19-1146s:lle�al(o�xG da�;un�c,rMtslordinac�ceslN9(�utian plan rev 2
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WHEREAS, the City of Denton is concerned with the development of viable urban
communities, including decent housing, a suitable living environment, and expanded economic
opportunities; and
WHE AS, the City of Denton has a special cancern for persons of low and moderate
income; and
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WHEREAS, citizen participation requirements, including the halding af public hearings,
have been met; and
WHEREAS, the Community evelopment Act of 1974 and the National Affordable
Housing Act of 1990 require an applicatian and appropriate certification included in the
Consolidated Plan; and
WHEREAS, implementation of the 2019 Actian Plan will require the executian of release
of liens or subardination agreernents related to the financing provided therein; NOW,
THEREFO .
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SECTION 1. The findings and recitations contained in the preamble of this ordinance are
incorporated�herein by reference.
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s:/legal/our documents/ordinances/19/action plan — rev 2
SECTION 3. The City Council of the City of Denton authorizes the Community
Development Manager to handle all fiscal and administrative matters related to the application,
the 2019 Action Plan, and the certifications, including any proportional increases or decreases in
project or program funding required to match allocation amounts.
SECTION 4. The Community Development Manager and Community Development
Coordinator are hereby authorized to execute release of liens, as approved by the City Attorney's
Office, related to the funding provided through the 2019 Action Plan upon the full and complete
payment of any and all outstanding indebtedness and in full compliance with residency
requirements.
SECTION 5. The Community Development Manager and Community Development
Coordinator are hereby authorized to execute subordination, or similar, agreements, as approved
by the City Attorney's Office, related to the funding provided through the 2019 Action Plan upon
the refinancing of borrower's preexisting mortgage loan provided borrower is in full compliance
with the terms and conditions of the City-provided financing.
SECTION 6. The City Secretary is hereby authorized to furnish copies of the ordinance to
all interested parties.
SECTION 7. This ordinance shall become effective immediately upon its passage and
approval._m..�..____�___—
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The motion to �������•�ar�� this ordinance was made by _/��1� ��r mm���� ���'���° and
seconded b d � « �" a � � a � � � ��
Y , � � m, . z� � � � � � _� ��� � � �� ,� the ordinance was 1,.� � ���.;a� and approved by
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Aye Nay Abstain Absent
Mayor Chris Watts: � _� � , �°°'���
Gerard Hudspeth, District 1: ,�� __�m � ,
Keely G. Briggs, District 2: �
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Jesse Davis, District 3: ��°'
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John R an District 4• �����
Deb Armintor, At Large Place 5: �_°°° �
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Paul Meltzer, At Large Place 6: __ __ �a ���``�
PASSED AND APPROVED this the �`����"�', day of �� �����"� ��'' 2019.
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a�� � ��� ����`�^ ...�� �m w CHRIS �v'r1'�I'1"�, MAYOR
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ATTEST:
ROSA RIOS, CITY SECRETARY
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BYd �� � �..�. �, ,� ,� � �� �
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APPROVED AS TO LEGAL FORM�
AARON LEAL, CITY ATTORNEY
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