Attachment 1
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CITY OF MOUNTAIN VIEW
RESOLUTION NO.
SERIES 2022
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOUNTAIN VIEW MODIFYING CITY COUNCIL POLICY D-13,
MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION ASSISTANCE PROGRAM
WHEREAS, the City of Mountain View has a policy for an employee homebuyer and relocation assistance program; and
WHEREAS, the Council Policy and Procedures Committee (CPPC) held a publicly noticed meeting on September 28, 2022 to consider recommended changes to Council Policy D -13 to modify and clarify provisions of the employer homebuyer program; and
WHEREAS, the City Council approves the recommendations of the CPPC and staff ; now therefore, be it
RESOLVED: that the City Council of the City of Mountain View hereby adopts the modifications of City Council Policy D-13, as described above and shown in Exhibit A, attached to this Resolution.
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LB/4/RESO
035-12-06-22r
Exhibit: A. Council Policy D -13, Mountain View Employee Homebuyer and Relocation Assistance Program
CITY COUNCIL POLICY
SUBJECT: MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION
ASSISTANCE PROGRAM
NO.: D-13
PURPOSE:
To establish the City’s policy for a homebuyer program for City employees and relocation assistance for Council appointees, department heads, assistant directors, and division managers or a position designated by the City Manager, or designee, as hard-to-fill positions.
POLICY:
1. Eligibility for Employee Homebuyer Program
a. Regular City employees who have passed the initial probationary period are eligible for the Employee Homebuyer Program.
b. Department heads and Council appointees who are not subject to a probationary period are eligible for this program at the time of hire.
2. Homebuyer Program
The Employee Homebuyer Program shall consist of the following elements:
a. Loan Amount:
All Employees:
Loan of up to $250,000 to assist with purchasing a home in, or within a 10-mile radius of, Mountain View.
First Responders:
First responders are eligible for either the All Employee s loan above, or a l oan of up to $500,000 to assist with purchasing a home in , or within a five -mile radius of, Mountain View.
First responder s include Police and Fire emergency responders (Firefighter/Paramedic, Fire Engineer, Fire Captain, Battalion Chief, Deputy Fire Chief, Police Officer, Police Sergeant, Police Lieutenant, Police Captain, Public Safety Dispatcher I, II, III, Lead Public Safety Dispatcher, Public Safety Dispatch Coordinator, Exhibit A
CITY COUNCIL POLICY
SUBJECT:
MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION
ASSISTANCE PROGRAM
NO.: D-13
and Emergency Communications Manager ) and Public Works/Public Services employees designated to respond to calls for service as defined in the City’s after - hours Duty Program set forth in the Memorandum of Understanding between the Service Employees International Union (SEIU) and the City of Mountain View. New or reclassified positions may be designated by the City Manager as first responders.
For All Employee and First Responder loans, the maximum loan amount will be adjusted annually, beginning in December 2019, bas ed on the annual change (December to December) in the Consumer Price Index for All Urban Consumers (CPI-U) in the San Francisco-Oakland-Hayward urban area.
Department Heads and Council Appointees:
Loan of up to the median home price in Mountain View or 75% of the sales price, whichever is lower, to assist with purchasing a home in Mountain View; or a loan of up to 25% of the sales price, to a maximum of median home price in Mountain View, for a home within a five-mile radius of Mountain View.
The employee must establish a minimum equity in the property equal to at least 10% of the total purchase price of the residence. At the City Manager’s discretion, equity in the property may be reduced to 5% for unusual circumstances. In the case that the City’s loan does not exceed $500,000, a minimum equity in the property is not required.
For department heads, if the participant requires a second loan on the property, it is the City’s preference for any additional loan to be subordinate d to the City’s loan ; however, after good-faith attempts to do so are unsuccessful, the City Manager may approve a secondary lien position for the City’s loan.
b. Source of Loan Funds:
For All Eligible Participants:
The funding source for the loan programs will be determined based on availability of funding and approved by City Council.
CITY COUNCIL POLICY
SUBJECT:
MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION
ASSISTANCE PROGRAM
NO.: D-13
c. Loan Terms and Repayment:
• Loan term is not to exceed 30 years.
• Fixed interest rate will be determined based on the Applicable Federal Rate (AFR) at the time the loan is issued, for all loans.
• The eligible participant may make interest -only payments for up to three years at the start of the loan. Participants may request up to four additional years of interest-only payments, to a maximum of seven years, which will be evaluated and considered as set forth in the procedural guidelines.
• For interest -only payment option , when principal payments commence, the principal will be amortized over the remaining life of the loan.
• The City will be repaid in full upon the sale or transfer of the property.
• The purchased property must be the primary residence of the employee and may be a single-family home, townhouse, rowhouse, or condominium.
• The home cannot be rented.
d. Loan Repayment Upon Separating from the City:
• Upon a participant’s separation from the City, the full loan must be paid within 12 months. I f the loan is repaid within six months, the interest rate will not change. For repayment after six months, the interest rate will increase by 1%.
• Additional time for repayment may be allo wed in hardship situations, as approved by the City Manager or designee.
e. Relocation Assistance
• The following positions may request relocation assistance: department heads, Council appointees, assistant directors, and division managers or a positio n designated by the City Manager, or designee, as a hard-to-fill position.
CITY COUNCIL POLICY
SUBJECT:
MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION
ASSISTANCE PROGRAM
NO.: D-13
• Relocation assistance may be requested for a move occurring within one year of date of appointment.
• For a mov e more than 10 miles but less than 25 miles, up to $4,500 in reimbursement will be provided upon receipt and approval of documentation of reasonable and necessary moving expenses.
• For a move greater than 25 miles, up to $6,500 reimbursement will be provided upon receipt and approval of documentation of reasonable and necessary moving expenses . In addition, reimbursement for temporary housing, within five miles of Mountain View, at a rate of up to $100 per day for no more than 60 days, upon receipt and approval of documentation of such temporary housing.
• Reimbursements will be administered in accordance with procedures set forth by the Finance and Administrative Services Department and IRS regulations .
Reimbursements may be a taxable benefit and subject to tax withholdings.
• The maximum reimbursement amount will be adjusted annually, beginning in December 2019, based on the annual change (December to December) in the Consumer Price Index for All Urban Consumers (CPI -U) in the San Francisco - Oakland-Hayward urban area.
PROCEDURE:
The guidelines for this program shall be developed by staff and approved by the City Manager.
CITY COUNCIL POLICY
SUBJECT:
MOUNTAIN VIEW EMPLOYEE HOMEBUYER AND RELOCATION
ASSISTANCE PROGRAM
NO.: D-13
The City Council will authorize housing and/or relocation assistance for Council appointees under this Policy. The City Manager will authorize housing and/or relocation assistance for all other employees under this Policy.
Revised: ____________, 2022, Resolution No. _______
Revised: May 14, 2019, Resolution No. 18324
Revised: January 19, 2010
Revised: June 9, 2009
Effective Date: December 2, 2008, Resolution No. 17348
CNLPOL
D13-CP