AgdaPkt 2000-06-12 - Laserfiche WebLink

Browse Search

-¡ A ~b 2) desired and or required, these financial records will be open to the Agency and all other related parties at all times. Maintaining all requisite records from operations. FHI will maintain all legal documents and records as related to the underwriting and implementation of program and loan funding activities. These records will be open and made available to the Agency at all times. Preparing all requisite reports for the City and other agencies. FHI will provide the Redwood City and its related agencies a report on all program activities at least on a quarterly basis. This report will include, and not be limited to, a financial operating and capitalization budget, loan activity, buyer purchase activity, buyer registration activity, and resale activity. Maintain a database of prospective participants. FHI will maintain a database of inquiries and participants within the program, irrespective of the outcome of the participants efforts in securing a home. 3) 4) CORPORATE PROFILE The principals of FHI have over 10 years of experience in the development and administration of low to moderate income first time homebuyer programs. FHl's past and existing projects/programs also include: B City of San Bruno - the development and administration of the City of San Bruno's first time homebuyers program. This program is targeted to place in excess of 75 low to moderate income households into homeownership within a 24 month duration. City of San Mateo - FHI is the administrator of the City of San Mateo's first time homebuyer educational and counseling program. Since its inception in June of 1999, FHI has educated over 125 households and counseled over 25 households. Three of the households are now proceeding with the home purchase process City of San Mateo CASA program - FHI has successfully structured and implemented the City of San Mateo's CASA program. This program provides a sixty thousand dollar ($60,000) subsidy to all qualified households. Since it's inception, FHI has placed four households into the program. City of Mil/brae Redevelopment Agency School District Program - As the administrators of this program FHI is responsible for educating, counseling, and placing qualified school district employees into the Agency program. Millbrae provides up to an $80,000 down payment assistance subsidy. City of Fairfield Silent Second Program - FHI had designed and administered a low to moderate income first time homebuyer program in the city of Fairfield. FHI was responsible in all aspects of managing the program including program promotion, education and counseling, and program underwriting. FHI was responsible in placing over 50 households into homes through this program. Shattuck Avenue Condominiums - Berkeley - the development and administration of the purchase funding program for a 20+ units low to moderate income targeted development. This project involved the development and coordination of a project directed silent second program with first lenders and obtaining project funding approvals by secondary market funding agencies. California Dream Alliance - FHI had established an alliance with major for profit and non-profit organizations to promote education and programs for low to moderate income first time homebuyers throughout the San Francisco Bay Area. Professional Symposiums - FHI has been and continues to be highly active in organizing and promoting industry symposiums directed towards professional industry participants within the low to moderate income homebuying market segment. B B B B B 6 6 FHI also works closely with HUD and Fannie Mae's (FNMA) Housing Impact Division. These organizations are highly active in designing and implementing CHB and CRA programs for municipalities and corporations. FNMA and HUD provide support though offering funding programs directed towards low to moderate income homebuyers and by providing educational related materials. Page 5