HomeMy WebLinkAboutResolution 2005-213 N.C.S. 12/05/2005 Resolution No. 2005-213 N.C.S.
of the City of Petaluma, California
RESOLUTION APPROVING MODIFICATIONS TO THE CITY OF PETALUMA'S
HOMEBUYER PROGRAMS POLICIES AND PROCEDURES
WHEREAS the City of Petaluma administers a homebuyer program to assist low and moderate
income households in achieving the American Dream of homeownership; and
WHEREAS the City Council has, over the years, set forth informal policies regarding the
homebuyer program including: (1) sales only to first time homebuyers; (2) qualifying income
restricted to 100% of area median income; and (3) sales to people who currently live/work in
Petaluma; and
WHEREAS changes in these policies are being recommended due to changing circumstances in
the real estate market:
NOW THEREFORE BE IT RESOLVED that the following modifications be instituted in the
homebuyer program:
1. Sales to non-first time homebuyers will be allowed on a limited basis; primarily for
persons who work for the City of Petaluma but currently own a house out-of--town;
2. Sales to households earning up to 120% of Area Median Income;
3. Preference to City employees which will include special marketing techniques for public
safety employees.
Under the power and authority conferred upon this Council by the Charter of said City.
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REFERENCE: [hereby certify the foregoing Resolution was introduced and adopted by the 'Approvrve a
Council of the City of Petaluma at a Regular meeting on the 5`h day of December, r'
2005, by the following vote:
City Attorney
AYES: Canevaro, Mayor Glass, Vice Mayor Harris, Healy, Nau, O'Brien, Torliatt
NOES: None
ABSENT: None
ABSTAIN: None
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ATTEST: U
City Clerk Mayor
Resolution No. 2005-213 N.C.S. Page 1