Resolution Granting Continued Area of Operation Authority to Escambia County Housing Finance Authority for Operating Single-Family Mortgage Loan and Mortgage Credit Certificate Programs
There is no financial impact to Hernando County
Hernando County has actively partnered with the Escambia County Housing Authority (ECHFA) to enable the ECHFA to make its First-Time Homebuyers Program and associated homeownership program activities available to the residents of Hernando County. Most recently, on June 23, 2009, the Hernando County Board of County Commissioners approved Resolution 2009-140, and the accompanying Interlocal Agreement with the ECFHA, reconfirming this long-standing cooperative relationship specifically for the benefit of individuals and families in Hernando County who wish to attain the dream of homeownership.
Adoption of the Resolution, as recommended, will continue the existing area of operation authority that enables the ECHFA to deliver homeownership programs in Hernando County and provide an option to offer a new Mortgage Credit Certificate (MCC) Program within Hernando County. The Homeownership Program, including payment of down payment and closing cost assistance for qualified buyers, is provided by the ECHFA at no cost to Hernando County. The MCC Program is a federal income tax credit that will be available to qualifying first time homebuyers who use the ECHFA Homeownership Program and is also provided at no cost to Hernando County.
|MOVER:||Nicholas W. Nicholson, Commissioner|
|SECONDER:||John Allocco, Second Vice Chairman|
|AYES:||Wayne Dukes, Steve Champion, John Allocco, Jeff Holcomb, Nicholas W. Nicholson|