R-02-03-26-9D1 - 3/26/2002RESOLUTION NO. R- 02- 03- 26 -9D1
WHEREAS, the City of Round Rock Home Ownership Assistance Program
(HOAP) is funded by Community Development Block Grant funds, and
provides qualified, first time homebuyers with non - interest bearing
loans for down payment and /or closing costs, and
WHEREAS, the City Council wishes to accept and approve the
eligibility guidelines established by the Department of Housing and
Urban Development, specifically the family income limits and Section 8
fair market rates established on January 31, 2002, and as they may
hereafter be amended, in the implementation and operation of the HOAP.
Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the City Council hereby agrees and approves the adoption of
HUD eligibility guidelines established by the Department of Housing and
Urban Development, specifically the family income limits and Section 8
fair market rates established on January 31, 2002, and as they may
hereafter be amended by HUD, in the implementation and operation of
the City of Round Rock Home Ownership Assistance Program.
The City Council hereby finds and declares that written notice of
the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted
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upon, all as required by the Open Meetings Act, Chapter 551, Texas
Government Code, as amended.
RESOLVED this 26th day of March, 2002.
ATTEST:
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CHRISTINE R. MARTINEZ, City Secretary
2
City of Round Rock, Texas
DATE: March 20, 2002
SUBJECT: City Council Meeting — March 26, 2002
ITEM: 9.D.1. Consider a resolution to increase the family income limits in the City
of Round Rock Home Ownership Assistance Program (HOAP)
application packet.
Resource: Joe Vining, Planning Director
Mona Ryan, Community Development Coordinator
History: The family income limits for federally funded programs are updated annually. The
application packet for the Home Ownership Assistance Program must include the
current income limits.
Funding:
Cost: N/A
Source of Funds: N/A
Outside Resources: The Department of Housing and Urban Development
Impact: Income limits have increased approximately $2000 at each level.
Benefit: More families will be able to qualify for the down payment assistance program.
Public Comment: N/A
Sponsor: Planning and Community Development Department