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2.3 Loan Guidelines and Application: Staff and the HRC have prepared the attached loan <br />guidelines and application form. <br />3.0 Staff Comments: <br />3.1 If approved, this program can be marketed through the next upcoming "Housing Link" <br />newsletter which will be inserted into the Roseville Newsletter and is delivered to all <br />homeowners. Flyers in the school take home folders will be created to get delivered prior <br />to the end of the school year. In addition presentations will be scheduled to get this <br />information out to Human Services providers and Roseville area Realtors so that when a <br />new family is looking to move to the area, they will be aware of this resource to make <br />any necessary repairs and/or upgrades to Roseville homes. <br />3.2 The following obj ectives will be achieved with the Roseville Home Improvement Loan. <br />• The program supports the HRA goal of providing well managed resources in order to <br />provide housing options for residents of the City of Roseville. <br />• The program supports the stabilization of Roseville School Districts. <br />• The program encourages home improvement. <br />• There is value provided when each loan is issued. The value includes stabilization of the <br />housing stock, additional tax revenue, increased permit fees and increased neighborhood <br />pride. <br />• The program would be well managed and require very little existing staff time to manage <br />since it is administered through the Housing Resource Center. <br />• The payback of the loans would provide program income to revolve back into more loans <br />and eventually become self-sufficient. <br />• City staff has a positive and tangible program to offer existing Roseville Residents that will <br />be used proactively to maintain our housing quality. <br />4.0 Suggested HRA Action <br />4.1 By motion, approve the combination of the Revolving Loan Program and the Family <br />Home Ownership Rehab Loan in order to establishment the Roseville Home <br />Improvement Loan with existing dollar amount of the funds remaining in the pool of <br />$31,712.83 and $104,962.71 along with the 2008 budget of $133,000 for ownership <br />rehab program funds. The program would be administered by the Housing Resource <br />Center and implemented immediately. <br />Attachments: Roseville Home Improvement Loan Program Application & Guidelines. <br />Prepared by: Jeanne Kelsey (651-792-7086) <br />Roseville Home Improvement Loan Program (04-15-08) - Page 4 of 4 <br />