HomeMy WebLinkAboutMINUTES - 07211987 - 1.37 TO: BOARD OF SUPERVISORS �l
FROM: Harvey E. Bragdon Contra
Director of Community Development Cowa
DATE: July 8, 1987 CO "7,
�,
SUBJECT: HR 2640 Legislation Extending the Mortgage Revenue Bond Program
Sunset Date
SPECIFIC REQUEST S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize Chair to sign letters to Congressional delegation
requesting they support and co-sponsor HR 2640.
BACKGROUND/REASONS FOR RECOMMENDATIONS .
Current Federal law provides a Sunset date of December 31, 1988 for
the issuance of single family mortgage revenue bonds.
Representative Brian Donnelly (D-MA) recently introduced HR 2640 to
extend the Sunset date to December 31, 1992. The County has been a
frequent issuer of single family mortgage revenue bonds. The home
finance programs have been very valuable in assisting first-time
homebuyers and lower income homebuyers achieve homeowners 'p.
CONTINUED ON ATTACHMENT: YES SIGNA
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENIJATIONFOVSUbAW COMMITTEE
A
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED JUL 21 1981
PHIL BATCHELOR, CLERK OF
THE BOARD OF SUPERVISORS
AND COUNTY ADMINISTRATOR
BY , DEPUTY
JK/mb
jkl/hr2640.bos