The URL can be used to link to this page

Home My WebLink About1998/11/18 - Agenda Packet - AttachmentsHousing Action Resource Trust BOARD OF DIRECTORS Frank Williams, Chairman E~ecut~w Officer glA/Baldy View Vicki Wilt Public Member Anthony Wright Public Member Eduviges Gonzalez Public Member ADVISORY BOARD Ted Dutton Executive Director CA State Allocation Board Richard Lewis Lewis Homes Ira Norris Inco Homes Jim Previti Forecast Corp Dr Alan HesioD Professor of Government The Rose institute of State and Local Government D. Gregg Brown CAMASHCO, Inc President, BIA of Southern CA Christine Diemet CEO BIA of Orange County former State Housmg Director former FanmeMae P, oard Member Borre Winckel Executwe Officer, BIA Riverside Assemblyman Gary Miller Assemblyman Keith OIberg Mayor Bill Alexander City of Rancho Cucamonga Michael Milhiser City Manager, Oty of Upland Mayor David Eshleman City of Fontana President. SANBAG Martin Matich Maticb Corporation Phil Walsh Emblem Development Jonathan Weidy Watt Homes Dick Larsen San Bernardino County Treasurer- Tax Collector Erect Vincent J. Barbato Consorcio Hogar James R. Smirl Vanguard Builders, inc, David Schulze Arrowhead Realty Ben C. Anderson SunCol Cornpanes President, $IA,'Baldy V~ew Chaoter Councilperson Diane Williams City of Rancho Cucamonga Chairperson, LAFCO Edward Taczanowsky C£O,81A of Central California Jim Foster former Councilmember City of Redlands Nick Coussoulis Coussouhs Development Co. Harry Crowell lnsco/Dico 9227 Haven Avenue · Suite 280 Rancho Cucamonga - CA. 91730 (909) 945-.1574 Fax (909) 941-4012 e-mail: ha r tC~bq uicki nter. net Housing Action Resource Trusto Down Payment Assistance Program Table of Contents Section Overview I Regulations 2 FHA, FannieMae/~ CHFA Approvals 3 Procedures 4 Application/h Request for Gift Funds Forms 5 Builder/Seller/Lender Application No. 1 Overview OVERVIEW Housing Action Resource Trust (HART), is a Califomia 501 (c) (3) non-profit housing development corporation and is located in the City of Rancho Cucamonga. The specific purpose of HART is to work with local jurisdictions and communities to develop and provide, in one physical location, all of the services and training that customers need to shop for, purchase, rehabilitate, insure, maintain and manage a home. This location would be the HART HomeOwnership Center. Services provided at the HART HomeOwnership Center would be to market to prospective home buyers. The HART HomeOwnership Center provides services such as: General homebuyer education courses; Individualized pre-purchase counseling (including help in rebuilding or establishing credit); Assistance in obtahfing first mortgage financing; Training homeowners in home repairs; Post purchase counseling; and Delinquency or foreclosure prevention assistance. In addition to the services provided directly to individuals and families seeking homeownership opportunities, HART HomeOwnership Center is currently performing a number of other important functions. They are accomplished through a collaborative effort working with local jurisdictions and other community-based organizations. These projects/programs are as follows: Acquisition of multi-family to provide affordable rental housing to the low- and moderate-income families; Acquisition and rehabilitation of single family dwellings in blighted and/or revitalization areas, providing job training in the rehabilitation of the units and make the units available to homebuyers; and Develop and construct new affordable housing targeting families that are at or below 120 percent of the median income; and HART iDown Payment Assistance Program in a form of a "girl" to the home buyer toward the purchase of their home. No. 2 HART Down Payment Assistance Program Regulations Housing Action Resource Trust iHART Down Payment Assistance Program Regulations Rev. 9/98 Housing Action Resource Trust HART Down Payment Assistance Program Regulations I. Introduction Housing Action Resource Trust (HART) is a non-profit housing and community development corporation servicing selected commumties throughout the United States. HART provides down payment assistance and other housing programs to individuals and families. HART down payment assistance is provided by HART in a form of a The gift funds are combined with funds provided by the prospective homebuyer, enabling the buyer to qualify for the first mortgage needed to purchase a home. The HART fund is a gift to the Participant from HART, a non-profit corporation with on-going down payment assistance program serving individuals and families. II. General Eligibility Location: HART doum payment assistance may be approved by HART for any