Title
RESOLUTION APPROVING DELEGATION AND PARTICIPATION AGREEMENT BETWEEN THE CITY OF COMMERCE CITY AND THE CITY AND COUNTY OF DENVER
Body
Summary and Background Information:
The City and County of Denver developed the Metro Mortgage Assistance Plus Program which provides a competitive, 30-year fixed-rate mortgage down payment assistance (DPA) grant equal to 4% of the mortgage amount to qualifying low and moderate income homebuyer families throughout the City and County of Denver and in certain surrounding communities that choose to participate. Many metro-area cities and counties are participating, and Commerce City staff has received inquiries from community members about the City's possible participation in this program.
Staff Responsible (Department Head): Chris Cramer, Community Development Director
Staff Member Presenting: Chris Cramer and Priscilla Mancosky
Outside Presenters: Beth Truby,Neighborhood Development Programs Manager Office of Economic Development City and County of Denver
Financial Impact: N/A
Funding Source: N/A
Staff Recommendation:
Approve the Resolution to Participate and Sign the Agreement.
Alternative:
Not participate in the program.