RRA - Approval of Minutes - 11-10-98 NOT OFFICIAL UNTIL A?: :
3Y THE ROSEMEAD HC'
EVELOPMENT CORPCic.
MINUTES OF THE REGULAR MEETING
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
NOVEMBER 10, 1998
The Regular Meeting of the Rosemead Housing Development Corporation was called to order by
President Bruesch at 7:09 p.m. in the Conference Room of City Hall, 8838 E. Valley Boulevard,
Rosemead, California.
The Pledge to the Flag and Invocation were waived as having been completed during the
meeting just adjourned.
ROLL CALL OF OFFICERS:
Present: Directors Clark, Imperial, Taylor, Vice-President Vasquez, and
President Bruesch
Absent: None
APPROVAL OF MINUTES: None
1. APPROVAL OF GUIDELINE PROVISIONS FOR FIRST-TIME HOMEBUYER
PROGRAM
Director Taylor stated that it is unfair to allow City employees to be eligible to participate
in this program without meeting the residency requirements.
Director Imperial stated that City employees should meet the same requirements as
everyone else.
Director Taylor requested that that section referring to City employees be deleted.
MOTION BY DIRECTOR TAYLOR, SECOND BY DIRECTOR IMPERIAL that the
Corporation approve the amendments, with the deletion of the section referring to City employees
being eligible, as outlined in the Guidelines and Procedures Manual for the First Time Homebuyer
Program. Vote resulted:
Aye: Vasquez, Clark, Bruesch, Imperial, Taylor
No: None
Absent: None
Abstain: None
The President declared said motion duly carried and so ordered.
Juan Nunez, 2702 Del Mar, Rosemead, asked if the property owner would not be paying
any interest until it was sold.
Chairman Bruesch responded that the section Mr. Nunez is referring to does not include
the full price of the house, but is basically to allow more applicants to qualify for the down
payment.
Agencymember Taylor request clarification on an applicant being able to qualify using
income tax returns versus using anticipated income as defined in the guidelines.
Jeff Stewart, Director of Administrative Services, responded that instead of qualifying
under the previous years'tax returns, the current pay stubs will be annualized to make that figure
the most current qualification.
RRAI I-10-98
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Agencymember Taylor stated that he did not want his comments regarding removal of the
section referring to City employees being eligible for the program to be misinterpreted. Mr.
Taylor clarified that the program does not exclude City employees, but, they have to meet the
same requirements as Rosemead residents.
2. MATTERS FROM OFFICIALS
3. ORAL COMMUNICATIONS FROM THE AUDIENCE ON HOUSING
DEVELOPMENT MATTERS
4. ADJOURNMENT
There being no further action at this time, the meeting was adjourned at 7:40 p.m. in
memory of long-time Traffic Commissioner, Dan Tirre. The next regular meeting is scheduled for
November 24, 1998, at 7:00 p.m.
Respectfully submitted: APPROVED:
Corporation Secretary PRESIDENT
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