Participant who is utilizing the services of an approved lender or on any new or existing (re-sale) home anywhere in the continental United States. Housing Type: HART down payment assistance is made on single- family detached homes, condominium, townhouses and manufactured mobile homes. Maximum purchase price: ~Ihe price of the home may not exceed the maximum sales price for homes utilizing a Federal Housing Administration guaranteed mortgage as established by the FHA for the area in which the home is located. Eo Home Buyer Characteristics: The HART fund is a direct "girl" to the Participant and there is no obligation in the repayment of the funds. FHA, FannieMae and FreddieMac restrict no income limits to Participants who utilizes this Program. *HART is approved with CHFA (California only). Buyer~ must comply with income limits as set forth with CHFA guidelines. Co-owners, other than owner occupants, do not qualify for the girl. A co-signor or may be utilized by the buyer if the primary lender agrees to this arrangement. The apphcant shall demonstrate sufficient household credit worthiness to qualify for primary.. financing from a lender approved by HART to participate in the HART Down Payment Assistance Program. The applicant shall demonstrate that he/she/they has (have) sufficient assets to provide to the primary lender a down payment in the amount of at least l% of the purchase price of the home (FHA mortgages only). Determination of Gross Income: The applicant(s) shall present evidence of all household income including that of the applicant, his/her spouse, other household members who have and will share the same dwelling unit, or will share in ownership of the umt. All household income shall be considered as set forth below: Gross pay in the case of an employee, as determined by the employer betbre any payroll tax or other deductions are taken, whether voluntary or involuntary; and including salaries, overtime pay, commissions, fees, tips, and bonuses; and/or bo Go Net income from the operation of a professional business, the production and/or sale of goods, or the provision of a service as determined by calculating the average net income as reflected in the venture's federal income-tax return for the past three years; and/or Interest, dividends, and other net income derived from any kind from real or personal property; and/or The full amount of periodic payments actually received from social security, annuities, insurance pohcies, retirement funds, pensions, disabihty or death benefits, and other similar types of periodic receipts, including a lump-sum payment in lieu of a periodic payment:; and/or Payments in lieu of earnings, such as employment, worker's compensation, severance pay and welfare assistance. Although such payments may be excluded by the first mortgage lender for underwriting purposes, they shall be included in determining the apphcant's eligibility for a HART funds; and/or go Periodic and determinable allowances such as alimony and child support payments, regular contributions or girls received froin persons not residing in the home; to the extent that such payments are reasonably expected to continue; and/or All regular pay, special pay and allowances due to an applicant or other household resident as a member of the Armed Forces (whether or not living in the dwelling) who is head of the family, spouse, or other person whose dependents are residing in the unit; and/or Any earned income tax credit to the extent it exceeds income tax liability; and/or Any other income that must be reported to Federal and State income tax purposes. 4 The following household income shall not be counted in the determination of gross household income: Payments received for the care of foster children; Amount specially excluded by and federal or state statute from consideration as income; Casual, sporadic, or irregular gifts; Amounts that: are paid specifically for meeting medical expenses or are reimbursements for medical costs incurred; Lump-sum supplements to family assets such as an inheritance, insurance payment (including payments under health care or accident insurance and Worker's Compensation); and settlement payments for personal injury or property losses. Payments for educational scholarships made directly to the student or to the educational institution, including amounts paid by the government to veterans to cover the cost of tuition, fees, books, and equipment. The applicant shall be required to provide Federal and State income- tax returns for the prior year and verification of current income in order to establish eligibility fbr the program. Assets: The applicant shall not possess liquid assets