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Roseville SHRP Program (04/17/2007) - Page 2 of 2 a. Maintaining the current requirement for a two person or more family with one child under the age of sixteen; b. Lifting the requirement on a case-by-case basis; c. Removing this eligibility criteria after a property has been on the market for a set period of time; or d. Eliminating the family-with-children criteria as a requirement for the program. 2.2 According to Carolyn Olson of GMHC, Roseville is the only program participant that has instituted a requirement that homebuyers must have a child under the age of sixteen living at the residence to qualify. 3.0 Staff Recommendations 3.1 The purpose of the Senior Housing Regeneration Program is to help maintain the vibrancy of neighborhoods and communities by helping seniors sell their homes and provide an avenue to homeownership to low- to moderate-income families. Vacant homes do not contribute to the activity and health of neighborhoods and, in fact, often have deleterious effects. If an eligibility requirement developed by the HRA is contributing to a home not being sold and going uninhabited, it is somewhat antithetical to the outcomes desired by the HRA. 3.2 In addition, for every month a home purchased by GMHC is on the market, $1,000 of holding costs are accrued. 3.3 As such, staff recommends that the HRA remove the requirement that the all homebuyers must have a household of two or more with one child under the age of sixteen if a property goes unsold after three months on the market. 4.0 Suggested HRA Action 4.1 By motion, approve a change in the homebuyer requirement for the Senior Housing Regeneration Program, administered by the Gr eater Metropolitan Housing Corporation, to allow individuals or families without a child under sixteen to purchase homes under this program if the property goes unsold after three months on the market. Prepared by: Jamie Radel (651-792-7072)