CCP 12-15-2003 - Laserfiche WebLink

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Reasons for Lej!islation: . 1. This legislative approach will provide the more cost effective organizational option. 2. Legislation would provide clear-cut authority to establish and fund a multi-city housing program. 3, Resources generated through this multi-city Housing and Redevelopment Authority would be limited to be used for housing program enhancements, administrative and operational costs for this collaborative housing re-investment program. Reasons for Establishing a Coalition BRA I. It is more cost effective to establish a single Coalition-wide Housing and Redevelopment Authority. Rather than funding 7 separate administrative and operating budgets there would be a single administrative charge that would be pro-rata shared among the participating communities. 2, Provide a long-term resource to address aging housing stock and create capacity to maintain existing housing stock that can result in the revitalization of member neighborhoods. Provide a consistent source of funds to assist severely distressed properties where code related items become a health or safety issue and a hindrance to neighborhood property aesthetics and value. The Coalition Board is authorized to seek support for the adoption of the attached legislation allowing the creation of a seven-city Coalition Housing and Redevelopment Authority. The Greater Metropolitan Housing Corporation also endorses the effort to secure such legislation, . U:\I-35W\2003Legislation\HRA Rationale Background Piece ]-03,doc .