12. Resolution 5033 - 1st Time Homebuyers GrantREPORT TO: The Honorable Mayor Pamela B. Kennedy and City Council
FROM: Susan Moyer, Community Development Director
James H. Patrick, City Manager
SUBJECT: Budgetary Resolution for City of Kalispell HOME Grant
MEETING DATE: July 18, 2005
BACKGROUND:
In April 2005, the City of Kalispell, Community Development Department received notification of
funding for the City's HOME grant application submitted to the Montana Department of Commerce
Housing Division.
The funds will be used to provide down payment and closing cost assistance to households with income at
or below 80% of median income for Flathead County. The participants must have verifiable income,
decent credit, and attend a Homebuyer Education Course. The deferred payment, no interest loan will
become due and payable upon refinance or sale of the property. When the funds are recaptured, the
original loan, together with a share of the equity gained, will be repaid to Glacier .Affordable Housing
Foundation (GAHF). GAHF will then make the funds available to additional eligible households residing
within the city limits of Kalispell. It is anticipated that seven households will be assisted with the HOME
funds and the GAHF recycled funds that have been pledged to the program.
It is a requirement of the HOME grant regulations that a municipality passes a formal resolution
appropriating federal or state money received during the year and acknowledging the non-discriminatory
manner in which participants will be selected.
RECOMMENDATION: City Council approves the Resolution.
FISCAL IMPACT: The City will receive up to $14,153 in administrative funds.
ALTERNATIVES: As suggested by Council.
i
>s. Pa rick
City Manager
Date Prepared: July 14, 2005
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RESOLUTION NO.5033
A RESOLUTION AUTHORIZING ACCEPTANCE OF A HOME INVESTMENT
PARTNERSHIPS PROGRAM (HOME) GRANT FROM THE MONTANA DEPARTMENT OF
COMMERCE.
WHEREAS, in 2005 the City of Kalispell applied for federal, state, local and private funding to
provide down payment and closing cost assistance to low -to -moderate income first time
homebuyers residing within the city limits of Kalispell; and,
WHEREAS, all the necessary funding has been received to permit the project to go forward; and,
WHEREAS, the City of Kalispell may appropriate federal or state money received during the fiscal
year by formal resolution.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL,
AS FOLLOWS:
SECTION L The City of Kalispell is authorized to accept the following grant funding to
perform the above stated project.
SECTION IL The City of Kalispell will ensure that it and all of its contractor's or agents shall
conduct all program matters in a non-discriminatory matter such that all persons
regardless of race, gender, age, disability, or other protected class shall be treated
equally and further each shall comply with the policies and procedures attached
hereto and known as the City of Kalispell Homebuyer Assistance Program
Management Plan, approved by the Montana Department of Commerce HOME
Investment Partnerships Program.
SECTION HI. The City of Kalispell hereby appropriates the sum of $216,333 and directs the
Finance Director to allocate said amount to the following program activities:
EXPENDITURE CODE
ADMINISTRATION COST ACTIVITY COST
$ 14,153 $ 202,180
$ $
TOTALS: $ 14,153 $ 202180
SECTION IV. This Resolution shall become effective immediately following its passage by the
City Council and approval by the Mayor.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE
CITY OF KALISPELL THIS 1 STH DAY OF JULY, 2005.
ATTEST:
Theresa White
City Clerk
Pamela B. Kennedy
Mayor