HomeMy WebLinkAboutAGENDA REPORT 2006 0719 CC SPC ITEM 05AITEM
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CITY OF MOORPARK, CALIFORNIA
City Council Meeting
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MOORPARK CITY COUNCIL " ""' A Ad.,'
AGENDA REPORT of: J '" `�" . A''
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To: Honorable City Council
From: Nancy Burns, Senior Management Analyst
Date: July 13, 2006 (CC Spec. Mtg. of July 19, 2006)
Subject: Consider Conducting Lottery to Determine Order in Which
First -Time Home Buyer Applications Will Be Processed
BACKGROUND
Round Two of the City's First Time Home Buyer Program will include nineteen (19)
units for very low, low and moderate income households. The completion of two (2)
designated units for First Time Home Buyers in Shea I Canterbury Lane is
anticipated soon, and seventeen (17) affordable units in William Lyon project
(Brighton) are anticipated later this year or in early 2007.
Five (5) Orientation Workshops were conducted the week of June 12 -16, 2006, to
explain the process for participating in this program. Three (3) workshops were held
in English, and two (2) were in Spanish. Participants were advised of key eligibility
requirements, such as income limits and no previous home ownership. Two
hundred ninety -nine (299) people attended the workshops and most obtained pre-
screening applications.
DISCUSSION
One hundred twenty -one (121) pre- screening applications were submitted to the City
by the June 22, 2006, deadline. Seven (7) of the applications were not processed,
as the applicants had not attended a workshop. Of the remaining applications,
thirty -one (31) were still incomplete as of July 17, 2006, and were denied.
The remaining eighty -three (83) applicants appear to be income - eligible and have
been organized into three (3) groups to give preference to those who are residents
of the City of Moorpark and those who work in the City of Moorpark and live
elsewhere.
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Honorable City Council
Meeting of 6/21/06
Page 2
Following the lottery, the first priority will be to process the Low Income applications.
The Very Low or Moderate Income applications will not be processed until qualified
buyers (and back -ups) have been identified for the two (2) Low Income units in
Shea's Canterbury Lane development. The remaining applications will be processed
(Very Low, Low, and Moderate) for the William Lyon project (Brighton).
This list will remain valid and used through July 31, 2007.
STAFF RECOMMENDATION
Conduct lottery to determine the order in which full loan applications will be
processed.
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