HomeMy WebLinkAboutRES 04-174 I
RESOLUTION NO. 04-174
BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BEAUMONT:
THAT the City Manager be and he is hereby authorized to execute a contract with the
Beaumont Community Housing Development Organization (BCHDO) in the amount of
$222,750 for the purchase of three pre-existing scatter-site homes that will be retained as
lease property for no more than thirty-six (36) months and sold to eligible low/moderate
income families as shown below:
Acquisition of Pre-existing Homes for Lease-Purchase* - 2003 HOME Funds
Unit Purchase Appraisal Survey Home/Pest Make-
Price Inspection Ready
Repairs
Total
House #1 $68,000 $400 $350 $500 $5,000 $74,250
House #2 $68,000 $400 $350 1 $500 $5,000 $74,250
House #3 $68,000 $400 $350 $500 $5,000 $74,250
Total $204,000 $1,200 1,050 $1,500 $15,000 $222,750
*As per federal regulations, lease-purchase homes must be purchased by a homebuyer
within thirty-six (36) months of signing the lease-purchase agreement and the homebuyer must
qualify as a low-income family at the time the lease-purchase is signed.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 3rd day of
August, 2004.
May r Evelyn M. Lord -
lot