in excess of: 1. HART's maximum gift amount. *If the buyer's t'tqutd assets exceeds HART's martmum gnfi amount, HART has the right to examine each transaction on a case-by-case basts. HART has final decision in determining buyer's eltgnbtltty to parttctpate tn the program III. For purposes of this program, the following types of assets shall be considered in determining eligibility: Go Cash savings (checking & savings accounts); Marketable secm-ities, stocks, bonds, and other forms of capital investment, including tax-exempt securities other than Individual Retirement Accounts or KEOGH plans; Inheritance or lump-sum insurance payments already receive& 3. The following are not considered assets: Do Ordinary household effects, including furniture, fixtures, and personal property; Automobiles used for personal use; Depreciable property used in a business that generates a significant portion of household income; Individual retirement plans. Terms and Conditions: The HART Down Payment Assistance Program is subject to the following terms and conditions: Purchase Price: The HART funds shall be used in conjunction with primary financing. The primary mortgage amount shall not exceed the maximam jurisdictional limits established by the Federal Housing Administration Gift Limit: The HART funds shall not exceed 10% of the total transaction costs, which shall include the purchase price of the home,. including down payment together with recumng and non- recurring closing costs,~ up to a maximum amount of $10,000~ C. Terms: The HART fund is a "gift" to the Participant. Evaluations: Each applicant shall be afforded the opportunity to comment on the processing and administration of this program. No. 3 FHA, FannieMae and CHFA Approvals U.S. Department of Hou.~ing ,,rid Urban Dev~lopm,m'4t Wa..~ir~on, D.C. 2041~ OF'I=ICE OF THE. AS~ISTAJ',e"'T SEC,~=t,E'TAFIy FOR HOWlSING-FEDERAL HOUSING COMMISSIONER Mr. Frank Williams Housing Action Resource Trust 9227 Haven Avenue, Suite 280' Rancho Cucamonga, CA 91730 Dear Mr. Williams: This responds to your June 2, 1998, follow-up letter regarding the downpayment assistance program administered by your agency. Based on your representations, this office has no objection to the downpayment assistance proposed by the Housing Action Resource Trust (HART) and found to be in compliance with FHA's requirements. Charitable organizations are permitted to provide gifts for downpaymenl: assistance, and your response indicates that you have complied with the gift-giving requirements described in our letter of May 27, !99~ If you have any additional concerns or questions, please call Vance T. Morris, Director, Home Mortgage Insurance Division at (202) 708-2700. Sincerely, for' Single Family Housing OFFICE OF SINGLE FAMILY HOUSING DIVISION U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT NEW MEXICO STATE OFFICE 625 Truman St.'~et N.E. Albuquerquc, New Mexico 87110-6472 DIRECT DIAL 505-262-6269 FACSIMILE 505-262-6604 July 21, 1998 Mr. Frank Williams, President Housing Action Resource Trust 9227 Haven Avenue, Suite 280 Rancho Cucamonga, CA 91730 Dear Mr. Williams: Subject: HART Down Payment Assistance Gift Program Thank you for your request for approval of the above program. Based on your representations and documentation submitted, we find that HART is in compliance with our requirements for down payment assistance, as outlined in HUD Handbook 4155.1, Rev. and in Mortgagee Letter 94--2. If you need further assistance, please contact me at telephone number (505) 346-7269, extension 238.. Sincerely, Carol G. Gohn~on Acting Director, Single Family Housing Division U.S. Depa~ment of Housing and Urban Developrae,t Sa~ Antonio Office, Southwest Region W~hington Square 800 Dolorosa .5, an .~'~tonio. Texas 782074563 (h ttp://ww~..hud.gov/local/san/sanhome.html) May 26,1998 Mr. Frank Williams Chairman Housing Action Resource Trust 9227 Haven Avenue, Suite 280 Rancho Cucamonga, CA 91730 Dear Mr. Williams, Thank you for the documentation dated April 30, 1998, and subsequent supporting addenda, requesting FHA non-profit status approval of Housing Action Resource Trust. The documentation meets our requirements for non-profit status, and the Hart Down Payment Assistance Program may be used in conjunction with FHA Insured Mortgages, provided the first lien guidelines are met by the lender. If you have any questions, please contact Ed McLain, Housing Specialist, or me, at (210) 475-6817. Sincerely, ,,'"','Sandra R. Hunt Chief Single Family Production October 22, 1998 Ms. Francis Eertniaume Executive Dlreclor Housing Action Rescur:e Trust 9~27 Have,n Avenue, Suite 250 Rancho Cucamonga. CA 91730 Dear Ms. Bed. hiaume: