HomeMy WebLinkAboutMINUTES - 04181989 - 1.21 w _ d
TO: BOARD OF SUPERVISORS ++
FROM: Harvey E. Bragdon Cont
Director of Community DevelopmentC�IJJIa
DATE: April 5, 1989 County
SUBJECT: National Affordable Housing Act (S-565)
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Adopt position and support of the National .Affordable Housing Act
S-565 and authorize the Chair to . sign letters to the County' s
Federal Legislative delegation expressing said support.
BACKGROUND/REASONS FOR RECOMMENDATIONS
Senator Allen Cranston (D-California) and Senator Alfonse D'Amato
(R-NY) have introduced an omnibus housing bill - The National
Affordable Housing bill. The bill contains a number of new housing
initiatives including:
1. A $3 billion dollar housing opportunity partnership under
which housing trust funds would be established for entitlement
counties, cities and states from which jurisdictions could
draw-down for investment in affordable housing.
2. Permit first time homebuyers to use IRA accounts for down-
payments on a home.
3 . Make changes to the FHA Home Purchase Lending programs
including setting the FHA mortgage ceiling at 950 of the
median sales price for the State or a sub-area of the State.
4 . Extend the Mortgage Revenue Bond and Mortgage Credit
Certificate Programs for three years.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATI OF BO / commAPPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APR 1 8 1989APPROVED AS RECOMMENDED g OTHER
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.
APR 18 1989
cc: Community Development ATTESTED
Housing Authority PHIL BATCHELOR, CLERK OF
CHART THE BOARD OF SUPERVISORS
A AND COUNTY ADMINISTRATOR
BY /J, 1� DEPUTY
jk5/natafhs.bos
5. Establish a new office of affordable housing preservation to assist in the
retention of existing affordable housing for. low and moderate income.
6. Provide permanent authority for a low income housing tax credit.
7. Provide for the distribution of McKinney homeless funding on an entitlemen
basis to states and localities.
8. Reauthorize CIAP modernization programs for public housing.
9. Reauthorize existing farmers home administration programs.
10. Authorize a new form of rental subsidy - rent credits which combine the
best features of the Section 8 and Housing voucher programs.