Title
Consider/Discuss/Act on a Resolution Authorizing the Interim 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: July 15, 2014
DEPARTMENT: Housing & Community Development Department/Housing Services Division
CONTACT: Cristel Todd, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the Resolution.
ITEM SUMMARY:
· The attached Resolution authorizes the Interim 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:
· The City of McKinney and the City of Frisco have partnered to provide classes since 2004. In 2012, our first Interlocal Agreement which included the City of Plano was approved.
FINANCIAL SUMMARY:
· Annual cost savings to the City of McKinney realized from Interlocal Agreement is $1,300.
BOARD OR COMMISSION RECOMMENDATION:
· N/A