This is in response to your letter dated, Sep[ember 24, 1998, to use "Gift Funds" for homes purchased in the Atianta Homeownership Cents. Cs iurisdicticn cove~in.c the sta'~es of: Alabama, Florida, Georgia, illinois, Indiana, Kentucky, Mississippi, North Carolina South Carolina, Tennessee and Caribbean. The inform. atJon you provided shows that '~ne HART Down Payment .Assistance Program meets al[ the -equirements set forth in Mortgagee Letters 96-18, 94-2 and HUB Handbook 4155.1 Rev-4, Chgl, paragraph 1-13. Your information also contained a letter from Emetda P. Johnson, Deputy Assistant Secretary for Single Family Housing dated, June 1998 approving your charitable orgenization to give gift funds. It is important [hat your organization advi~e us of any revisions to your program's description as it F. ertains to FHA mortgage insurance. If you have any addi:ional questions or concerns, please co.-tact f'v~el,e Edwards-Lee, Chief Marketing and Oul:reach Division at (404) 331-500! exL 2706. Ve~/sincerely youre. Gayle F. Knowlson Di,ector, Single Family Marketing and Outreach Division FannieMae 1:5'5 .q~4.rth Los IS'~4~ CA 91101-1'U' IllIf ~ June 3, 1998 Mr. Frank Willlama. President Housing Action Resource Trust 9227 Haven Ave. Suite 280 Rancho Cucamonga. CA 91730 Re: HART Down Payment Assistance Program Dear Frank. Thank you for submitting your request for review of the HART Down P~yment Assistance Program. Based on the information submitted. it appears that your program is a unsecun:d grant program. Therefore. approval from Fannie Mac is not required. Fannie: Mac's approved Seller/Se~'icers are responsible for documenting the source of funels under grant program pursuant to Fannie Mac's Selling Guide. Part VI. Chapter 2. Section 203.3. Sources of Borrower's Funds. I have attached a copy of the above guideline. !f you have an.,.' questions. please feel free to contact me at (626)396-5149. Regards. Jc(l~n A. Urquijo Affordable Housing Business Manager enclosur~ CALIFORNIA HOUSING FINANCE AGENCY THERESA A. PARKER Executive Director CLARK WALLACE Chairman August 13, 1998 Ms. Francis Becthiaume Executive Director Housing Action Resource Trust 9227 Haven Avenue, Suite 28(3 Rancho Cucamonga, CA 91730 RE: HART Down Payment Assistance Program Dear Ms. Berthiaume: I received Your folder with information on the above referenced program and documents proving your status as a 501 (c)(3) Nonprofit organi?~ation. I have reviewed the information submitted, and have determined that the HART Down Payment Assistance Program is eligible to be utilized in conjunction with CHFA financing. As the HART Down Pavment Assistance is a "gift" and no repayment is expected nor is ~ lien attached to Title, there are no documents that must be sub, mitted with each CHFA loan. However, I would appreciate a copy of the approved "Request for Gift Funds" to be included to clarify from where the funds are coming for our reviewers. If the program is changed in any way in the future, it should be resubmitted for re-review. Sincerely, Ann Black Housing Finance Associate SACRAMENTO HEADQUARTERS 1121L STREET, SEVENTH FLOOR SACRAMENTO, CA 95814-3974 (916) 322-3991 Los ANGELES OFFICE 100 CORPORATE POINTE, SUITE 250 CULVER CITY, CA 90230-7630 (310) ~'1-1250 No. 4 HART Down Payment Assistance Program Procedures ~ev. 9/98 Housing Action Resource Trust HAR'I' Down Payment Assistance Program Procedures Housing Action Resource Trust (HART) has developed the following procedures in order to provide quality service to builders, sellers and lenders utilizing the HART Down Payment Assistance Program. Builder/Seller/Lender Qualifications Prior to the issuance of the "gift" funds, the Builder/Seller/Lender should complete and submit an application form to HART for review and approval. If an application form is needed, a Builder/Seller/Lender may contact HART at (909) 945-1547 to obtain an application. Participating Builders/Sellers/Lenders clearly understands the funds in. the HART Down Payment Assistance Program is a "pool" of funds which are secured by charitable contributions from builders, sellers, lenders and other businesses. In accordance with the Federal Housing Administration mortgage lending guidelines, the thnds in the "pool" may not be specified for distribution to a specific participant or escrow account. Participating Lenders must: be FHA-approved in order to participate in the HART Down Payment Assistance Program. Do Mortgage brokers who are not FHA-approved and are interested in participating in the HART Down Payment Assistance Program may do so by directly working with an approved direct mortgage lender. io HART Down Payment Assistax~ce Program is under no obligation to provide "gift" funds if, in its judgement, there are not sufficient funds in the "pool" to provide upon demand. The fee to participate in the HART Down Payment Assistance Program is $600.00 per transaction. This fee may be paid by either the buyer, seller/builder, or lender. Down Payment Assistance HART down payment assistance will be provided to families or individuals who presents a need for assistance in accordance with the HART Program Regulations. 