92-0212 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
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• • 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 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
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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
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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
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EXHIBIT A
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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 -
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