City of Racine - File #: 05-1338

• File #: 05-1338
• Version: A
• Name: Expand area eligible for the Homeowner Down Payment program
• Type: Communication
• Status: Passed
• File created: 12/19/2005
• In control: City Development Department
• Final action: 2/7/2006
• Title: Subject: Communication from the Director of City Development requesting to expand the area eligible for the Homeowner Down Payment Program. Recommendation: That the target area for the Homebuyer Down Payment Assistance Program be expanded to include: Census Tract 8, Block Group 1; Census Tract 12.02, Block Groups 3 and 5; and Census Tract 13.02, Block Groups 2,3,4, and 5. That the maximum loan amount be capped at $5,00 or 7 1/2 percent of purchase price, whichever is less. Fiscal Note: This program is funded by an allocation of federal HOME Housing Investment Partnership grant funds.

Date	Ver.	Action By	Action	Result
2/7/2006	A	Common Council	Adopted	Pass

Title

Subject:  Communication from the Director of City Development requesting to expand the area eligible for the Homeowner Down Payment Program.

Recommendation: That the target area for the Homebuyer Down Payment Assistance Program be expanded to include: Census Tract 8, Block Group 1; Census Tract 12.02, Block Groups 3 and 5; and Census Tract 13.02, Block Groups 2,3,4, and 5.

That the maximum loan amount be capped at $5,00 or 7 1/2 percent of purchase price, whichever is less.

Fiscal Note: This program is funded by an allocation of federal HOME Housing Investment Partnership grant funds.