1. The HART Participant must provide at least one percent (1%) of his or her funds toward the purchase price of the home (FHA mortgage only). 2. The HART funds provided to the Participant shall not exceed 10% of the total transaction cost or $10,000, whichever is less, of the total transaction costs. The thnd provided to the Participant is a direct "gift" and the Participant is under no obligation to repay back the "gift." 3. The "gift" funds requested from the lender must be submitted to HART utilizing the HART Request for Funds form. Application and Closing Process In order to efficiently process down payment assistance, the following procedure describes the role of HART and the approved lender in processing the HART Down Payment Assistance application. 1. The lender initiates its underwriting procedures for primary financing for a prospective home buyer. The lender determines that the applicant needs for down payment and closing costs assistance. 2. The completed HART application is submitted to HART along with the following documents. These documents consist of: ao W2 and prior year of Federal Income Tax returns; A copy of current pay stubs from borrower(s); Verification of borrower's 1% down payment (bank statements); Apphcatmn and Disclosure Statement; A signed ' ~ ' Upon receipt of a completed Application along with the related documents, HART will review and respond to the lender within twenty- four (24) hours whether the application is denied or has received approval. After receiving approval from HART, a gift letter will be issued to the buyer with a copy faxed to the lender. The homeownership education class will be coordinated through HART. HART staff will contact the buyer(s) and schedule completion of the course. The homeownership education course may be provide throug]a a classroom setting (located in Rancho Cucamonga, California) or phone interview. Please provide HART approximately 1 to 2 weeks to coordinate the completion of the homeownership education class with the buyer(s). *Note: Homeownership Education Course may be provided by a lender or a certified HUD homeownership instructor/course. It is the responsibility of the lender to complete the HART Request for Funds form, to establish the escrow account and to provide to the escrow company closing instructions and the purchase and financing transactions. HART will coordinate with. the designated escrow company in making the necessary arrangements to obtain the gift funds for the buyer prior to the close of escrow. It is the escrow company's responsibility to provide HART with a Federal Express number for express delivery if necessary. No. 5 Application ~ l~equest for Gift Funds forms Housing Action Resource Trust BOARD OF DIRECTORS Frank Williams, Chairman Executive Officer BIA/Baldy View Vicki Wilt Pub(ic Member Anthony Wright Public Member Eduviges Gonzalez Public Member ADVISORY BOARD Ted Dutton Executive Director CA State Allocation Board Richard Lewis Lewis Homes Ira Norris Into Homes Jim Previti Forecast Corp. Dr Alan Heslop Professor of Government The Rose institute of State and Local Government D. Gregg Brown C AMASHCO, Inc. President, BIA of Southern CA Christine Diemer CEO BIA of Orange County former State Housing Director former FannieMae Board Member Borre Winckel Executive Officer, BIA Riverside Assemblyman Gary Miller Assemblyman Keith Olberg Mayor Bill Alexander City of Rancho Cucamonga Michael Milhiser City Manager, City of Upland Mayor David Eshleman City of Fontaria President, SANBAG Martin Matich Matich Corporation Phil Walsh Emblem Development Jonathan Weldy Watt Homes Dick Larsen San Bernarcimo County Treasurer- Tax Collector Elect Vincent J. Barbato Consorcio Hogar James R. Smirl Vanguard Builders, inc. David Bchulze Arrowhead Realty Ben C. Anderson SunCa[ Companies President, Bl~'Baldy View Chapter Councilperson Diane Williams City of Rancho Cucamonga Chairperson, LAFCO Edward Taczanowsky CEO, BIA of Central California Jim Foster former Councilmember City of Redlands Nick Coussoulis Coussoutis Developmen! Co. Harry Crowell Insco/Dico 9227 Haven Avenue · Suite 280 Rancho Cucamonga · CA' 91730 (909) 94S-1574 Fax (909) 941-4012 e-mail: