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Roseville Housing & Redevelopment Authority <br />Strate ic Plannin Pro ram Develo ment <br />HRA PROGRAMS <br />Pro ram Goals Action Ste s Cost 2007 Bud et 2008 <br />Roseville HRA Revolving Loan Program - Existing Combine the Roseville HRA Revolving Loan - Determine housing criteria with Loan Program has been Part of O«liership Rehab Program: <br />Provide a low interest loan for home improvements. Program with the HRA Family Affordable an emphasis on green and energy revolving with a$490,000 <br />No income limit currently Loan Program. efficient design. fund balance, however, $100,000 provided in the 2008 budget for <br />there are no funds available both code enforcement and/or loan funds. <br />Target homeowners in financial need of - Allocate appropriate level of for new loans as of <br />funds, particularly those with code violations, funding to the program. November 2007. Should provide at least $60,000 to <br />the elderly and those that are unable to secure continue the program or wait until funds <br />a conventional loan at a reasonable rate. - Create income limits and revolve to provide new loans. <br />revolving loan criteria. <br />Recommend green building improvements, <br />where necessary. <br />Roseville HRA Family Affordable Loan - Existing Combine this program with the Roseville - Meet with Realtors regarding $250,000 No new funds budgeted in 2008. <br />HRA Revolving Loan Program availability of funds for new <br />Loans up to $35,000 at a 4% interest rate. families moving to community. <br />Provide low interest loans to young families <br />Loan applicants must meet affordability income limits who wish to remain in Roseville ar those who - Evaluate other incentives such <br />(120% of AM� and have a household with at least wish to move to Roseville and make home as loan principal deferment for <br />one occupant under the age of 16. improvements. 1-5 years or reduction in <br />interestrate. <br />In addition, assessed value of home must be under <br />$251,856. <br />Multi Family Renovation — Existing Contribute to the renovation of 1-2 <br />This program is intended to assist in the renovation of multifamily complexes per year. - Raise funds by bonding for $250,000 earmarked to the $100,000 for Har Mar renovation. <br />multifamily housing within the City. renovation of multi-family HarMar renovation but not <br />ownership and rental housing issued in 2007, carried $69,250 available for matching funds for <br />The Multi Family housing stock (rental and projects. forward for 2008 budgets rental renovation grant applications. <br />ownership) in Roseville continues to age. No new through restricted fund. <br />rental housin com lex has been built since the earl - Develo uali in criteria for <br />