Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager, or Authorized Designee, to Execute an Interlocal Agreement between the Cities of McKinney, Frisco, and Plano, Texas for Participation in First-Time Homebuyer Education Classes for Residents of Each Municipal Jurisdiction Who Wish to Purchase a Home
Summary
MEETING DATE: February 7, 2012
DEPARTMENT: Community Services Department - Affordable Housing Services Office
CONTACT: Cristel Todd, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• The attached Resolution authorizes the City Manager, or authorized designee, to approve the terms and conditions of an Interlocal Agreement between the Cities of McKinney, Frisco, and Plano, Texas for participation in First-Time Homebuyer Education Classes for residents of each municipal jurisdiction who wish to purchase a home.
• In order to serve the needs of all three communities more efficiently, staff recommends the Cities of McKinney, Frisco, and Plano combine financial resources and offer one class for all three cities.
• This agreement increases the availability of classes for homeowners, improves the homebuyer training materials, eliminates duplication of services, and reduces the cost for a first time homebuyer educational program for all three cities.
BACKGROUND INFORMATION:
• Since 2004, the City of McKinney and the City of Frisco have partnered to provide classes to our first-time homebuyers. Recently, we have lost the education specialist that provided the classes due to economic cutbacks with GreenPath.
FINANCIAL SUMMARY:
• The Homebuyer Education Classes are paid for through HOME grant administrative funds we receive from The Texas Department of Housing and Community Affairs.
• The Interlocal Agreement will reduce the City of McKinney’s administrative cost by $1,300 to $2,202.75
BOARD OR COMMISSION RECOMMENDATION:
• N/A