Housing – Approval of Minutes 04-14-98 NOT Of F'CLAL UNTIL APPROVED
111' 'i iii_I'.OS"MEAD HOUSING
DEVELOPMENT CORPORATION
MINUTES OF THE REGULAR MEETING
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
APRIL 14, 1998
The Regular Meeting of the Rosemead Housing Development Corporation was called to order by
President Imperial at p.m. in the Conference Room of City Hall, 8838 E. Valley Boulevard,
Rosemead, California.
The Pledge and Invocation were waived as having been completed at the meeting just
adjourned.
ROLL CALL OF OFFICERS:
Present: Directors Clark, Imperial, Vice-Chairman Vasquez, and Chairman
Bruesch
Absent: Taylor
APPROVAL OF MINUTES: AUGUST 12, 1997 -REGULAR MEETING
MOTION BY VICE-CHAIRMAN VASQUEZ, SECOND BY DIRECTOR IMPERIAL
that the Minutes of the Regular Meeting of August 12, 1997, be approved as submitted.
Vote resulted:
Aye: Bruesch, Vasquez, Clark, Imperial
No: None
Absent: Taylor
Abstain: None
The President declared said motion duly carried and so ordered.
1. RESOLUTION NO. 98-01 CLAIMS AND DEMANDS
The following Resolution was presented to the Rosemead Housing Development
Corporation for adoption:
RESOLUTION NO. 98-01
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION ALLOWING CERTAIN CLAIMS AND DEMANDS IN THE
SUM OF $31,677.65 AND DEMANDS NO. 1185 THROUGH NO. 1194
MOTION BY DIRECTOR IMPERIAL, SECOND BY VICE-CHAIRMAN VASQUEZ
that the Corporation adopt Resolution No. 98-01. Vote resulted:
Aye: Bruesch, Vasquez, Clark, Imperial
No: None
Absent: Taylor
Abstain: None
The Vice President declared said motion duly carried and so ordered.
2. ADOPTION OF GUIDELINES FOR FIRST TIME HOMEBUYER PROGRAM
Director Clark requested that the guidelines be amended to include requiring the
prospective homebuyer to have a minimum of$500 in the bank in order to apply for the loan.
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President Bruesch requested that ..."preserve and enhance 'decent and' affordable
housing"...be inserted in Section 1. B, #2. Mr. Bruesch also requested that staff maintain a list of
banks that will provide those loans and to target specific neighborhoods that may benefit from this
program.
MOTION BY DIRECTOR IMPERIAL, SECOND BY VICE-CHAIRMAN VASQUEZ
that the Housing Corporation adopt the guidelines, as amended, for a First-Time Homebuyer
Program and authorize staff to proceed with the program as described in the guidelines. Vote
resulted:
Aye: Vasquez, Clark, Bruesch, Imperial
No: None
Absent: Taylor
Abstain: None
The President declared said motion duly carried and so ordered.
3. MATTERS FROM OFFICIALS
4. ORAL COMMUNICATIONS FROM THE AUDIENCE ON HOUSING
DEVELOPMENT MATTERS
5. ADJOURNMENT
There being no further action at this time, the meeting was adjourned at 7:15 p.m. The
next regular meeting is scheduled for May 12, 1998, at 7:00 p.m.
Respectfully submitted: APPROVED:
Corporation Secretary PRESIDENT
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