HomeMy WebLinkAbout~Master - Revisions to Ames/Story County Partnership Affordable Housing Program RESOLUTION NO. 00-060
RESOLUTION APPROVING REVISIONS TO THE
AMES/STORY COUNTY PARTNERSHIP
AFFORDABLE HOUSING PROGRAM
FOR THE CITY OF AMES,IOWA
WHEREAS,as part of the LHAP grant agreement in connection with the Ames/Story County
Partnership Affordable Housing Program, program guidelines and agreements between the
participating cities and lenders with the City of Ames were submitted to IDED for their review and
approval; and,
WHEREAS, staff has been working very closely with the participating cities and lenders to
develop a competitive Affordable Housing Program that will assist as many homebuyers as possible
at various income levels, not exceeding 110% of the Story County median income; and,
WHEREAS,in recapping the first six months of the Program,the Partnership Committee is
recommending that some amendments be made to the Program Guidelines specifically under the
Down Payment and Closing Cost Assistance program,the Financial Underwriting Criteria,and the
In-Fill Financing Construction Program Guidelines.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames,Iowa,
that the revisions to the Down Payment and Closing Cost program guidelines, the Financial
Underwriting Criteria,and the In-fill Construction Financing program guidelines,in connection with
the Ames/Story County Partnership Affordable Housing Program, are hereby approved.
ADOPTED THIS 22nd day of February, 2000.
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Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Goodhue
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach
Voting nay: None Absent: Wirth
Resolution declared adopted and signed by the Mayor this 22nd day of February, 2000.