HomeMy WebLinkAboutMINUTES - 06101997 - C18 TO: BOARD OF SUPERVISORS
FROM: Harvey E. Bragdon
Director of Community Development
DATE: June 10, 1997
SUBJECT: National Homeownership Week
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
RECOGNIZE National Homeownership Week and Contra Costa County's support of expanded
homeownership opportunities for Contra Costa residents and employees.
FISCAL IMPACT
No funds are involved.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
_RECOMMENDATION OF COUNTY ADMINISTRATOR_RECOE ATION OARD COMM Yf TEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON June 10, 1997 APPROVEDAS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE AND
X UNANIMOUS (ABSENT ) CORRECT COPY OF AN ACTION TAKEN AND
AYES: NOES: ENTERED ON THE MINUTES OF THE BOARD OF
ABSENT: ABSTAIN: SUPERVISORS ON THE DATE SHOWN.
Contact: Kathleen Hamm, 335-1257 ATTESTED June 10, 1997
cc: County Administrator PHIL BATCHELOR, CLERK OF
County Counsel THE BOARD OF SUPERVISORS
Community Development AND COUNTY ADMINISTRATOR
BYy • ,DEPUTY
BACKGROUND/REASONS FOR RECOMMENDATIONS
June 7 through June 14, 1997 marks National Homeownership Week, a campaign to emphasize both locally and at the
national level efforts to increase homeownership opportunities and build communities. National Homeownership Week
is sponsored by the National Partners in Homeownership which includes the American Bankers Association, Association
of Local Housing Finance Agencies,Federal Home Loan Bank,National Association of Counties, National Association
of Home Builders, U.S. Conference of Mayors, and the U.S. Department of Housing and Urban Development.
In order to provide homeownership opportunities to lower-income households who lack adequate resources to purchase
housing in Contra Costa County,the County has worked with local jurisdictions,the financial community, and non-profit
and for-profit affordable housing developers to: reduce housing acquisition prices to below market levels by lowering
site acquisition and unit construction costs; increase affordability of units through downpayment assistance and
subsidized mortgage programs; and increase credit availability through homebuyer counseling and credit assistance
programs for lower-income households.
Affordable homeownership projects currently supported by the County using a combination of Community Development
Block Grant(CDBG),HOME Investment Partnership Act (HOME) and Contra Costa County Redevelopment Agency
funds are described below.
C Parkway Estates -New construction of 87 single family homes in the County Redevelopment Project Area o
North Richmond. County funds were provided for site acquisition and construction costs, and will be rolled
over into deferred second mortgages to enable 25 lower-income households to acquire homes. Project sponsors:
Community Housing Development Corporation of North Richmond and Oakland Community Housing,
Incorporated.
• Rivertown Court -New construction of 16 single family homes in the City of Antioch. County funds will be
used for site acquisition and rolled over into deferred second mortgages to enable 11 lower-income households
to acquire the homes. Project sponsor: Community Housing Opportunities Corporation.
• Harmony Homes-New construction of 31 single family homes in a redevelopment area in the City of Pittsburg,
using donated labor and materials and sweat equity. All homes will be sold, at affordable prices, to lower-
income households. County funds will be used for infrastructure development and rolled over into deferred first
mortgages for lower-income households. Project sponsor: Mt. Diablo Habitat for Humanity.
• Lonetree Way-New construction of 65 single family homes in the City of Brentwood, using sweat equity. All
homes will be sold, at affordable prices, to lower-income households. County funds will be used for site
acquisition and rolled over into deferred second mortgages for 32 low-income households. Project sponsor:
Rural California Housing Corporation.
• First-Time Homebuyer Program -Provision of deferred second mortgage loans to an estimated 40-50 lower-
income first-time homebuyers for the acquisition and rehabilitation of homes in the County Redevelopment
Project Areas of Bay Point and North Richmond. Project sponsor: Contra Costa County Redevelopment
Agency.
• Mortgage Credit Certificate (MCC) Program - Dependent upon the County's ability to obtain Mortgage
Revenue Bond Authority through the California Debt Limit Allocation Committee, the MCC program provides
low and moderate-income households with certificates which provide tax credits equal to 20 percent o
mortgage interest paid. In 1997, this program is expected to assist 60 households. Project sponsor: Community
Development Department.
The County also supports three programs which provide prepurchase counseling to prospective homebuyers and/or
direct mortgage/homeownership assistance to homeowners at risk of homelessness (project sponsors are Community
Housing Development Corporation of North Richmond, Pacific Community Services, Inc. and Shelter, Inc.) and three
which increase affordable housing opportunities by identifying and addressing discriminatory practices, including
discrimination in the for-sale market(projects sponsors are Pacific Community Services, Inc., Shelter, Inc., and Contra
Costa Legal Services Foundation).
EG-c:data\...HOWK.wpd