HomeMy WebLinkAbout2010-19 OHCS Homeownership Stabilization Program
RESOLUTION NO. 2010- I '1
A RESOLUTION PROVIDING A RECOMMENDATION TO OREGON HOUSING AND
COMMUNITY SERVICES DEPARTMENT REGARDING ALLO,CATION OF THE
OREGON HOMEOWNERSHIP STABILIZATION PROGRAM FUNDS
Recitals:
A. WHEREAS, Oregon has been designated as a potential recipient of $88 million dollars
from the U.S. treasury Department to be used to assist homeowners in avoiding
foreclosure and to stabilize neighborhoods and housing markets; and
B. WHEREAS, the criteria used by the U.S. Treasury Department to select the recipient
states focused primarily on states having large percentages of their citizens living in
counties where unemployment rates for the year 2009 were greater than 12%. Oregon
was chosen because 14 counties, with nearly 35% of the State population, had
unemployment rates in excess of 14%; and
C. WHEREAS, the U.S. Treasury Department's Hardest Hit Housing Market program
guidelines indicate that the available funding should be allocated "substantially" to the
counties "experiencing high concentration of people living in economically distressed
areas, these 14 counties with the highest unemployment rates (one of which is Jackson
County); and
D. WHEREAS, the City of Ashland supports the majority of the funding, with no less than
50%, be allocated to the 14 counties that are the hardest hit in the State of Oregon, the
very counties that qualified Oregon to receive Oregon Homeownership Stabilization
Program funds; now, therefore,
THE CITY OF ASHLAND RESOLVES AS FOLLOWS:
SECTION 1. That this City Council supports the Oregon Homeownership Stabilization
p'rogram funding allocation with more than 50% going to the hardest hit counties in the
State of Oregon in accordance with the U.S. Treasury Hardest Hit Housing Market
guidelines.
ON 2. This resol '0 takes effect upon signing by the Mayor.
arbara Christensen, City Recorder
SIGNED and APPROVED this I~ay of
Page 1 of 1