HomeMy WebLinkAboutAGENDA REPORT 1990 0711 CC REG ITEM 11EY � Y -, '� _f.l fig- MOORPARK -
BERNARDO M. PEREZ oP yap , STEVEN KUENY
Mayor /o�`_ \ City Manager
SCOTT MONTGOMERY ORPARK, CAIIFORN f CHERYL J. KANE
Mayor Pro Tem City Co nCll Meeffng -- City Attorney
ELOISE BROWN of - PATRICK RICHARDS, A.I.C.P.
Councilmember �� 9 �0/ Director of
CLINT HARPER, Ph.D. ACTION: s Community Development
Councilmember f- R. DENNIS DELZEIT
� ��`'
PAUL W. LAWRASON, Jr. City Engineer
Councilmember By JOHN V. GILLESPIE
LILLIAN KELLERMAN Chief of Police
City Clerk RICHARD T. HARE
City Treasurer
M E M O R A N D U M
TO: The Honorable City Council
FROM: Patrick J. Richards, Director of Community Development
?I
DATE: July 6, 1990 (CC Meeting of 7- 11 -90)
SUBJECT: FIRST TIME HOME BUYER PROGRAM
On May 16, 1990, the City held a lottery to select applicants for
five homes in the Griffin Campus Hills development which were made
available to first time home buyers. The City received a total of
33 applications for the May 16 lottery. To date, we have
tentatively qualified buyers for four of the available homes. We
still need to find a buyer for the fifth home. There are no
remaining qualified buyers among the original 33 applicants.
Staff is recommending that the Council authorize the re-
advertisement of the City's First Time Home Buyer Program with
another lottery to be held on August 15, 1990. Staff would then
work with the applicants in the order selected to determine
qualification for the home loan.
Staff intends to use the original application form. Income levels
will be adjusted to be consistent with the new moderate income
limits published by the State Department of Housing and Community
Development as shown on the attachment. A new Program schedule
will also be prepared.
Griffin Homes has identified that all of the five homes will be
completed by mid - August. Therefore, prompt action is required to
ensure that a buyer is found for the fifth home as soon as
possible.
PJR /DST
799 Moorpark Avenue Moorpark, California 93021 (805) 5294864
The Honorable City Council
Meeting of 7/11/90
Page 2
Staff Recommendation
Direct staff to end the filing period on a date selected by staff,
and allow for a new drawing on August 15, 1990.
Attachment: Form 6932 - Income Limits February 1990
6932. Income Limits. February 1990
NUMBER OF PERSONS IN FAMILY
COUNTY STANDARD 1 2 3 4 5 6 7 8
TUOLUMNE Very low income 11400 13050 14650 16300 17600 18900 .20200 21500
Area median: Lower income 16450 18800 21150 23500 24950 26450 27950 29400
$29,400 Median income 20600 23500 26450 29400 31 250 33100 34900 36750
Moderate income 24700 28200 31750 35300 37500 39700 41 900 44100
VENTURA Very low income 15800 18100 20350 22600 24400 26200 28000 29850
Area median: Lower income 25000 28550 32150 35700 37950 40150 42450 44650
$45,200 Median income 31 650 36150 40700 45200 48050 50850 53700 56500
Moderate income 37950 43400 48800 54250 57650 61 000 64400 67800
YOLO Very low income 13150 15000 16850 18750 20250 21750 23250 24750
Area median: Lower income 21 000 24000 27000 30000 31 900 33750 35650 37500
$37,500 Median income 26250 30000 33750 37500 39850 42200 44550 46900
Moderate income 31 500 36000 40500 45000 47800 50650 53450 56250
YUBA Very low income 10300 11750 13250 14700 15900 17050 18250 19400
Area median: Lower income 16450 18800 21150 23500 24950 26450 27950 29400
$29,400 Median income 20600 23500 26450 29400 31 250 33100 34900 36750
Moderate income 24700 28200 31 750 35300 37500 39700 41 900 44100
Higher income limits apply to families with more than eight persons. The very low income limits for families
larger than eight persons are determined as follows: for each person in excess of eight, add eight percent of the
four - person income limit base to the eight - person limit, and round the answer to the nearest $50. For
example, the nine - person very low income limit for Alameda County is $31,500. ($22,500 x .08 = $1,800;
$29,700 + $1,800 = $31,500; $31,500 rounded = $31,500.) For the other three income groups shown,
the income limits for families larger than eight persons are determined by adding, for each person in excess
of eight, 6.25 percent of the four - person income limit to the eight - person income limit for the group, and
rounding the answer to the nearest $50.
HUD: 2/16/90
Authority: Section 50093, Health and Safety Code.
Reference: Sections 50079.5, 50093, and 50105, Health and Safety Code.
ATTACd� ENT
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