Resolution 234A-1994
RESOLUTION 234A -1994
A RESOLUTION OF THE MONROE COUNTY BOARD OF
COUNTY COMMISSIONERS AUTHORIZING THE EXECUTION
OF AN AGREEMENT BET\VEEN THE STATE OF FLORIDA,
FLORIDA HOUSING FINANCE AGE~CY (FHF A) Ai'D \10NROE
COUNTY FOR U.S. DEPARTMENT OF HOLJSING A~D URBAN
DEVELOP~fENT (HUD) HOMEOWNERS HIP INVEST!\1..,.ENT
PARTNERSHIP (HOME) FUNDS AND DIRECTING T~., ~
EXECUTION AND IMPLEMENT A TION OF CONTRA(;! ~AND ::>=>
PROGRAM IMPLEMENTATION DOCUMENTS BY THE-" ~
APPROPRlA TE COUNTY AUTHORITIES. .-
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WHEREAS, County of Monroe has applied for frrst-time n()meown~hip
acquisition federal HOME funds for low-income residents in accordance with
Resolution 255-1993 through the Special Programs Office of the Monroe County
Housing Authority under governmental interlocal agreement~ and
WHEREAS, the Florida Housing Finance Agency (FHFA) has issued a
funding award letter to Monroe County in the amount of $1 ,499.750 for HOME
funds~ and
WHEREAS, the Monroe County Land Authority Advisory Committee and
the Land Authority have approved a resolution authorizing the participation in
FHF A's frrst-tirne homeownership single-family Mortgage Revenue Bond
Program~ and
WHEREAS, on behalf of Monroe County and in support of affordable
housing, the Monroe County Land Authority AdvisOl)' Committee and the Land
Authority have approved a resolution authorizing payment of administrative fees
for the Homeo\\nership Assistance Program (HAP) for closing cost assistance and
deep subsidy zero percent second mortgages being made available by FHF A to the
county in conjunction with the HOME and Mortgage Revenue Bond Programs~
and
WHEREAS, the program design for fIrst-time homeownership activities in
Monroe County will require all eligible low income recipients to meet current
fmancial market underwriting criteria to obtain a fIrst mortgage~ and
WHEREAS, FHF A has submitted a proposed HOME funding agreement
(contract) to the county for execution~ and
~O\\'. THEREFORE, BE IT RESOLVED, the Board of (ounty Commissioners
of Monroe County, in support of affordable housing. hereby authorizes:
I. The Special Programs Office. Monroe County Housing Authority, pursuant
to the HOME grant application and Governmental Interlocal Agreement,
to administer the HOME and associated Mortgage Revenue Bond and HAP
Programs.
2. The County Administrator and/or Chainnan, Board of County
Commissioners, are authorized to execute any required documents on
behalf of the county as the State of Florida's sub-recipient of federal HOME
funds.
This resolution shall become effective immediately upon adoption by the
Commission, by the Presiding Officer and Clerk.
PASSED AND ADOPTED by the Board of County Commissioners of
Monroe County, Florida at a regular meeting of said Board held on the
~of ~A.D.1994.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By:,k~
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(SEAL)
ATTEST:
Mayor London
Mayor Pro Tern Cheal
Commissioner Freeman
Comm.issioner Harvey
Commissioner Reich
YES
YES
YES
YES
YES
~~~ J)e.--.
Danny K age, erk 0 the Court
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