Reso 2011-161 - Laserfiche WebLink

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♦ Housing Rehabilitation Program The Housing Rehabilitation Program, which improves the City's housing stock and assists seniors to age in place, provides low-interest rehabilitation loans of up to $35,000 for single- family homes. This program provided five (5) loans funded solely with Redevelopment Housing Set Aside Funds in FY 2010-2011. Two (2) loans were for extremely low-income senior households, while three (3) loans were for senior households with very low -incomes. The Housing Rehabilitation Program, which also offers six (6) types of grant programs for minor home repairs, provided thirty (30) grants solely from Redevelopment Housing Set Aside Funds, for lower-income homeowners in FY 2010-2011. Of these thirty (30)j -its, fourteen (14) were for extremely low-income, twelve (12) were for very low-mcomq and four (4) were for low- income. Twenty-two (22) grants were for seniors. The break4o n for the types of grants, including combination grants, is as follows: • 11 Mobile home repair • 7 Minor home repair • 3 Minor home repair/paint • 2 Minor home repair/clean-up • 1 Minor home repair/window replacement • 2 Minor home • 1 Minor home • 1 Minor home repair/seismic r' • 1 Minor home repair/insulation • 1 Exterior Paint ♦ Section 8 Prog The City supports Leandro residertsIACA certificates � i X011 by sevi; eight (78) Priority. Assist lovhnd of the Houses Authority of Alameda County's (HACA) Gvoucher and certificates that can be used by San Celioii 8 vouchers and seventeen (17) Shelter Plus number or, ection 8 vouchers that were provided increased est year's count of 1,310. te-income first-time homebuyers. Activities ., ♦ Mortgage Crft=Cert>licate Program The City participate ° tk� Alameda County Mortgage Credit Certificate (MCC) Program and provides pro -rated adT istrative funding for the program. The MCC Program provides income - eligible first-time homebuyer the opportunity to reduce the amount of federal income tax (equal to 15% of the mortgage interest payments) they owe each year they own and live in their home. This federal income tax reduction increases a household overall income and ability to qualify for a higher first mortgage loan with no effect on monthly expenses. From July 1, 2010 through June 30, 2011, six (6) San Leandran homebuyers received MCC assistance to purchase a home. DRAFT Consolidated Annual Performance and Evaluation Report: FY 2010-2011 City of San Leandro Page 6