RES-2008-209RESOLUTION NO. 2008 -209
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM (I)
AUTHORIZING THE SUBMITTAL OF AN APPLICATION TO THE
CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT FOR FUNDING UNDER THE BEGIN PROGRAM FOR
PHASE II OF THE AFFORDABLE HOUSING PROJECT LOCATED AT 610
SOUTH OLIVE STREET, (II) IF SELECTED FOR SUCH FUNDING,
AUTHORIZING THE EXECUTION OF A STANDARD AGREEMENT, ANY
AMENDMENTS THERETO AND ANY RELATED DOCUMENTS NECESSARY
TO PARTICIPATE TN THE BEGIN PROGRAM, AND (III) IF SELECTED FOR
SUCH FUNDING, AMENDING THE BUDGET FOR FISCAL YEAR 2008 -09
ACCORDINGLY
WHEREAS, the California Department of Housing and Community Development "HCD has
issued a Notice of Funding Availability "NOFA for the BEGIN Program established by
Chapter 14.5, Sections 50860 through 50866 of Part 2 of Division 31 of the California Health
and Safety Code (the "Statute 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 the BEGIN Program Regulations adopted by HCD on May 21,
2007 (the "BEGIN Program Guidelines and
WHEREAS, funding made available under the NOFA for the BEGIN Program "BEGIN
Program Funding could be used to provide, among other things, 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, a ninety -four (94) unit affordable housing development (the "Affordable Housing
Development is being constructed at 610 South Olive Street in the City of Anaheim pursuant
to that certain Disposition and Development Agreement (Colony Park Phase II) dated as of June
1, 2008 by and between the Anaheim Redevelopment Agency and Brookfield Olive Street LLC;
and
WHEREAS, the City of Anaheim, a municipal corporation and charter city, (the "City desires
to submit an application to HCD for Three Million One Hundred Thousand Dollars ($3,100,000)
of BEGIN Program Funding to be used to provide down payment assistance of up to twenty
percent (20 of the purchase price of the housing units to 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
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. Approval of Application. The Application is hereby approved.
Section 2. Authority to Execute and Submit Application. The Executive Director of the
City's Community Development Department, or her designee, is hereby authorized and directed
to execute and submit the Application to HCD.
Section 3. Authority to Execute Documents and Take Further Actions. The Executive
Director of the City's Community Development Department, or her designee, is hereby
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.
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 2008 -09 shall be amended by increasing the
appropriations and authorized expenditures in the amount equal to the amount of grant funds
received by the City.
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THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
CITY COUNCIL OF THE CITY OF ANAHEIM THIS SIXTEENTH (16 DAY OF
DECEMBER, 2008 BY THE FOLLOWING ROLL -CALL VOTE:
71401.1
AYES: Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring
NOES:
NONE
ABSTAIN: NONE
ABSENT: NONE
ATTEST: As
Air 4 1
4 or. 40-.4110
CLERK OF THE CIT OF
MAYOR OF THE CIT4 AHEIM
AHEIM
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