Memorandum
Date: April 6, 2021
To: The Honorable Bruno Sabatier, Chair, Lake County Board of Supervisors
From: Crystal Markytan, Social Services Director
Subject: Approve Updated Program Guidelines for the County of Lake Homebuyer Acquisition Assistance Program and Housing Rehabilitation Program
Executive Summary: (include fiscal and staffing impact narrative):
On May 27, 2020, the County of Lake entered into Standard Agreement 18-HOME-12585 with the Department of Housing and Community Development (HCD) for a $500,000 HOME Program Grant. On October 6, 2020, your Board approved both Intergovernmental Agency Agreements with Regional Housing Authority (RHA) to administer the County's First Time Home Buyer (FTHB) and Owner Occupied Rehabilitation (OOR) Programs utilizing the existing Program Income and new HOME Grant funds. RHA has updated the Program Guidelines for both programs, using templates provided by HCD and modifying them to meet our County's needs. These Guidelines have been approved for use by HCD and now require Board approval. With approval by your Board, the County, through RHA, can begin to use the guidelines to issue new FTHB and OOR loans.
The OOR program provides loans to low-income homeowners residing in the unincorporated areas of the county for the purpose of making repairs to their homes. The FTHB program provides loans to income-eligible homebuyers to purchase a home in the unincorporated areas of the county. A small down payment is required and the County loan must be coupled with a first mortgage. For both programs, eligible participants must be earning at or below 80% of the area median income (AMI), adjusted for family size as defined annually by HCD.
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