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<br />~EST FOR CITY COUNCIL AGE. ITEM <br /> <br />Agenda Date Requested: November 8. 1993 <br />Requested By: Charles Harrington et:.Jt' Department: <br /> <br />Planning <br /> <br />x <br /> <br />Report <br /> <br />Resolution <br /> <br />x <br /> <br />Ordinance <br /> <br />Exhibits: <br /> <br />1. Ordinance <br />2. Letter from Southeast Texas Housing Finance Corporation <br /> <br />SUMMARY Be RECOMMENDATION <br /> <br />Background <br /> <br />The Texas Department of Housing and Community Affairs (TDHCA) has recently <br />established its HOME Program that is aimed at developing affordable housing within a <br />community. There are two programs that would be of special benefit to the Citizens of <br />La Porte. <br /> <br />The first program is the Owner-Occupied Housing Program. This program provides <br />HOME funds either through loans or grants for the rehabilitation of houses that are owner- <br />occupied. This program aids in the maintenance of the existing housing stock in a <br />community . <br /> <br />The second program is the First-Time Home Buyers Program. This program provides <br />new home buyers with down payment assistance and closing cost assistance to purchase <br />their first home. <br /> <br />In order to participate in these programs, the City of La Porte must, according to the <br />regulations, submit an application to TDHCA for funds in these programs. This <br />application and the administration of the program would be performed by the Southeast <br />Texas Housing Finance Corporation, of which the City of La Porte is a member. There <br />will be no expenses to the City of La Porte other that staff time in providing information <br />to Southeast Texas. <br /> <br />Recommendation <br /> <br />The staff recommends that the City Council authorize the City Manager to complete all <br />documentation necessary to submit an application to TDHCA for participation in the <br />HOME Program. <br /> <br />Action Required by Council: <br /> <br />Approve an ordinance authorizing the City Manager to complete all documentation <br />necessary to submit an application to the Texas Department of Housing and Community <br />Affairs for funding under the HOME Program. <br /> <br />Availability of Funds: N/ A <br /> <br />General Fund <br />_ Capital Improvement <br />Other <br /> <br />Water /Wastewater <br />General Revenue Sharing <br /> <br />Account Number: <br /> <br />Funds Available: _YES <br /> <br />_NO <br /> <br />Approved for City Council Agenda <br /> <br />~I'~ <br />Ro ert T. Herrera <br />City Manager <br /> <br />1l(3Ic(~ <br /> <br />DATE <br />