HomeMy WebLinkAboutResolution - - 2011-080 - 4/28/2011RESOLUTION NO. 2011-80
RESOLUTION OF THE COUNCIL OF THE CITY OF FRESNO
SUPPORTING STATE LEGISLATIVE EFFORTS TO RELIEVE
THE HOME MORTGAGE FORECLOSURE CRISIS IN THE
CITY OF FRESNO AND STATE OF CALIFORNIA.
WHEREAS, the loss of a home to foreclosure can be devastating for a family; and
WHEREAS, in addition to losing what is often their most significant asset, families are
uprooted from community supports and may find themselves with no place to go; and
WHEREAS, foreclosures also destabilize entire neighborhoods through declines in
surrounding property values, loss of tax revenue, and blight; and
WHEREAS, while the entire State of California is suffering greatly from the foreclosure
crisis, the City of Fresno has been particularly hard hit; and
WHEREAS, approximately 39% of the properties in the City of Fresno have negative
equity (www.CoreLogic.com); and
WHEREAS, in the City of Fresno, foreclosures have been initiated on 1 out of every 171
housing units (www.RealtyTrac.com); and
WHEREAS, the City of Fresno's foreclosure rate is 10% higher that the State average,
and more than twice as high as the national average (United States Census Bureau); and
WHEREAS, most of the homes in the City of Fresno being foreclosed are those valued at
less than $300,000.00, and involve those families who received their loans at the peak of
"predatory lending" (2005-2007) (The Foreclosure Report, www.foreclosureradar.com); and
WHEREAS, the California State Legislature has responded to the foreclosure crisis by
drafting and introducing numerous assembly bills to create laws and regulations that will provide
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r Resolution Supporting State Legislative Efforts
to Relieve the Home Mortgage Foreclosure Crisis
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additional protection and extend some relief to those families who are losing their homes due to -0og4 1M1�
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foreclosure; and
WHEREAS, the Council of the City of Fresno supports the efforts of the State legislature
and encourages both the State Assembly and Senate to work with those families in the City of
Fresno and throughout the State of California who have lost and may be about to lose their
homes, by passing laws that will alleviate the hardship families suffer due to home foreclosure.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Fresno as
follows:
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111
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I . The Council declares its support of the State Legislature's efforts to
consider legislation that may help alleviate the hardship families in the City of Fresno and
all of California suffer due to home foreclosure.
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Resolution Supporting State Legislative Efforts
to Relieve the Home Mortgage Foreclosure Crisis
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2. The Clerk is requested to forward a copy of this resolution to those State °94T n oc,.'y
elected official representing Fresno.
STATE OF CALIFORNIA )
COUNTY OF FRESNO ) ss.
CITY OF FRESNO )
I, REBECCA E. KLISCH, City Clerk of the City of Fresno, certify that the foregoing
resolution was adopted by the Council of the City of Fresno, at a regular meeting held on the
28tkday of April 2011.
AYES Baines, Borgeas, Olivier, Quintero, Xiong, Brand
NOES westerlund
ABSENT : None
ABSTAIN : None
Mayor Approval: N/A 52011
Mayor Approval/No Return: N/A , 2011
Mayor Veto:
N/A , 2011
Council Override Vote: N/A 2011
APPROVED AS TO FORM:
CITY ATTO Y'S OFFICE
BY:
04 F,
Michael D, Flores, Deputy
MDF:ns [56008ns/mdq- 5/19/l1
REBECCA E. KLISCH
City Clerk
BY:
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Resolution Supporting State Legislative Efforts
to Relieve the Home Mortgage Foreclosure Crisis