Title
Incorporated County Of Los Alamos Ordinance No. 02-270; An Ordinance Establishing An Affordable Homebuyer Assistance Program.
Recommended Action
I Introduce, without prejudice, Incorporated County Of Los Alamos Ordinance No.02-270; An Ordinance Establishing An Affordable Homebuyer Assistance Program. Amending Chapter 14, Article VII, of the Code of the Incorporated County of Los Alamos To Add A Division 3 To Include New Sections 14-266 Through 14-273.
County Manager's Recommendation
The County Manager recommends that Council introduce the motion as presented.
Body
Background
On January 26, 2010, County Council approved Ordinance No. 551 Establishing an Affordable Housing Program pursuant to the Affordable Housing Act and which states additional ordinances will be needed to enable the County to create and administer specific housing programs.
On March 8, 2016, County Council approved Ordinance No. 664 re-establishing the Affordable Housing Program. Ordinance No. 664 repealed Ordinance No. 551 and ensured compliance with the State’s latest rules and regulations and to enhance the methods available to the County to assist qualified County residents in acquiring or improving housing within the County. County Council approved $150,000 as part of the 2017-2018 Community Development Department budget for the specific purpose of creating and implementing an affordable homebuyer program.
This Ordinance authorizes CDD staff to implement a Homebuyer Assistance Program as part of the overall effort to address affordable housing needs in the community. Key findings of staff research on housing demand in Los Alamos County includes steadily rising home prices and a median sale price substantially above the New Mexico average. Many low income households who live in, or commute into the County for work cannot afford to purchase a home in the County. A portion of these households would chose to purchase in the County if an affordable home suited to their needs was av...
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