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Home My WebLink About92-0212 RESOLUTION AUTHORIZING EXECUTION OF A PURCHASE OF SERVICE AGREEMENT WITH NEIGHBORHOOD HOUSING SERVICES OF ELGIN BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that George VanDeVoorde, Mayor, and Dolonna Mecum, City Clerk, be and are hereby authorized and directed to execute a Purchase of Service Agreement on behalf of the City of Elgin with Neighborhood Housing Services of Elgin to provide loan assistance to first time home buyers in the NHS service area, a copy of which is attached hereto and made a part hereof by reference. s/ George VanDeVoorde George VanDeVoorde, Mayor Presented: February 12, 1992 Adopted: February 12, 1992 Omnibus Vote: Yeas 7 Nays 0 Recorded: Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk - 1 PURCHASE OF SERVICE AGREEMENT CITY OF ELGIN, ILLINOIS/NEIGHBORHOOD HOUSING SERVICES This agreement is made this /3 day of ��,. , l99 , by and between Neighborhood Housing Services of Elgin, a not for profit corporation, hereinafter referred to as "NHS, " and the City of Elgin, Illinois, a municipal corporation hereinafter referred to as "City. " WHEREAS, the City desires to assist in a program to provide financial assistance to first time home buyers in the NHS service area. WHEREAS, NHS is an organization which provides housing, financing and property rehabilitation information, provides programs to property owners and residents, assists home owners in obtaining financing and provides direct financial assistance to property owners from its office located at 205 North Gifford Street, Elgin, Illinois. It is hereby agreed: 1. The NHS will provide financial assistance to first time home buyers for residential property located within the NHS service area (Exhibit A) under a Home Ownership Program (HOP) . 2. The NHS shall operate the Home Ownership Program according to the guidelines adopted on December 12 , 1991 (Exhibit B) . 3 . In consideration for NHS providing such services the City shall provide funds to NHS in the amount of $30,000 for the express purpose of providing financial assistance to low and moderate income first time homebuyers. 4 . The City will distribute said funds to NHS upon execution of this agreement. 5 . NHS will provide the City with a status report on the Home Ownership Program for each six (6.) months of the Home Ownership Program operation. At a minimum, the report shall contain the loan date, loan amount, property address, number of dwelling units and income definition (low income or moderate income) . Each report shall be due within 30 days of the end of the six month period. 6 . The NHS shall be required to return any unused, funds in the event that there is a determination by the City Manager that NHS is not providing the services described in this agreement. In witness whereof, the parties hereto have caused this agreement to be executed on the above written date. NEIGHBORHOOD OUSING SERVICES BY .crf/ /-23-9e= President CITY OF ELGIN, a municipal corporation By 4t. ,4=?/,;„,g, Mayor George Van De Voorde A• ' 40 0 A W V w 40 AYE Villatilt le Iii 6A SI a ALFA 0 F"%CS 5 E� W. LoYE it 1 *olli 11 p SEapa1SE 000. ✓ '<< E� - t 5 1 • '*.pKl� CARL I.NO IOW � 4 ..�i•_�� 0 011 Ate• s � '` rid� C�"'�\Iglitt 0 otO .. 13 At r ' i-^ 000 glWawdaviaiPm Awe-9-'11j ' ,,act. 010,:t•Ig.eLtilkil. 'LE • • . • *_•.,`ia . 5r).:C•‘.ZA ' .••• r.4101.."1011111111M 0 100°1 Pt- 1011111p\ ft 01""4 4.0%,,\-1;"•P' e '.7):8 -• /yr. 0005374...\\ L, ,•• • . 1111111 / , I0 0111§C. ,"Yr.,I%,„1/44$,L,*.)147% 0 tt..6 105 la: . �t 011ogia 'I ' / .1 i CT + e at TA' r ; .� *la 'Waif ES , R os r";t ai t o f paE c ' •,u r•IMF ♦ ` t A �.1 f jog -_ IE,� 6A 1. 0. • olY iS ,'��r liveta p 1 Q. • 1 11• .0- -,-- J\ ...\ aej 1` ; 7M, ' .. t fittk 4/ iS Y E� t.k ' �o �1 i/� a u W' I • a+° W J 1 •o. 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INCORPORATED. approve the following guidelines with respect to the Home Ownership Program: Grants shall be made under the following conditions: Buyers who have not owned improved residential property for at least 36 months prior to application for assistance under the Home Ownership . Program loan; Loans shall be limited to properties that are single family or two family residential structures; Loans shall be restricted to low and moderate income households as • defined by the U.S. Department of MUD; Loans shall be made to owner occupied properties; • Loans shall not exceed $5.000 to any single household; , NHS will provide reports as requested by the City. of Elgin for each six (6) month period of operation and said reports are due within 30 days of the end_of the reporting period. BE IT ALSO RESOLVED THAT Edward Schock; President be and is hereoy authorized ano directed to execute a Purchase of Service Agreement which contains but is • not limited to the above referenced guidelines and conditions. award Schock • Presented: December 12. 