HomeMy WebLinkAboutItem 8.1 TriVlyAffordHousClearH CITY CLERK
File# 430-80
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: September 23, 2002
SUBJECT: Tri-Valley Affordable Homebuyer Clearinghouse Proposal
Report Prepared By: Julia Abdala, Housing Specialist
RECOMMENDATION: ~ Staff recommends that the City Council receive this report and
//~t~t~-~support the effort to create an Affordable Homebuyer Clearinghouse
~ for the Tri-Valley Region.
FINANCIAL STATEMENT: .There is no financial impact. All funding for the project for the first
three years will come from $450,000 federal money dedicated to this
project. The subsequent funding is anticipated to come from future
grants.
DESCRIPTION:
In order to coordinate affordable housing efforts and work cooperatively toward meeting the community's
- need for affordable housing in the region, the Tri-Valley Affordable Housing Committee (which consists
of: Dublin, Livermore, Ple~tsanton, San Ramon, Danville, Alameda County, and Contra Costa County) is
endeavoring to coordinate all existing affordable homebuyer programs and develop furore housing
programs by creating a Homebuyer Clearinghouse for the Tri-Valley region. In conjunction with
Congresswoman Helen Tauscher's office, the Tri-Valley Affordable Housing Committee is developing
the framework for Federal funding that will be requested to be included in the Congressional budget for
the 2003 fiscal year.
Congresswoman Ellen Tauscher has' indicated support of a joint effort by the Tri-Valley region that would
assist lower income families and individuals in purchasing homes. Congresswoman Tauscher has
indicated a willingness to request $450,000 in funding to pay for the first three years of an Affordable
Homebuyer Clearinghouse for the TriValley.
The Clearinghouse would serve the following functions:
1. A "one-stop" center for interested homebuyers. It would be intended to provide multiple services
in assisting lower-income homebuyers. The Clearinghouse would have the inventory of all
existing programs for the Tri-Valley region and would be able to better direct the interested home
seeker to the appropriate programs.
2. The Clearinghouse would assist potential homebuyers with the program of their choice and
purchasing application process.
3. When applicable, the Clearinghouse would be responsible for the buyer selection for restricted
units such as Inclusionary Units.
COPIES TO:
G:Vtgendas~2002\CC Staff Report Clearinghouse Concept II.DOC ~k~ ~
ITEM NO'O' J. -
4. The Clearinghouse would provide the classes need to comply with the education component
needed in many First Time Homebuyer Programs.
5. Resale of units would be coordinated through the Clearinghouse. Acceptable resale price, based on
regulations of the various jurisdictional programs would be the Clearinghouse's responsibility as
would maintaining information on interested and eligible homebuyers.
6. The Clearinghouse would also research and apply for additional homebuyer programs that would
be beneficial to the Tri-Valley Region.
The Cities and Counties involved would know by the time of the adoption of the federal budget if these
funds were committed for the Clearinghouse. If successful, the funding would be available with the new
Federal fiscal year (October 2002). The money is intended to start up the Clearinghouse and provide
funding for the first three years. After that time, it is anticipated that the Executive Director of the
Clearinghouse would be responsible for obtaining continued funding through various grants.
RECOMMENDATION:
Staff recommends that the City Council receive this report and support the effort to create a Homebuyer
Clearinghouse for the Tri-Valley Region.
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