HomeMy WebLinkAbout12655RESOLUTION NO. 12655
A RESOLUTION APPOINTING A CITY OF PUEBLO
EMPLOYEE AS THE DESIGNATED CITY
REPRESENTATIVE AS A MEMBER OF NEIGHBORHOOD
HOUSING SERVICES OF PUEBLO’S LENDING & LOAN
SERVICING COMMITTEE
WHEREAS, on May 24, 1976, Neighborhood Housing Services of Pueblo (dba
NeighborWorks of Pueblo) was established by the City of Pueblo and the Urban
Reinvestment Task Force under Resolution Number 3782. The stated purpose of the
organization was and continues to be assisting residents of neighborhoods to improve
their homes, providing counseling, and providing direct loans at flexible rates and terms;
and
WHEREAS, the City agrees to appoint an individual to act as the final decision
maker over the organization’s entire down payment assistance program, including
funding received from the City of Pueblo, the County of Pueblo, NeighborWorks
America, the Colorado Division of Housing, and any and all other sources of secondary
lending activities per NHS underwriting policies/guidelines and restrictions placed upon
the organization by the funding entity; and
WHEREAS, all NHS of Pueblo loans are made out of its revolving fund, subject
to the financial controls established by the City of Pueblo in the agreement dated
August 14, 1978, under Resolution Number 4246, which established the organization’s
Revolving Loan Fund. Included in this agreement are standards under which NHS
cooperates with the City in the performance of review and audit and permits
representatives of the City access to and the right to review NHS books, accounts, and
records; NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
Section 1.
The Pueblo City Council assigns the Loan Coordinator, an employee with the
City of Pueblo’s Department of Housing and Citizen Services as the designated City
representative who shall be a member of NHS of Pueblo’s Lending & Loan Servicing
Committee with final authorization of the organization’s secondary financing lending
activities.
Section 2
This Resolution shall become effective upon passage and approval.
INTRODUCED: April 22, 2013
BY: Chris Kaufman
Background Paper for Proposed
RESOLUTION
DATE: AGENDA ITEM # M-3
April 22, 2013
DEPARTMENT:
City Council
TITLE:
A RESOLUTION APPOINTING A CITY OF PUEBLO EMPLOYEE AS THE
DESIGNATED CITY REPRESENTATIVE AS A MEMBER OF NEIGHBORHOOD
HOUSING SERVICES OF PUEBLO’S LENDING & LOAN SERVICING COMMITTEE
ISSUE:
Should the City Council approve a City of Pueblo employee as the designated City
representative as a member of Neighborhood Housing Services of Pueblo’s (NHS)
Lending & Loan Servicing Committee?
RECOMMENDATION:
This Resolution is at the request of Council Member Sandy Daff.
BACKGROUND:
On May 24, 1976, Neighborhood Housing Services of Pueblo (dba NeighborWorks of
Pueblo) was established by the City of Pueblo and the Urban Reinvestment Task Force
under Resolution Number 3782. The stated purpose of the organization was and
continues to be assisting residents of neighborhoods to improve their homes, providing
counseling, and providing direct loans at flexible rates and terms.
In order to meet the criteria of the Department of Housing and Urban Development, the
City of Pueblo must agree to appoint an individual to act as the final decision maker
over the organization’s entire down payment assistance program, including funding
received from the City of Pueblo, the County of Pueblo, NeighborWorks America, the
Colorado Division of Housing, and any and all other sources of secondary lending
activities per NHS underwriting policies/guidelines and restrictions placed upon the
organization by the funding entity.
This Resolution would assign the Loan Coordinator, an employee with the City of
Pueblo’s Department of Housing and Citizen Services as the designated City
representative who shall be a member of NHS of Pueblo’s Lending & Loan Servicing
Committee with final authorization of the organization’s secondary financing lending
activities.
FINANCIAL IMPACT:
None.