File #: 07-00580    Version: 1
Type: Agenda Item Status: Passed
File created: 5/25/2007 In control: BOARD OF SUPERVISORS
On agenda: 6/5/2007 Final action: 6/5/2007
Title: Consider recommendations regarding the Homebuyers Assistance Program Subordination Agreement, Fifth District, as follows: a) Authorize the Housing Director to execute the Subordination Agreement, pursuant to a $25,000 "soft second" loan awarded in 1999 under the Homebuyers Assistance Program (HAP), to Ruben and Brenda Corona (the “Borrowers") for purchase of a property located at 1034 Kingston Drive in Santa Maria; and b) Authorize the Housing Director to execute the First Amendment to Promissory Note permitting re-financing of the first mortgage to include costs associated with replacement of the roof and improvements to the kitchen of the home.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter
Title
Consider recommendations regarding the Homebuyers Assistance Program Subordination Agreement, Fifth District, as follows:
 
a) Authorize the Housing Director to execute the Subordination Agreement, pursuant to a $25,000 "soft second" loan awarded in 1999 under the Homebuyers Assistance Program (HAP), to Ruben and Brenda Corona (the "Borrowers") for purchase of a property located at 1034 Kingston Drive in Santa Maria; and
 
b) Authorize the Housing Director to execute the First Amendment to Promissory Note permitting re-financing of the first mortgage to include costs associated with replacement of the roof and improvements to the kitchen of the home.
Body
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