Texas 2009 - 81st Regular

Texas Senate Bill SR702 Compare Versions

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1	1	SENATE RESOLUTION NO. 702
2	2	WHEREAS, The Senate of the State of Texas is pleased to
3	3	recognize the Owner-Builder Loan Program, which is better known
4	4	as the Texas Bootstrap Loan Program, on the occasion of its 10th
5	5	anniversary; and
6	6	WHEREAS, Created during the 76th Legislature by Senate
7	7	Bill 1287, authored by Senator Eddie Lucio, Jr., and administered
8	8	by the Texas Department of Housing and Community Affairs, the
9	9	Texas Bootstrap Loan Program was designed to promote and enhance
10	10	home ownership opportunities for low-income Texans; and
11	11	WHEREAS, Through this program, certified nonprofit
12	12	organizations work with low-income Texans to build affordable,
13	13	single-family homes; participating families contribute 60
14	14	percent of the "self-help" labor toward building a new home or
15	15	rehabilitating an existing home; in exchange for this sweat
16	16	equity, which dramatically drives down the cost of construction,
17	17	the department provides a zero-interest mortgage loan that
18	18	families can afford; and
19	19	WHEREAS, Since the program's inception, nonprofit
20	20	organizations, in partnership with the department, have
21	21	leveraged more than $20 million from other funding sources, such
22	22	as private lending institutions and units of local government;
23	23	over the last decade, the Texas Bootstrap Loan Program has helped
24	24	more than 850 Texas families become home owners; and
25	25	WHEREAS, The program was established to assist the poorest
26	26	among us to obtain a home and to live out their lives in decency
27	27	and with security; today many low-income and middle-income
28	28	families across the nation are faced with foreclosure; the Texas
29	29	Bootstrap Loan Program is an example to the nation of how state
30	30	funding and legislative ingenuity can enable the American Dream
31	31	to thrive, even in the poorest communities; and
32	32	WHEREAS, Texans pride themselves on the ability to pull
33	33	themselves up by their bootstraps; for 10 years, the Texas
34	34	Bootstrap Loan Program has embodied this attitude, becoming a
35	35	national model for self-help housing and proving that even
36	36	families with the lowest incomes can, with support, build their
37	37	own homes and achieve the American Dream; and
38	38	WHEREAS, For the last decade the legislature and the Texas
39	39	Department of Housing and Community Affairs have supported the
40	40	Texas Bootstrap Loan Program and the Housing Trust Fund, enabling
41	41	hardworking families across the state to help themselves build
42	42	their own homes and transform the lives of their families and
43	43	communities; now, therefore, be it
44	44	RESOLVED, That the Senate of the State of Texas, 81st
45	45	Legislature, hereby commend the Texas Bootstrap Loan Program on
46	46	10 years of cooperative effort that have led to home ownership
47	47	and hope for hundreds of deserving Texas families; and, be it
48	48	further
49	49	RESOLVED, That the Senate of the State of Texas, 81st
50	50	Legislature, hereby commend the Texas Department of Housing and
51	51	Community Affairs for its successful decade-long administration
52	52	of the Texas Bootstrap Loan Program; and, be it further
53	53	RESOLVED, That a copy of this Resolution be prepared in
54	54	honor of this special occasion.
55	55	Lucio
56	56	________________________________
57	57	President of the Senate
58	58	I hereby certify that the
59	59	above Resolution was adopted by
60	60	the Senate on April 23, 2009.
61	61	________________________________
62	62	Secretary of the Senate
63	63	________________________________
64	64	Member, Texas Senate