RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE CITY OF EAST PALO ALTO FOR THE COMPREHENSIVE HOMEBUYER ASSISTANCE MORTGAGE PROGRAM (CHAMP)

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, pursuant to the National Affordable Housing Act of 1990, Public Law 101-625, enacted November 28, 1990, federal funds through the HOME Investment Partnership Act may be used to assist eligible housing development activities; and

WHEREAS, the City of East Palo Alto applied for CDBG funding assistance and was awarded by the County of San Mateo, funds in the amount of $126,300, for its Comprehensive Homebuyer Assistance Mortgage Program (CHAMP) to provide down payment assistance loans to low income, first-time homebuyers; and

WHEREAS, on May 22, 2001, the Board of Supervisors approved the HOME funding for FY 2001-02 which included funding for this project; and

WHEREAS, County wishes to enter into an Agreement with the City of East Palo to provide down payment assistance loans to low income, first-time homebuyers; and

WHEREAS, this Board of Supervisors has been presented for its consideration and acceptance, an Agreement between the County of San Mateo and the City of East Palo Alto, reference to which is hereby made for further particulars, and the Board of Supervisors has examined and approved the same as to form and content and desires to enter into the same.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors be, and is hereby authorized and directed to execute said Agreement for and on behalf of the County of San Mateo, and the Clerk of this Board shall attest the President's signature thereto.

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