1991 ,AtAest: . . - I Na 4394$n vc ' sr ls t , J Dense Harding-Nook ' Z, ,:� k/ Z 10 t ' d EXHIBIT w • ,I+i - r Elm �� O A enda Item No. _rb. o January. 14 , 1992 MEMORANDUM TO: Mayor and Members of the City Council FROM: Larry L. Rice, City Manager SUBJECT: Purchase of Service Agreement - Neighborhood Housing Services Purpose: To consider a Purchase of Service Agreement with the Neighborhood Housing Services organization. Background: As part of the Community Development Block Grant hearing process the allocation of General Fund dollars to certain organizations was considered and approved by the City Council. The Neighborhood Housing Services organization was allocated $ 30,000. in funding to provide loans to assist first time home buyers in the purchase of residential property in the NHS service area. The attached Purchase of Service Agreement provides for a lump sum payment to NHS of $30,000. Financial Impact: The $30,000 allocation was made from a total of available General Fund dollars of $560,000. Therefore sufficient funds exist in the budget for this activity. Recommendation: It is recommended that the City Council approve the attached Purchase of Service Agreement. A copy has been forwarded to the Neighborhood Housing Services organization. If approved a resolution will be prepared for action at the next City Council meetin. . in • Ar1111 La' s. Rice, City Manager r PURCHASE OF SERVICE AGREEMENT CITY OF ELGIN, ILLINOIS/NEIGHBORHOOD HOUSING SERVICES This agreement is made this day of , 19 , by and between Neighborhood Housing Services of Elgin, a not for profit corporation, hereinafter referred to as "NHS, " and the City of Elgin, Illinois, a municipal corporation hereinafter referred to as "City. " WHEREAS, the City desires to assist in a program to provide financial assistance to first time home buyers in the NHS service area. WHEREAS, NHS is an organization which provides housing, 47) financing and property rehabilitation information, provides programs to property owners and residents, assists home owners in obtaining financing and provides direct financial assistance to property owners from its office located at 205 North Gifford Street, Elgin, Illinois. It is hereby agreed: 1. The NHS will provide financial assistance to first time home buyers for residential property located within the NHS service area (Exhibit A) under a Home Ownership Program (HOP) . 2. The NHS shall operate the Home Ownership Program according to the guidelines adopted on December 12, 1991 (Exhibit B) . 3 . In consideration for NHS providing such services the City shall provide funds to NHS in the amount of $30 ,000 for the express -• a < 40 'o AYE I � . u t• . A w x > ST { • AYE v LOPE L s • S7 all � row EfFERSOK 6 PS • JULIA t►,t IAL&OA MEV JEFFERWIN WM NM A MOM ) — NE.A.,.. INN z ...mrial „v I+t AYE..,...........„.... . • ..,. .......__, , ...„... 58 - wag T u ST � , GRAND _ y f11ARL K . iie.eit 1i! 1.1.:?.;:dob c, v ill es V .4110.-1 lahligilial , 2 r, III .T Act;mow . 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R IL .41 \, I, t �� 'ST TY It ° IJ!c%Ii;i -I lw ST• - ! WWII.•-MO :is Tt . ai�MIMI 11 A F v k ,.•: r E Y4 H li ; Nom! S EXHIBIT A • -� " EX a 1 . .. NEIGHBORHOOD HOUSING SERVICES OF ELGIN RESOLUTION . for THE GUIDELINES OF THE HOME OWNERSHIP PROGRAM BE IT RESOLVED THAT THE BOARD OF DIRECTORS OF NEIGHBORHOOD HOUSING SERVICES OF ELGIN. INCORPORATED. approve the following guidelines with respect to the Home Ownership Program: • Grants shall be made under the following conditions: Buyers who have not owned improved residential property for at least 36 months prior to application for assistance under the Home Ownership . Program loan; Loans shall be limited to oraoerties that are single family or two family residential structures; Loans shall be restricted to low and moderate income households as • defined by the U.S. Department of HUD; Loans shall be made to owner occupied properties; Loans shall not enceed 15.000 to any single household; NHS will provide reports as requested by the City of Elgin for each six (6) month period of operation and said reports are due within 30 days of the end,of the reporting period. RE IT ALSO RESOLVED THAT Edward Schock; President be and is heresy authorized ano directed to execute a Purchase of Service Agreement which contains but is • not limited to the above referenced guidelines and conditions. dward Schock Presented: December 12. 1991 - . . .Aitest: �...�:t,:;;- .. : . b-4/.6i /Lt / ?2(& 5 614 sa!l'T. 2. . ,Dense Harding--Hook �' «s a m M A ' rs ✓ Au ? owe r• y 4 EXHIBIT • r w *:r.ii'- 1=> •