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Reso 2012-078
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Reso 2012-078
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Last modified
7/6/2012 2:35:30 PM
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7/6/2012 2:35:30 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
7/2/2012
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8F Consent 2012 0702
(Reference)
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\City Clerk\City Council\Agenda Packets\2012\Packet 2012 0702
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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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