Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
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MOTION TO AUTHORIZE County Administrator to execute a Second Amendment to Agreement between Broward County and City of Hollywood ("City") for administration of the First Time Homebuyer Purchase Assistance Program ("FTHPA Program"), amending the terms of the sale of a single-family residence owned by the City, subject to review and approval as to legal sufficiency by the Office of the County Attorney; to take all administrative and budgetary actions necessary to implement same; and to execute non-monetary amendments and reinstatements of the Agreement, that do not impose any additional material financial impact on the County, subject to review and approval as to legal sufficiency by the Office of the County Attorney. (Commission District 6)
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Why Action is Necessary
Board action is required to approve amendments to agreements with outside agencies.
What Action Accomplishes
This action amends the terms of the sale of the single-family residence owned by the City located at 2323 Cleveland Street, Hollywood, FL 33020 ("Property"), by changing the eligible homebuyer's gross household income maximum cap from 80% AMI (area median income) to 120% AMI and increasing the City of Hollywood's funds for purchase assistance from $70,000 to $120,000.
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Previous Action Taken
The existing Agreement was initially approved by Broward County Board of County Commissioners on January 7, 2020, Agenda Item No. 15; and the Board approved the First Amendment to the Agreement on June 7, 2022, Agenda Item No. 24.
Summary Explanation/Background
THE RESILIENT ENVIRONMENT DEPARTMENT AND HOUSING FINANCE DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
The Motion supports the County's Value of Collaboration by "building pa...
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