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