Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into a contract with the Mid-Ohio Regional Planning Commission (MORPC) to support the Homebuyer Education Program. The Homebuyer Education Program will provide homebuyer counseling, marketing and outreach regarding homeownership opportunities for homebuyers in the City of Columbus. The contract amount will be $20,000.
Low-income families will be educated on establishing good credit and qualifying for a mortgage, will receive down-payment assistance from local agencies, including MORPC, and will receive mortgage loans from local lenders to buy a first home. MORPC will also offer six counseling sessions of six weeks each and individual credit and budget counseling. Four housing fairs will also be held that will promote access to MORPC's programs. This program will serve about 150 people.
Emergency action is requested to allow program services to continue without interruption.
FISCAL IMPACT: Funds for this expenditure are allocated from the 2005 Community Development Block Grant Fund.
Title
To authorize the Director of the Development Department to enter into a contract with the Mid-Ohio Regional Planning Commission for the Homebuyer Education Program; to authorize the expenditure of $20,000 from the 2005 Community Development Block Grant Fund; and to declare an emergency. ($20,000)
Body
WHEREAS, the Department of Development, Housing Division, desires to enter into a contract with MORPC to fund the Homebuyer Education Program; and
WHEREAS, MORPC's Homebuyer Education Program will help low-income families be educated on establishing good credit and qualifying for a mortgage, receiving down-payment assistance from local agencies and receive mortgage loans from local lenders to buy a first home; and
WHEREAS, MORPC will also offer six counseling sessions of six weeks each, individual credit and budget counseling and four hous...
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