AGENDA MEMORANDUM

Meeting Date: July 28, 2008

From:                          Kenneth L. Thomas, Director of Housing & Economic Development          

Subject:                      Resolution authorizing an Interlocal Agreement with Lake County Community Services Department, Housing Services & Community Development

Staff Recommendation:

Staff recommends the City Commission approve the inter-local agreement with Lake County for home buying services.

Analysis:

The City of Leesburg has been operating a First-Time Homebuyer’s program since 2002.  The City of Leesburg formed a partnership with Lake County to help potential homebuyers complete down-payment assistance applications, for the purpose of purchasing a single-family home, condominium, or townhome. 

Lake County is now instituting a new Homebuying Program and each partnering agency such as Habitat for Humanity, Affordable Housing by Lake, Homes in Partnership, and the City of Leesburg, has been asked to endorse the new program services.  Staff agrees with Lake County’s new program service and the mandates that all applicants will be prescreened before attending homebuying classes to ensure applicants are mortgage ready.  The partnering agencies will also be responsible for providing additional services.  Staff has formed a partnership with the University of Florida and the Lake County Extension Center to provide Home Maintenance classes.

The Homebuying Services that will be provided, based on the interlocal agreement are as follows:

1. Homebuying Education Workshops
2. Prescreening Potential Applicants
3. Preparing & Submitting Down-Payment Assistance Applications (S.H.I.P.)

Benefit of the Agreement:

1. Lake County pays the City of Leesburg $1,000 for each successful closing.
2. Staff estimates three closings per month, which will generate $3,000 in revenue to the City.

Options:

1.  Approve the interlocal agreement with Lake County for Homebuying Services, or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

Additional revenue from this activity is projected to be $36,000.00 per year.  Approximately $400 per year will be used to provide workshop materials for applicants.

Submission Date and Time:    7/25/2008 3:47 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. _______JB_________                                    Deputy C.M. _______EFS________                                          Submitted by: City Manager ___________________

Account No. _001-6254-554-5210__ Project No. ___________________ WF No. ______________________ Budget  _______$3,879_________ Available ______$__844_________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE APPROVAL OF THE INTERLOCAL AGREEMENT FOR HOMEBUYING SERVICES BETWEEN THE CITY OF LEESBURG AND THE LAKE COUNTY COMMUNITY SERVICES, HOUSING & COMMUNITY DEVELOPMENT, TO PROVIDE HOMEBUYING SERVICES.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with Lake County Community Services, Housing & Community Development whose address is P.O. Box 7800 Tavares, Florida 32778-7800, for Homebuying Services.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the __28th___ day of _July___ 2008.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk