HomeMy WebLinkAbout011696-rda_CCv0001.pdf MINUTES nforegular meeting ofthe Board ofDirectors ofthe RedevelopmentAgency of
the City OfRedlands held iDthe City Council Chambers, Civic Center, 35Cajon
Street, at 3:58 P.M. on January 16, 1996.
PRESENT 8vvenLarson, Chairman
Pat Gilbreath, Vice Chairman
William E. Cunningham, Member
Gilberto Gi|, Member
GeniA. 8. Banda, Member
Gary M. Luebbern. Executive Director
Daniel J. McHugh, Agency Attorney
LorriePoyzer. Agency Secretary
John Andrews, Redlands Daily Facts
Su|ipoaLuque, The Sun
ABSENT Nona
The minutes of the regular meeting of January 2. 1998, were unanimously
approved 8Ssubmitted ODmotion OfMrs. Gilbreath, seconded byMr. Gil.
NEW BUSINESS
Agreement - First Time Home Buyers Program - At the November 21, 1805,
meeting. the Agency Board authorized staff to prepare an agreement with
Neighborhood Housing Services for the development, iDlp|O[n8Ot@dOn, and
administration of u First Time Home Buyers Program in the City of Redlands.
Administrative Services [)i[g[tO[ K48 'i8 Pettus explained hOvv this pr0g[@0D will
be implemented and noted that the proposed ognamrnent contains two
provisions aadirected by the Agency Board: that the program target low and
moderate income persons and a Redlands' residency requirement of one year.
She further explained that the silent second |OGD amount will not exceed ten
percent of the |Ot8| pUrCh3S8 price of the dwelling Or $15'000.00 whichever is
|BSS. The silent second funds will bOC0008 due and payable upon: pnOp8dw
tnGnSf8r. conversion to 8 rental property, Or 8 nBDn8nC8 with C8Sh OUL If the
t@Dli|y stays in the hO[D8 for 30 ye@[S. the |O8D is forgiven. TO qualify, the
potential buyer must also fall within the program's income guidelines, beufirst-
time hO0O bUy8[. perform 50 to 180 hOUnS of community service to the City Of
Rod|onde, attend an educational vvnrknhop, and provide three percent of the
dOVVD payment. Neighborhood Housing Services will 'OiDdy develop @
marketing program with the Agency. They will also develop relationships with
|OCG| |8Dd8FS in addition to the @CLiVe [Dg0b8nS Of the |eDd8[S committee.
CurrenUy, F|nd|onda Federal is on the lenders committee along with Bank of
America and Downey Savings. The program will operate under the direction Of
the Agency, and all |non approvals will be presented tothe Agency Board for
final @ppn3V@| and GUthOriz8U0D Of funding. Mr. Cunningham urged staff to
focus on low-income persons. Mr. Gil moved to approve the agreement
between the Redevelopment Agency and Neighborhood Housing Services to
Redevelopment Agency
January 16. 190G
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administer First Time Home Buyers Program in the City of Redlands and
authorize the Chairman of the Board to execute the documents. Motion
seconded bvMr. Cunningham and carried unanimously.
ADJOURNMENT
Thane being no further business, the Board of Directors' meeting of the
Redevelopment Agency @diOu[D8d at 4:00 P.M. The D8/t regular meeting will
be held on February 6, 1998.
Secretary
Redevelopment Agency
January 16. 190S
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