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HomeMy WebLinkAboutResolution 98-121 home investment partnership programRESOLUTION NO. 98-121 A RESOLUTION OF THE MAYOR AND COUNCIL MARANA, ARIZONA, AMENDING REGULATIONS INVESTMENT PARTNERSHIP PROGRAM. OF THE TOWN OF FOR THE HOME WHEREAS, the Town of Marana desires to engage in housing and community development activities as authorized under the Housing and Community Development Act of 1974 and subsequent amendments; and WHEREAS, the Town of Marana previously authorized the formation of a HOME 9" Investment Partnership Program in conjunction with Pima County on May _o, 1995, by Resolution No. 95-30; and WHEREAS, the Town of Marana previously approved the HOME Investment Partnership Program Regulations and Forms on November 21, 1995, by Resolution No. 95-64; and WHEREAS, the Town of Marana previously approved changes to the HOME Investment Partnership Program Regulations and Forms on March 3.1998, by Resolution No. 98-20; and WHEREAS, the Town Council of the Town of Marana has reviewed the HOME Investment Partnership Program Regulations and Forms and has determined that the adoption of the proposed changes to the HOME Investment Partnership Program Regulations and Forms is in the best interest of the To~ of Marana, Arizona. NOW THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Marana. Arizona, that the HOME Investment Partnership Program Regulations and Forms for the Toxvn of Marana~ changes attached hereto as Exhibit A and incorporated herein by the reference, are hereby adopted by the Town of Marana. Arizona. PASSED AND ADOPTED by the Mayor and Council of the Town of Marana. Arizona. this 1st day of December. 1998. Town Attorney Mayor Ora Ham EXHIBIT A HOME iNVESTMENT PARTNERSHIP PROGRAM REGULATIONS AND FORMS REVISIONS DATED DECEMBER 1, 1998 0003.1 ELIGIBILITY REQUIREMENTS (Current) For a household to be eligible under the Town of Marana Home Program, they must live in the Marana Town Limits, cannot exceed annual income limits based upon family size, that are established by HUD, applicant must be a "first-time Homebuyer" as defined in this Program. Applicant must demonstrate the ability to obtain financing through a qualified financial institution. Qualified applicant must agree to occupy house, as a primary residence that is purchased through the program for a period of time to be determined by amount of HOME funds provided, or sell house and repay the Town the amount of assistance. Applicant must certify that they do not have any amounts owing for assisted housing due to Pima County, City of Tucson, or the Town of Marana. No person, on the grounds of race, color, or national origin, shall be excluded from participation in or denied the benefits of, or be subjected to discrimination under this program. 0003.1 ELIGIBILITY REQUIREMENTS (Proposed) For a household to be eligible under the Town of Marana Home Program, they must live within the Marana Unified School District, or currently have a job in the Marana area, cannot exceed annual income limits based upon family size larger than one (1) that are established by HUD, applicant must be a "first-time Homebuyer" as defined in this Program. Applicant must demonstrate the ability to obtain financing through a qualified financial institution. Qualified applicant must agree to occupy house, as a primary residence that is purchased through the program for a period of time to be determined by amount of HOME funds provided, or sell house and repay the Town the amount of assistance. Applicant must certify that they do not have any amounts owing for assisted housing due to Pima County, City of Tucson, or the Town of Marana. No person, on the grounds of race, color, or national origin, shall be excluded from participation in or denied the benefits of, or be subjected to discrimination under this program.