and Murray
NOES: None
ABSENT: Council Member Galloway
ABSTAIN: None
CITY O AHEIM
Agra
MA OR OF THE ITY OF ANAHEIM
ATTEST:
LIL 11iiv
CIT CLERK OF T CITY OF ANAHEIM
86786
3