RESOLUTION NO. _____________

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

* * * * * *

RESOLUTION REVISING THE HOUSING ASSISTANCE MORTGAGE LOANS PROGRAM AS ESTABLISHED PURSUANT TO RESOLUTION No. 068843

______________________________________________________________

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

WHEREAS, on July 10, 2007, by Resolution No. 068843, this Board authorized the County Manager to offer mortgage loans as housing assistance incentives to certain job candidates in order to effectively compete in the labor market (the Housing Assistance mortgage Loan Program); and

WHEREAS, there is frequently a limited pool of qualified candidates for the County of San Mateo’s employment vacancies at the management level of employment, including Assistant or Deputy County Managers and Department Directors or Deputy Directors; and

WHEREAS, many especially qualified candidates for employment in senior or “hard to fill” management positions have expressed concern about accepting such employment due to the high cost of housing in the San Mateo County area; and

WHEREAS, this Board believes that the County will be better able to compete for the most qualified candidates for senior-level and other “hard to fill” management positions by revising its existing housing assistance mortgage loan program by giving candidates more time to find a home and by expanding eligibility to include homes purchased outside of the boundaries of San Mateo County; and

WHEREAS, conditioning the eligibility for a housing assistance mortgage loan for a home purchased outside of the boundaries of San Mateo County on a commitment by the employee to commute via mass transit should aid in the reduction of the carbon footprint of the County’s employees.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the County’s Housing Assistance Mortgage Loan Program as adopted by this Board on July 10, 2007, by Resolution No. 068843, is revised such that i) the condition that purchase of the home occur within one year of beginning employment with the County is replaced with the condition that such purchase occur within twenty-four (24) months of beginning employment with the County; and ii) the condition that the candidate must purchase a residence within the County, is replaced with a condition that the candidate may purchase a residence anywhere within the geographic boundaries of San Mateo County, or within a 40 mile radial distance from 400 County Center, Redwood City; provided, however, that if the residence is not within the geographic boundaries of San Mateo County, then the candidate must undertake and commit to use his/her best efforts to purchase a residence that is in reasonable proximity to mass transit and to use mass transit in commuting to his/her place of employment within the County.

* * * * * *