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8F Consent 2012 0702
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8F Consent 2012 0702
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Last modified
7/6/2012 2:38:45 PM
Creation date
6/26/2012 5:59:51 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
7/2/2012
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_CC Agenda 2012 0702 RG
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2012\Packet 2012 0702
Reso 2012-078
(Reference)
Path:
\City Clerk\City Council\Resolutions\2012
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SUMMARY OF AMENDMENTS <br />TO THE CITY OWNER- OCCUPIED HOUSING REHABILITATION PROGRAM <br />• Merge the existing six separate grants into a single minor home repair <br />grant not to exceed $5,000. <br />• Set five years as the grant application eligibility limit. <br />• Increase income eligibility for the single minor home repair grant to low <br />income (<_ 60% area median income). <br />• Allow Community Development Director discretion to approve grants <br />exceeding $5,000. <br />• Allow Community Development Director discretion to approve existing <br />Housing Rehab Program loan recipients for cash out refinancing based <br />upon documented need or hardship. <br />• Allow Community Development Director the discretion to subordinate the <br />homeowner's existing City rehab loan below second position based upon <br />documented need or hardship. <br />
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