City Council

7.e. CONSIDERATION AND APPROVAL OF RESOLUTION NO. 25-024,\nAUTHORIZING THE FILING OF AN APPLICATION TO THE STATE OF\nCALIFORNIA HOUSING AND COMMUNITY DEVELOPMENT\nDEPARTMENT (HCD) FOR THE CALHOME PROGRAM TO HELP\nOWNER OCCUPIED OWNERS WITH HOME REPAIRS AND THE FIRST-\nTIME HOMEBUYER PROGRAM\nThe City of South El Monte seeks City Council approval to apply for\n$2,525,000 in CalHome Program funding from the California Department\nof Housing and Community Development (HCD). These funds will be used\nto administer the Owner-Occupied Rehabilitation Program and First-Time\nHomebuyer Program, which provide financial assistance to eligible low-\nand very low-income households through deferred payment loans and\nmortgage assistance. The City has already secured a consultant to\nadminister the programs and will utilize these funds to support program\nimplementation.\nRECOMMENDED ACTION: Staff recommends City Council adopt\nResolution No. 25-024, authorizing the City Manager or designee to apply\nfor CalHome Grant funding in the amount of $2,525,000 to assist\nhomeowners with rehabilitation and first-time homebuyer down payment\nassistance. If awarded, the City Manager or designee will be authorized to\nexecute all necessary agreements, subject to City Attorney approval.