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RESOLUTION NO. 3D53
A RESOLUTION of the City Council of the City of
Bremerton, Washington, adopting the Down Payment Assistance
Program
WHEREAS, the City of Bremerton recognizes that an increase in homeownership
and improvement and development of its neighborhood communities is critical to the long term
appeal and dynamic growth of the City; and
WHEREAS, the City of Bremerton recognizes that an investment in
homeownership and its neighborhoods is a good public investment in community development
and revitalization; and
WHEREAS, the City of Bremerton wishes to target assistance to low and very
low income persons wishing to purchase a home in Bremerton; and
WHEREAS, the City of Bremerton seeks to offer low interest down payment
assistance loans to qualified low income home buyers purchasing homes within Bremerton City
limits; and
WHEREAS, the City of Bremerton wishes to ensure continuing program integrity
by updating the program's description and administrative guidelines; and
WHEREAS, the City of Bremerton believes that our Down Payment Assistance
dollars can best be leveraged by forming an partnership with the Washington State Housing
Finance Commission's administrative underwriting services for the administration ofthis
program; NOW THEREFORE
THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON,
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The recitals and findings of fact set forth in this resolution are
hereby incorporated as if fully set forth herein.
SECTION 2. The Down Payment Assistance Program set forth in Exhibit A
attached hereto is hereby adopted as the City of Bremerton Down Payment Assistance Program.
SECTION 3. Severability. If anyone or more sections, subsections, or
sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not
affect the validity of the remaining portion of this Resolution and the same shall remain in full
force and effect.
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Down Payment Assistance Program
SECTION 4. Effective Date. This Resolution shall take effect and be in force
immediately upon its passage.
/] /)~ 1SjED by the C. ity Council of the City of Bremerton, Washington thiscf2- d--
day of ~ ,2008.
APPROVED AS TO FORM:
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Down Payment Assistance Program