...Title
First-Time Homebuyer Loan Program: Equity Share Reduction. - DEFERRED
...Recommendations
Adopt a resolution:
(a) Approving the reduction of the City’s Equity Share payment from 30% to 15% for the City’s single-family housing portfolio’s First-Time Homebuyer Loan Program in accordance with applicable laws and funding source requirements; and
(b) Authorizing the Housing Director, or his designee, to renegotiate the Equity Sharing provision and negotiate and execute homebuyer loan documents and all other documents, including any amendments thereto, related to the City’s single-family housing portfolio’s First-Time Homebuyer Loan Program in accordance with applicable laws and funding source requirements.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Housing)
DEFERRED TO 4/8/2025 PER ADMINISTRATION