HomeMy WebLinkAboutAGENDA REPORT 2004 1020 CC REG ITEM 10CMOORPARK CITY COUNCIL
AGENDA REPORT
ITEM 10-C.
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
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ACTION:,��( ,pt�
BY:_A
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To: Honorable City Council
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From: Nancy Burns, Senior Management Analyst
Date: October 7, 2004 (CC Meeting of October 2 , 2004)
Subject: Consider Co- Sponsorship of First -Time Home Buyer
Workshops
BACKGROUND
Cabrillo Economic Development Corporation (CEDC) provides First -
Time Home Buyer workshops and home ownership counseling for Low
and Very Low Income first time buyers. Completion of the HUD -
certified workshop is an advantage when applying for a real
estate loan and is required by Fannie Mae. The City has co-
sponsored these workshops in the past, to encourage the
participation of interested Moorpark residents.
DISCUSSION
Several First -Time Home Buyer workshops have been presented in
Moorpark since 1998. Typically, 25 -35 people attend each one.
Attendees who complete the workshops and are mortgage -ready
usually become homeowners. Attendees who are not mortgage -ready
at the time of the workshop are eligible to receive financial
fitness and home ownership counseling.
The low income and very low income buyers of the affordable
units in Phases II -III of the Mountain View Project in Moorpark
have already attended the required First -Time Home Buyer
Workshop, as part of their preparation to become home owners. A
First -Time Home Buyer Workshop now is being planned for
potential buyers of the market rate units.
The City has been asked to waive the fees normally charged for a
room in the Community Center on Saturday, October 30, 2004, for
Honorable City Council
Date 10/12/04
Page 2
this workshop. (See attached letter, Exhibit "A ".) The
applicable rental rate for this purpose is thirty dollars ($30)
per hour, or two hundred ten dollars ($210) for the 7 hour
workshop.
STAFF RECOMMENDATION
Approve waiver of room rental fees except any City out of pocket
costs for First -Time Home Buyer Workshop to be held October 30,
2004.
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EXHIBIT A
4*CEDC
1'i11gi71g CommunitY H(?71t,:
BOARD OF Di RFC CC RS
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?' "ICE PRESID N i
I'R)G C•1A1 )GR \9CC
October 7, 2004
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Nancy Burns"
Senior Management Analyst
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City Of Moorpark
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799 Moorpark Avenue
Moorpark, California 93021
v:Al:A SllALLE,VrERC;FR. CI' -A
Dear Nancy:
HUie1zAN RESOi!RCES
This is to request that the City of Moorpark waive its fees for the use of a facility.
CEDC will be conducted a homebuyer workshop for the prospective buyers for the
market -rate homes of CEDC s development, Mountain View Homes. CEDC
believes that it is very important to provide this service to everyone that purchases
one of our homes. Our mission is to ensure that the families are well informed and
prepare themselves to be successful homebuyers. The service is at no charge to
the participants. We anticipate approximately 15 -20 participants. The workshop is
scheduled for October 31, from 9:00 a.m. to 3:30 p.m.
Thank you in advance for your consideration. Should you have any questions,
please feel free to contact me at 6590 -6868, ext. 31.
Sincereiry,
Bertha M. Garcia
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