hart@quickinter. net Housing Action Resource Trust (HART) Down iPayment Assistance Program Application Instructions In order to process your application, the attached documents must be fifily completed and signed. The information provided to HART shall be used to determine eligibility for the HART Down Payment Assistance Program. Please include the following documents to your application: a) W-2 and prior year Federal Income Tax Returns; b) One current paycheck stubs from all borrowers; c) Verification of borrower's 1% down payment (bank statements, gift letter, escrow deposit equals to 1%); d) Copy of Certificate of Completion of Homeownership Workshop; e) A copy of HUD 1003 Form; f) A $200 application fee. In the event your application is denied by HART, the $200 application fee will be refunded. If', after the ~ is approved by HART, you decide: to withdraw your application or cancel the purchase of your home, the $200.00 application fee will not be refunded. Fax or mail the completed application with documentation to: ttousing Action Resource Trust 9227 Haven Avenue, Suite 280 Rancho Cucamonga, CA 91730 (909) 945-1574 - office {1909) 941-4012 - fax Disclosures Housing Action Resource Trust (HART') is a non-profit, California 501 (c)(3) housing development corporation instituted under the laws of the State of California tbr the purpose of providing down payment assistance to individuals and families. Please read the following and sign below: I/we, the undersigned, have completed the necessary requirements which qualify me/us for down payment and closing cost assistance toward the purchase of a home. I/we understand that my/our ability to receive down payment assistance from HART is subject to the availability of funds in the HART Down Payment Assistance Program and that these funds are a gift. HART is not obligated to provide these funds to me/us. I/we fuRher understand that I/we am/are under no obligation whatsoever to repay any amount of the down payment assistance received from I-L~KT for the purpose of purchasing my/our home. I/we, the undersigned Borrower(s)? instruct the title or escrow company to deposit the gift funds from I-I/LRT to escrow. I/we authorize escrow to use said funds in completing the close of escrow. I/we acknowledge and understand that the escrow instructions may call for a release of said gift funds and may contain provisions regarding disbursement of funds in the event escrow is terminated I/we acknowledge that in the event that I/we are unsuccessful in obtaining a loan or the escrow does not close within five (5) business days a~er the gift funds are deposited to escrow, I/we instruct and authorize escrow to return the gift funds to HART without recourse. Completion of Homeownership Education Workshop Borrower(s) acknowledges that, as a condition to receiving down payment assistance from HART, the Borrower(s) is/are required to attend four hours of homeownership education workshop (Note: all borrower/co-borrower(s) receiving gift funds from HART must attend and complete all required homeownership classes). It is the Lender's responsibility to inform the Borrower(s) the requirements to attend the homeownership education workshop. Failure to attend the workshop disqualifies the Borrower(s) from receiving gift funds from I-LMt. T. I/we certify that the statements made on the application are true and correct. I/we hereby certify that I]we have read and understand the foregoing statement and a~ee upon completing the required homeownership education workshop in order to obtain the gift funds from HAR'I'. Bo~ower Date Co-Bo~ower Date Co-Bo~ower Date Attest: Lender Date Housing Action Resource Trust 9227 Haven Avenue · Suite 280 Rancho Cucamonga · CA - 91730 (909) 945-1574 Fax (909) 941-4012 Request for Gift Funds Borrower Name: Co-Borrower Name: Purchase Property Address/City/ST/Zip: [] New Construction - Builder Name: Project Location: [] Resale- Seller Name: Purchase Price: Escrow Co.: Phone~: Lender: Escrow Address: Fax#: Contact: Fed Ex #: COE: Phone: Fax: Escrow #: Type of Loan (check one): ~3 FHA [] Conventional [] Other CASH REQUIREMENTS 1% Do~n Payment provided by Borrower (FHA Mortgage only) Down Payment & Closing Costs HART Gift Funds required for Dox~ Payment Estimated Closing Costs Estimated Pre-Paid Costs TOTAL HART GIFT FUNDS REQUIRED i'L~RT Gift Funds required for Borrower(s) Gift funds must not exceed $10.000 Homeownership Education must be completed prior to the issuance of Gift Funds from HART. Prepared By Date Approved By Date No. 6 Builder / Seller / Lender Application Form Housing Action Resource Trust BOARD OF DIRECTORS Frank Williams, Chairman Executive Officer