HomeMy WebLinkAboutMINUTES - 05071991 - 1.86 TO: BOARD OF SUPERVISORS
FROM: Franklin Lew, Director of Building Inspection
DATE: April 10, 1991
SUBJECT: Loan Participation Agreement between the County and Great
Western Bank for the Housing Rehabilitation Loan Program
1991/92 Agreement
SPECIFIC REQUEST(S) OR RECOMMENDATIONS) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve Loan Participation Agreement between the County and Great
Western Bank, a Federal Savings Bank, and authorize the Chair to
. execute said Agreement for housing rehabilitation financial
services.
FISCAL IMPACT
This agreement involves no general funds monies.
BACKGROUND
Contra costa County has implemented a housing rehabilitation
program and seeks the finanacial participation and servicing
capabilities of Great Western Bank.
Contra Costa County has previously executed loan participation
agreements with Great Western Bank for said participation and
services.
This request being different than prior requests, in that there is
no provision for the HUD lump sum draw down. Great Western Bank is
to be commended for renewing this agreement without the benefit of
the lump sum draw down provision. They have participated with this
program since the inception in 1976/1977. Their participation has
been of great value to this program.
CONTINUED ON ATTACHMENT: YES SIGNATURE
RECOMMENDATION OF COUNTY ADMINISTRATOR
RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE (S) :
ACTION OF BOARD ONLAY 7 WjAPPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS
XUNANIMOUS (ABSENT ) IS A TRUE AND CORRECT COPY
AYES: NOES: OF AN ACTION TAKEN AND ENTERED
ABSENT: ABSTAIN ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE
SHOWN.
MAY 7 1991
cc: Community Development ATTESTED
County Administrator Phil Batchelor,
Auditor-Controller Clerk of the Board
Building Inspection Dept. of Supervisors and
Great Western Bank County Administrator
BY: DEPUTY