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Resolution 2024-13
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Resolution 2024-13
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Last modified
7/18/2024 1:07:42 PM
Creation date
3/27/2024 12:43:17 PM
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Template:
City Council Records
Also Known As (aka)
IGA Boulder City of__Regional Affordable Homeownership and Rental Compliance Program
Meeting Date
3/19/2024
Doc Type
Resolution
Signed Date
3/19/2024
Ord/Res - Year
2024
Ord/Res - Number
13
Document Relationships
Resolution 2024-63
(Cross-References)
Path:
\CITY COUNCIL RECORDS\TOWN SEAL (40.150)
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processing applications, properly determining eligibility, and provide record -keeping to <br />satisfy HUD requirements; <br />C. The City of Boulder will provide a main point of contact for each Service: <br />a Regional Compliance Program Manager and a Regional Homeownership Program <br />Manager; and <br />d. Additional details of the Services provided are described in Exhibit A. <br />4. Expectations to Receive Services Provided. <br />a. The City of Louisville will abide by the current policies and procedures of <br />the Program as established and amended by the City of Boulder, in cooperation with the <br />City of Louisville, as described in Exhibit A. <br />b. The City of Louisville will use the current City of Boulder restricted <br />covenants as template language to ensure consistency of Program administration. The <br />current covenant templates are summarized in Exhibit B (Homeownership) and Exhibit <br />C (Rental). Using a different covenant may be grounds to terminate the agreement by the <br />City of Boulder. If amendment of the covenant template(s) is required to comply with the <br />City of Louisville's local law, the City of Louisville and the City of Boulder agree to <br />work in good faith to amend the template(s) for that City of Louisville. A Jurisdiction - <br />specific template(s) shall be reviewed and approved by both the City of Boulder and that <br />City of Louisville prior to implementation. <br />C. The City of Louisville agrees to abide by all applicable existing policies <br />and procedures (as described in Exhibit A) related to Program compliance. Advising on <br />future changes to policies and procedures will be the responsibility of the Policy <br />Advisory Committee, as described in Section 4.d. below. <br />d. The City of Louisville will identify a point of contact to coordinate all <br />activities related to the administration of the Program. In addition, the City of Louisville <br />will appoint one member to provide an advisory role of Program activity in their <br />community and along with members from other jurisdictions accepting similar services <br />from the City of Boulder will be known as the Policy Advisory Committee. This Policy <br />Advisory Committee will meet, at a minimum, twice annually to review data and <br />recommend adjustments to the Program as needed. <br />5. Funding. <br />a. Boulder County American Rescue Plan Act (ARPA) funds of <br />approximately $1,259,549 will be utilized by the City of Boulder for years one and two <br />of the Program to pay for staff, database modifications and licenses, and to create a <br />revolving loan fund to be used for foreclosure prevention. <br />
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