22-019 (02-15) Supporting Statewide First-Geeration Homebuyers Down Payment Assistance FundRESOLUTION NO. 22-019
A RESOLUTION SUPPORTING A STATEWIDE FIRST GENERATION HOMEBUYER
DOWN PAYMENT ASSISTANCE FUND
WHEREAS, Homeownership is vital to the strength of our economy and the
vibrancy of our community; and
WHEREAS, Dedicated funding for more affordable homeownership opportunity
is needed to meet our affordable housing goals for all Minnesotans to be stably housed;
and
WHEREAS, Minnesota has one of the largest racial homeownership gaps in the
country, and the gap is continuing to grow; and
WHEREAS, Additional resources are needed for cities to address the unequal
distribution of housing resources to advance diverse, inclusionary and equitable housing
opportunities throughout Minnesota; and
WHEREAS, Systemic racism in housing occurs today – Black, Indigenous, and
other communities of color continue to face discrimination and lack of access to
affordable home ownership; and
WHEREAS, Dedicated funding for down payment assistance for first generation
homebuyers is needed for individuals who do not have access to generational wealth
and ‘but for’ the assistance would not achieve homeownership.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
GOLDEN VALLEY that this Council supports a statewide first generation down
payment assistance fund for first generation homebuyers.
BE IT FURTHER RESOLVED that this Council supports housing policy that
provides affordable homeownership assistance eligibility based on income, social
vulnerability factors, and first generation homebuyers.
Adopted by the City Council of Golden Valley, Minnesota this 15th day of February,
2022.
____________________________
Shepard M. Harris, Mayor
ATTEST:
_______________________
Theresa Schyma, City Clerk
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