HomeMy WebLinkAboutMINUTES - 05121987 - 1.39 TO: BOARD OF SUPERVISORS
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FROM: Harvey E. Bragdon �.
Director of Community Development
DATE: April 28, 1987
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SUBJECT: Approval of the 1987-88 Community Development Block Grant ( CDBG)
Program Project Agreement; Eden Council for Hope and Opportunity, Inc.
SPECIFIC REQUEST S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize the Chair to approve the 1987-88 CDBG Program Project
Agreement with the Eden Council for Hope and Opportunity (ECHO)
implementing activity #13-2 Reverse Annuity Mortgage Program with a
payment limit of $21,160. 65 comprised of $1, 160. 65 carried over
from the 1986-87 program year and $20,000 from the 1987-88 program
year.
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FISCAL IMPACT
None ( 100% HUD funds)
BACKGROUND/REASONS FOR RECOMMENDATIONS
ECHO has operated a reverse annuity mortgage program in Contra
Costa County for the past year. This years program is a
continuation of the same program providing counseling to low to
moderate income residents relative to home equity conversion into
monthly income.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECONIlKRNDA OF O COMMITTEE
APPROVE OTHER
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SIGNATURE(S) :
ACTION OF BOARD ON MAY 12 1qA7 APPROVED AS RECOMMENDED X OTHER
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VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
�( 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.
MAY 12 1987
cc: Community Development ATTESTED
County Administrators Office PHIL BATCHELOR, CLERK OF
County Counsel THE BOARD OF SUPERVISORS
Auditor-Controller (Attn: Nona) AND COUNTY ADMINISTRATOR
Contractor
BY C }l DEPUTY
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