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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 />