HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 94-05HRA RESOLUTION 94-05
RESOLUTION APPROVING INCREASING FINANCIAL ASSISTANCE TO
PARTICIPANTS IN THE FIRST TIME HOMEBUYER PROGRAM FOR REMAINDER OF
1994
WHEREAS, the Plymouth Housing and Redevelopment Authority held a properly noticed
public hearing on March 17, 1994 to determine proposals for more timely expenditure of
Community Development funds; and,
WHE1tEAS, Commissioners discussed ways to more effectively expend funds and assist more
lower income persons to become first time homebuyers; and,
WHEREAS, by increasing the amount of financial assistance to participants in the First Time
Homebuyer Program for 1994 it will permit more applicants to qualify for this Program;
NOW, THREFORE, BE IT HEREBY RESOLVED BY THE HOUSING AND
REDEVELOPMENT AUTHORITY OF THE CITY OF PLYMOUTH, MINNESOTA that the
maximum financial assistance for participants in the Plymouth Fust Time Homebuyer Program
be increased firm $15,000 to $20,000.
Further, that this increase go into effect for orient participants in the Program who have not
yet signed a purchase agreement as of this date.
Adopted by the Housing and Redevelopment Authority on Manch 17, 1994.
staffreport/res/tihbasst)
v