Explanation
BACKGROUND:
This legislation authorizes the Director of the Department of Development to enter into a contract with Columbus Housing Partnership to support the Homebuyer Education Program. The Homebuyer Education Program will provide comprehensive counseling and education for homebuyers within the City of Columbus. The contract amount will be $125,000.
Columbus Housing Partnership targets those whose annual income is between 60% and 80% of the area's medium income, a group that is a top priority in the 2005-2009 Consolidated Action Plan for the City of Columbus. Columbus Housing Partnership will offer homebuyer education, pre-purchase counseling, post-purchase counseling, mortgage and delinquency counseling, default counseling, home equity conversion counseling, outreach initiatives, down payment assistance programs and resident development programming to low and moderate income residents throughout the City of Columbus. This program will assist about 900 people.
Emergency action is requested to allow program services to continue without interruption.
FISCAL IMPACT:
Funding for this program is allocated from the 2005 Community Development Block Grant Fund.
Title
To authorize the Director of the Department of Development to enter into a contract with Columbus Housing Partnership to fund the Homebuyer Education Program; to authorize the expenditure of $125,000 from the Community Development Block Grant Fund; and to declare an emergency. ($125,000)
Body
WHEREAS, the Department of Development, Housing Division desires to enter into a contract with Columbus Housing Partnership to fund the Homebuyer Education Program; and
WHEREAS, these monies will be used to provide to provide comprehensive counseling and education for homebuyers in the City of Columbus; and
WHEREAS, Columbus Housing Partnership targets those whose annual income is between 60% and 80% of the area's medium income, a group that is a top priorit...
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