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1998_0209_packet
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1998_0209_packet
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City of Roseville Housing Improvement Program <br /> Housing Replacement Program (HRP) <br /> Purchase and Redevelopment Guidelines <br /> February 9, 1998 <br /> Program Overview <br /> The Roseville Housing Replacement Program was approved in 1996 as a pilot program to <br /> encourage new investment and improvement to the City's neighborhoods. The purpose of <br /> the program is to facilitate the replacement of deteriorating lower value housing on <br /> scattered sites throughout the City with larger, higher value housing designed for families. <br /> To accomplish the goal of the program, the City, acting under the Housing and <br /> Redevelopment Authority (HRA),, purchases substandard homes and sells the lot to a <br /> licensed builder or individual for the construction of a new single family, owner occupied <br /> home. <br /> Contract Requirements: <br /> A homebuilder or buyer builder team must submit a proposal to construct a single family <br /> home on the lot. City staff will then review the proposals and make a recommendation to <br /> the Council/HRA. If the proposal is chosen by the Council/HRA, the hamebuilder will be <br /> required to enter into a participation agreement with anon-refundable, non-binding fee of <br /> $500 which will provide the builder exclusive right for 30-60 days to enter into a contract for <br /> private development. During the participation period, the builder and City staff will <br /> negotiate the terms of the Contract for Private Development which will outline builder <br /> requirements and housing design and site criteria. If the negotiation fails and a contract is <br /> not executed, the $500 participation fee in non-refundable and the participation agreement <br /> becomes null and void. Prior to the 30-60 participation period, City staff will bring the <br /> negotiated Contract for Primate Development to the Coundfl/HRA for final approval. <br /> Builder Reauirements. <br /> • Must be a licensed contractor and all sub-contractors must possess a license. <br /> • Demonstrate financial capabilities by providing: <br /> 1. A statement from a financial institution of sufficient constriction capital <br /> 2. A letter of credit for the value of the lot <br /> 3. A summary of financial condition of the company <br /> 4. Evidence of the ability to secure a construction loan. <br />
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