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REQUEST FOR HRA ACTION <br />Date: 4-21-15 <br />Item No: 9.a. <br />Staff Approval: Agenda Section: <br /> Action/Discussion Items <br />Item Description: Approval a deviation to the Roseville Home Improvement Loan <br />Program <br />Background <br />The Roseville HRA has established the Home Improvement Loan Program to assist Roseville <br />residents to make improvements to their properties. At the January 20, 2015 meeting, the HRA <br />modified the criteria for receiving a loan to include a requirement that the maximum value of the <br />home should not exceed the median home value for the City. Currently, the Roseville median <br />home value is $217,300. <br />The Home Improvement Loan Program is administered by the Greater Metropolitan Housing <br />Corporation’s (GMHC) HousingResource Center (HRC). The HRC has recently started working <br />with an applicant located at 557 Woodhill Drive. The estimated market value of this property is <br />$219,000, which is less than 1% over the maximum allowed in the program. GMHC has <br />submitted the attached request to authorize a deviation for this proposed loan (Attachment A). <br />Given the small amount that the estimated market value exceeds the City’s median home value <br />and the goal of the program to help to encourage reinvestment in the City’s residential <br />properties, Staff recommends approval of the requested deviation. <br />Suggested HRA Action <br />2.0 <br />By motion, <br />approve the requested deviation to the maximum estimated market value requirement for <br />the Roseville Home Improvement Loan Program for the applicant located at 557 Woodhill Drive. <br />Prepared by: Paul Bilotta, Community Development Director (paul.bilotta@cityofroseville.com, 651-792-7071) <br />Attachments: A: GMHC Variance Request Form <br />RHILP Deviation Request (04-21-15) - Page 1 of 1 <br /> <br />