pf_03202 - Laserfiche WebLink

Home

~ ~ Housing Replacement Program (H RP) Po rchase and Red ev el opment Guideli nes Amended April 1 01 2000 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. The City can implement the Program by: Option 1: purchasing substandard homes and selling the lot to a licensed builder or individual for the construction of new single family, owner occupied home, or for other residential uses that meet the objectives of the Comprehensive Plan; or Option 2: providing a low interest loan to Roseville residents, up to a maximum of $10,000, for the demolition of a substandard home to make it economically feasible to construct a new single family, owner occupied home, or for other residential uses that meet the objectives 0 f the Comprehensive Plan. Contract Requirements: Option 1: The Buyer must submit a proposal for reuse of the lot. City staff will then review the proposals and make a recommendation to the Cotmcil/HRA. If the proposal is chosen by the Council/HRA, the homebuilder will be required to enter into a participation agreement with a non-refundable, non-binding fee of $500 which will provide the builder exclusive right for a maximum of 60 days to enter into a contract for private development. During the participation period, the builder and City staff will negotiate the tenns of a Purchase and Redevelopment Agreement or Contract for Deed which will outline builder requirements and housing design and site criteria. If the negÇ>tiation fails and an agreement is not executed, the $500 participation fee in non-refundable and the participation agreement becomes null and void. Within the maximum 60-day participation period, City staff will Page 1 II! 1- III - - -- n- I iii 1..111 - -