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"'°'council mCmoR .anbu m
city o1- san Luis of ispo,communlCy OeveLopment c~t.pa>ztmen t
DATE :
May 18, 201 0
TO :
City Counci l
VIA :
Katie Lichtig, City Manage r
FROM :
John Mandeville, Community Development Direct o
BY :
Michael Codron, Housing Programs Manage r
SUBJECT :
Grant Applications for BEGIN and First-Time Homebuyer Programs (Item C9 )
The purpose of this memo is to clarify that the proposed BEGIN and First-Time Homebuye r
Programs would both provide down payment assistance for the Moylan Terrace Project . In the
case of the BEGIN program, these funds would only be available to moderate income buyers i n
the Moylan Terrace Project, per the BEGIN program guidelines . In the case of the First-Time
Homebuyers Program, down payment assistance is not tied to a specific project by rule .
However, because the amount of down payment assistance is limited, staff expects that thes e
funds will only be effective for buyers of designated low-income units at Moylan Terrace .
RED FILE
MEETING AGENDA
DATE///k ITEM #
RECEIVE D
MAY 18 201 0
SLO CITY CLERK
Gip/='Y &1,4 «LT-COUNCIL 9'CDD DI R
BC*T`tCa'1`IN DI RL7~A£ePesrcre Et-FIRE CHIE FORNEY2-15W DI R
LJ CLERK/ORIG LPOLICE CH F0 DEBT HEADS C 1 EC DI R((~~L?1JTIL DI R1/L&1-AX C IR DI R
Veto notes --eottt .)C-a.
GtrY ,'t.62
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