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REQUEST FOR HRA ACTION Staff Approval: � Date: 8-19-08 Item No: 8 a. Agenda Section Action Items Item Description: Roseville Multi-Family Loan Pro�ram (HF0073) 1.0 Requested Action Staff is requesting approval of a Multi-Family Rental Rehabilitation Loan Program. 2.0 Background 2.1 The RHRA had a Multifamily Housing Report completed in October of 2004. The study findings where: • Approximately 9,000 Roseville residents live in some type of multifamily housing and over 70% of them pay rent. • Fewer than 350 new units of rental apartment have been built since 1990 and the majority of the rental units are 40 or more years old. (Based upon RHRA staff review this number may even be lower than what was in the report.) • The percentage of children living in Roseville's apartment is general between 6 and 7 percent of the apartment population. Person per household is about 1.34 person per household, which is quite close to the average housing density for all of the multifamily housing in the city. • The average age of householders in the apartment is 25-34 years old. The next largest group of householders is the 35-44 year old group. These two groups combined make up nearly 60 percent of the apartment householders. • The average age of the apartment dwellers is one generally associated with childrearing, yet the average number of person per household is quite low in the apartments. This indicates that many of the residents are single individuals. The size and layout of the apartments is important here as well; the majority of the apartments are one-bedroom (nearly 60 percent of all apartments in the city are one- bedroom) and nearly 40 percent of the apartments are two-bedroom units; the remaining slivers are efficiencies and three bedroom units or larger. • There is approximately over 3,337 rental units that are not part of an age restricted building. The average number of units in each property is 48 units. We do have a fair number of buildings that are very large and small around 11 units per building. 2.1 In December 2007, the RHRA adopted its strategic plan which identified key issues that are of importance to the RHRA's mission and operations. The Long Range Goals for 2008-2012 was to develop a Multi-Family Rehabilitation loan program. 2.2 At the last meeting of the RHRA on July 15, 2008 commission members asked Staff to Roseville Mulri-Family Rental Loan Program (08-19-08) -Page 1 of 4