HomeMy WebLinkAboutMINUTES - 03181986 - X.9 Xy
` O- BOARD OF SUPERVISORS
FROM: Anthony A. Dehaesus ^,��,♦
Director of Community Development l[.�;1� 'L
DATE: March 17, 1986 Costa
SUBJECT;
1985, Contra Costa County Home Mortgage Program Courcy
SPECIFIC REQUESTS) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
Authorize the Chairman to execute a letter to Commerce & Industry requesting
their immediate attention to the County's request for confirmation of special
hazard insurance coverage on 1985 mortgage bond loans not being effected by the
use of California Homeownership Assistance Program (CHAP) funds in conjunction
therewith.
BACKGROUND:
The County has requested authorization to originate CHAP loans in conjunction
with 1985 mortgage bond loans in the form of an All Inclusive Trust Deed. CHAP
loans facilitate home ownership for very low income families. Nova Housing is
currently developing manufactured housing on infill lots in North Richmond, San
Pablo and Richmond where the CHAP/bond loan is to be used. A condition of the
approval of the insurer of the bonds - FGIC - is that the special hazard
insurance carrier confirm that the coverage of the bond portion of the loan not
be reduced. Commerce & Industry is the carrier. A request for confirmation has
been pending for some time.
CONTINUED ON ATTACHMENT: _ YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOM ND TI N OF OARD COMMITTEE
APPROVE OTHER
SIGNATURE S :
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
AUNANIMOUS (ABSENT AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVI S ON THE DATE SHOWN.
CC: County Administrator ATTESTED
Community Development PHIL BATCHELOR, CLERK OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
M382/7-83 BY ,DEPUTY