SUBJECT: Adoption of a Resolution Authorizing the Submittal of a Joint Application and Participation in the State of California Housing and Community Development (HCD) Homekey Program: Authorizing the Finance Officer to Make Necessary Budget Amendments to Implement the Homekey Program; and Authorizing the Finance Officer to use Pooled Cash if Necessary Pending Reimbursements from the Homekey Program REPORT IN BRIEF Authorizes the submittal of a Joint Application and Participation in the State of California Department of Housing and Community Development Department (HCD) Homekey; authorizing the City Manager or Deputy City Manager to execute the Standard Agreement if selected for such funding any amendments thereto, and any related documents to participate in the Homekey Program; authorizing the Finance Officer to make any Budget Amendments necessary for the implementation of the use of the Homekey Program Funds; and authorizing the Finance Officer to use Pooled Cash if necessary, pending reimbursements from the Homekey Program. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2021-109, a Resolution of the City Council of the City of Merced, California, authorizing a joint application and participation in the Homekey Program; the execution of a standard agreement if selected for such funding and any amendments thereto; and any related documents necessary to participate in the Homekey Program; and, B. Authorizing the City Manager or Deputy City Manager to execute the Standard Agreement if selected for such funding and any amendments thereto, and any related documents necessary to participate in the Homekey Program; and, C. Authorizing the Finance Officer to make any Budget Amendments necessary for the implementation of the use of the Homekey Program; and, D. Authorizing the use of pooled cash until reimbursement if grant is awarded from the Homekey Program.

Consent Item Passed Introduced October 28, 2021

Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: October 28, 2021
On agenda: December 20, 2021
Passed: December 20, 2021