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R07-049 II 1 RESOLUTION R07- 0'19 2 3 A RESOLUTION OF THE CITY OF BOYNTON 4 BEACH, FLORIDA, APPROVING THE CHANGES 5 TO THE CITY OF BOYNTON BEACH'S 6 HURRICANE HOUSING RECOVERY PROGRAM'S 7 HURRICANE HOUSING ASSISTANCE PLAN 8 (HHAP) TO ADD GAP FINANCING STRATEGY; 9 AND PROVIDING AN EFFECTIVE DATE. 10 11 12 WHEREAS, as a result of the City's 2006/07 SHIP allocation having been 13 expended and otherwise encumbered, staffhas found it necessary to resort to funding from 14 the Hurricane Housing Recovery Program which is another source of SHIP funds that was 15 allocated in 2005; and 16 WHEREAS, Staff has found it necessary to add GAP financing as a strategy in an 17 effort to assist more first time homebuyers as no other SHIP funds will be available until 18 July; and 19 WHEREAS, upon the recommendation of staff, the City Commission deems it to 20 be in the best interests, safety and welfare of the citizens and residents of the City of 21 Boynton Beach to approve the changes to the City of Boynton Beach's Hurricane Housing 22 Recovery Program's Hurricane Housing Assistance Plan (HHAP). 23 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION 24 OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT: 25 Section 1. The foregoing "Whereas" clauses are true and correct and are 26 hereby ratified and confirmed by the City Commission. 27 Section 2. The City Commission of the City of Boynton Beach, Florida, 28 hereby approve the changes to the City of Boynton Beach's Hurricane Housing Recovery S:\CA \RESO\Hurricane Housing Assistance Plan ( GAP).doc II Program's Hurricane Housing Assistance Plan (HHAP), namely adding GAP financing 2 strategy in an effort to further assist eligible very low, low and moderate income 3 applicants to purchase homes within the City of Boynton Beach. 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Section 3. This Resolution shall become effective immediately upon passage. PASSED AND ADOPTED this --L day of May, 2007. ATTEST: --r-~/~~'- '.-/,...~ .__....._"H ..._ S:\CA\RESO\Hurricane Housing Assistance Plan (GAP).doc II