HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 93-29HRA RESOLUTION 93-29
RESOLUTION APPROVING CHANGES IN THE FIRST TIME HOMEBUYER PROGRAM
GUIDELINES FOR 1994
wHEREAS, the Plymouth Housing and Redevelopment Authority has developed a set of
guidelines for its First lime Homebuyer Program for 1992 and 1993; and,
VAMM EAS, it has become apparent to City staff in administering this program that certain
modifications to the First Time Homebuyer Program Guidelines for 1994 will improve and
clarify the processing of applicants for the Program;
NOW, '1HIMEFORE, BE IT HEREBY RESOLVED BY THE HOUSING AND
REDEVELOPMENT AUTHORITY OF THE CITY OF PLYMOUTH, MINNESOTA that
additions be made to the First Time Homebuyer Program Guidelines for 1994 as follows:
1. Under 7. Eligibility Requirements, add:
h. "Must be as epted by a leading institution to pnKualbfy for a specified
mortgage amount based on income, outstanding obligations and City financial
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assistance within 60 days prior to the deadline established by the City. This
determination to be done by a lending institution familiar with the program or
willing to become familiar with the program and is to be in writing to the
administrator of the program."
2. Under S. Application Process, add:
Each applicant is required to call City Hall at either 550-5056 or 550-5059 to receive
confirmation their application has been received by the City prior to the drawing. City
staff is not responsible for applications not received by the established deadline.
Applications faxed to City Hall will not be accepted."
3. Under 11. Selection, add:
The drawing will be held in the evening at City Hall at a time and date specified on
the information loner provided with the application. Persons who have applied are
welcome to attend; however, attendance is not a requirement of the program."
Adopted by the Housing and Redevelopment Authority on December 7, 1993.
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