BIA/Baldy View Vicki Wilt Public Member Anthony Wright Public Member Eduviges Gonzalez Public Member ADVISORY BOARD Ted Dutton Executive Director CA State Allocation Board Richard Lewis Lewis Homes Ira Norris Into Homes Jim Previti Forecast Corp. Dr Alan Heslop Professor of Government The Rose Institute of State and Local Government D. Gregg Brown CAMASHCO, Inc. President, BIA of Southern CA Christine DieTer CEO BIA of Orange County former State Housing Director former FanmeMae Board Member Borre Winckel Executive Officer, BIA Riverside Assemblyman Gary Miller Assemblyman Keith Olberg Mayor Bill Alexander City of Rancho Cucamonga Michael Milhiser City Manager, City oi~ Upland Mayor David Eshleman C~ty of Fontana Fres~dent, SANBAG Martin Matich Matich Corporation Phil Walsh Emblem Development Jonathan Weldy Watt Homes Dick Larsen 5an Bernardtoo County Treasurer- Tax Collector Elect Vincent J. Barbato Consorcio Hogar James R. Smirl Vanguard Builders, Inc. David Schulze Arrowhead Realty Ben C. Anderson _~unCal Companies President, BIA ~Baldy View Chaoter Councilperson Diane Williams City of Rancho Cucamonga Chairperson, LAFCO Edward Taczanowsky CEO, BIA ol Central California Jim Foster former Councilmember City of Redlands Nick Coussoulis Coussouhs Development Co. Harry Crowell Insco/Dlco 9227 Haven Avenue. Suite 280 Rancho Cucamonga · CA · 91730 (909) 945,-1574 Fax (909) 94'1-4012 e-mail: hart@quickinter. net Dear Builder/Lender: Housing Action Resource Trust (HART) is a non-profit 501 (c)(3) housing and community development corporation dedicated to developing affordable housing throughout selected communities in the United States. As founder and president of HART, I would like to introduce an innovative program called the HART Down Payment Assistance Program. This program has received national approval from FHA and Fannie Mac. The HART Down Payment Assistance Program provides a mechamsra for builders, lenders and other businesses to make charitable contributions to HART, and in-ram, HART would make these timds available for down payment assistance in a form of a "girl" to families purchasing their first home. The HART Down Payment Assistance Program restrict no income limits to participants who utilizes the program. If you are interested in participating with HART's Down Payment Assistance Program, please complete the attached application and fax it to (909) 941-4012. If you have any questions or need additional information, please feel free to contact me or Francis Berthiaume, Executive Director at (909) 945- 1574. We look forward to hearing from you soon. anid~eWnerely' Housing Action Resource Trust 9227 Haven Avenue · Suite 280 Rancho Cucamonga - CA ,. 91730 (909) 945-1574 Fax (909) 94.1-4012 Builder/Seller/Lender AppUcation Form Please complete tb!_~ form and marl or fax to HART at 1909) 941-4012. Name of Builder: Address: Phone Number: NEW CONSTRUCTION City: Fax Number: *Signature {President or Authorized Signature}: _ __Zip: Name of Seller**: Address: Phone Number: RESALE ...... City: ............. Fax Number: ST:__Zip: **Seller hereby agrees to provide a contr/bution to HART in the amount of up to $ _ to support the mission of the organization in developing affordable housing throughout selected communities in the United States. Signature of Seller: Name of Lender: LENDER Contact Person: Address: Phone Number: Lender is a: Location of Project: _ City: ___Mort~aEe Bank ___Mortgage Broker State ........... * SignatureSAuthorized Officer): Fax Number: Savings a~ Loan Commercial Bank C~ty __Zip: *We understand that by signing this AppUcation Form, we are entering into an Agreement with HART to participate in the HART Down Payment Assistance Pro~ram. We agree to comply with the regulatiorm and procedures of the Program. We further understand that the Lender listed above utilt~-es FHA guaranteed mortgages. Dutton & Associates, Inc. Memo To: Mayor Alexander From: Bob Dutton Date: November 18, 1998 Re: Central Park I would like to request that Central Park be placed on the agenda for the purpose of clearing up any misunderstandings which the public may have. Items to be covered should include: 1. How the city came to acquire the park site and why Lewis Homes has the right to buy the land back if we do not build a park. 2. A brief description of where we were, where we are and what is next. 3. Why a survey makes good sense. 4. Why the recession and the passage of Proposition 218 have delayed progress. 5. Why PD85 was formed and why the funds from PD85, or any other Assessment District, cannot be used for Central Park. I would also like to put to rest the notion that we might sell part of this property. · Page 1