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<br />A \ttI..~-.6, <br /> <br />City of Roseville Housing Improvement Program <br />Housing Replacement Program (HRP) <br />Purchase and Redevelopment Guidelines <br />Amended June 22, 1998 <br /> <br />Program Overview <br /> <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 />The City, acting under the Housing and Redevelopment Authority,Jhe goal of the program, <br />by <br />Option 1: <br />purchasing substandard homes and selling the lot to a licensed builder or individual for <br />the construction of a new single family, owner occupied home, or <br />Option 2: <br />providing a low interest loan to Roseville residents, up to a maximum of $10,000, for the <br />demolition of a substandard home to make it economically feasible to construct a new <br />single family, owner occupied home. <br /> <br />Contract Requirements: <br /> <br />Option 1: <br /> <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 homebuilder will be <br />required to enter into a participation agreement with a non-refundable, non-binding fee of <br />$500 which win provide the builder exclusive right for a maximum of 60 days to enter into a <br />contract for private development. During the participation period, the builder and City staff <br />will negotiate the terms of a Purchase and Redevelopment Agreement which will outline <br />builder requirements and housing design and site criteria. If the negotiation fails and an <br />agreement is not executed, the $500 participation fee in non-refundable and the <br />participation agreement becomes null and void. Within the maximum 60-day participation <br />period, City staff will bring the negotiated Purchase and Redevelopment Agreement to the <br />Council/HRA for final approval. <br /> <br />Page 1 <br />