The URL can be used to link to this page

Home My WebLink AboutPR 24481: REPORT ON HOMEBUYER WRITTEN AGREEMENTS AND DEEDS OF TRUST EXECUTED INTEROFFICE MEMORANDUM HOUSING ASSISTANCE PROGRAMS Date: August 4,2025 To: Ronald"Ron"Burton,CPM,City Manager Mayor and City Council From: Beverly Freeman,Manager of Housing and Neighborhood Revitalization Re: P.R.No.24481 —Report on Homebuyer Written Agreements and Deeds of Trust Executed Nature of Request: The Housing Division recommends that the City Council adopt Proposed Resolution No. 24481, authorizing the City Manager to report that, in accordance with Homebuyer's Assistance Program Guidelines, Written Agreements, Second Lien Deeds of Trust and related loan documents were executed for down payment assistance provided to six (6) eligible homebuyers. This assistance provided direct benefits with gap financing, principal buy-downs and closing costs to purchase new construction and existing homes. Staff Analysis/Considerations: The Department of Housing and Urban Development (HUD) annually awards Community Development Block Grant (CDBG) and HOME Investment Partnerships funds to the City, primarily for the benefit of low- and moderate-income persons/families. The City is obligated to provide down payment assistance to low- and moderate-income homebuyers whose income is 80% or less of the Area Median Income, to assist them in achieving the American Dream of homeownership. The Homebuyer's Assistance Program Guidelines, as amended via Resolution Number 22-002, authorized the City Manager to execute Written Agreements and Deeds of Trust for the City's Homebuyers Assistance Program. Six(6)homebuyers were assisted as listed below: Location Assistance Type 1942 6th Street $40,000.00 New Construction 1411 Trinity Avenue $40,000.00 New Construction 2012 Wignall Avenue $14,995.00 Existing Home Purchase 1215 5th Street $14,995.00 Existing Home Purchase 1709 15th Street $14,995.00 Existing Home Purchase 4909 Shortline Avenue $14,229.00 Existing Home Purchase 1111 Budget Consideration: Funds were provided from Account Number 105-13-033-5422-00.40-000, Project Number CD7146. RECOMMENDATION: The Housing Division recommends that the City Council adopt Proposed Resolution No. 24481, authorizing the City Manager to report that, in accordance with the Homebuyer's Assistance Program Guidelines, Written Agreements, Second Lien Deeds of Trust, and related loan documents were executed for down payment assistance to six (6) eligible homebuyers to assist with gap financing, principal buy-downs, and closing fees for the purchase of new construction and existing homes. P. R. No. 24481 08/04/25 BAF RESOLUTION NUMBER A RESOLUTION AUTHORIZING THE CITY MANAGER TO REPORT THAT, IN ACCORDANCE WITH THE HOMEBUYER'S PROGRAM GUIDELINES, SIX (6) HOMEBUYERS WERE QUALIFIED TO RECEIVE DOWN PAYMENT ASSISTANCE AS A DIRECT BENEFIT TO ASSIST WITH PRINCIPAL BUY-DOWN, GAP FINANCING AND CLOSING FEES, WHICH ALLOWED THEM TO ACHIEVE THE AMERICAN DREAM OF HOMEOWNERSHIP AND PURCHASE NEW CONSTRUCTION AND EXISTING HOMES. WHEREAS, the U.S. Department of Housing and Urban Development annually awards Community Development Block Grant (CDBG) Program and HOME Investment Partnership (HOME) Program funds to the City of Port Arthur for the primary benefit of low and moderate- income persons/families in accordance with 24 Code of Federal Regulations Part 92 and Part 570: and, WHEREAS,the City Council, by its adoption of Resolution Number 24-303 (authorizing submission of the 2024 Action Plan), has obligated itself to provide assistance as a direct benefit to homebuyers to assist the low and moderate-income persons/families with the purchase of new construction and existing homes; and WHEREAS, six(6)homebuyers were assisted as listed below: Location Assistance Type 1942 6th Street $40,000.00 New Construction 1411 Trinity Avenue $40,000.00 New Construction 2012 Wignall Avenue $14,995.00 Existing Home Purchase 1215 5th Street $14,995.00 Existing Home Purchase 1709 15th Street $14,995.00 Existing Home Purchase 4909 Shortline Avenue $14,995.00 Existing Home Purchase ; and WHEREAS, the Homebuyer's Assistance Program Guidelines, as amended via Resolution Number 22-002 and attached hereto as Exhibit "A", authorized the City Manager to execute Written Agreements and Deeds of Trust for the City's Homebuyers Assistance Program; and, WHEREAS, six (6) Written Agreements and Deeds of Trusts were executed to assist homebuyers with gap financing, principal buy-downs and closing fees for the purchase of new construction and existing homes, enabling them to obtain the American Dream of homeownership in substantially the same form as attached hereto as Exhibits`B", "C", "D", "E", "F" and"G". NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR,TEXAS: Section 1. THAT, the facts and opinions in the preamble are true and correct. Section 2. THAT, in accordance with the Homebuyer's Assistance Program Guidelines (Exhibit "A"), Written Agreements, Second Lien Deeds of Trust, and related loan documents were approved for down payment assistance to six (6) eligible homebuyers to assist with gap financing, principal buy-downs, and closing fees for the purchase of new construction and existing homes for the following: • Exhibit`B"—Latesha Arceneaux, 1942 6th Street; • Exhibit"C" Tammy Sampson Cerf, 1411 Trinity Avenue; • Exhibit"D"—Roxane Polanco, 2012 Wignall Avenue; • Exhibit"E" Ronald Babine and Leontyne, 1215 5th Street; • Exhibit"F"—Lynette Renee Jacquey, 1709 15th Street; • Exhibit"G"—Deannie Sidney, 4909 Shortline Avenue. Section 3. THAT, a copy of the caption of this Resolution be spread upon the minutes of the City Council. READ,ADOPTED,AND APPROVED this day of , A.D., 2025,at the Regular Meeting of the City Council of the City of Port Arthur, Texas, by the following Vote: AYES: MAYOR: COUNCILMEMBERS: NOES: HAROLD L. DOUCET, SR. MAYOR PRO TEM ATTEST: SHERRI BELLARD, CITY SECRETARY APPROVE • ROXANN PAIS COTRONEO, CITY ATTORNEY APPRO OM' D. RATION: ec RONAL. : , ' :� , CPM CITY MAN : R i'&4-0tA\ BEVERLY F3EEMAN, HOUSING&NEIGHBORHOOD REVITALIZATION MANAGER EXHIBIT "A" P. R. 24481 Resolution No. 22-002 Housing Assistance Program New Construction & Existing Home Purchase Program Guidelines On File For Review in the City Secretary' s Office EXHIBITS "B" - "G" P. R. 24481 Written Agreements & Deed of Trusts On File For Review in the City Secretary' s Office