2009-10-20_Agenda - Laserfiche WebLink

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4.02 The Association will be required to pay all third party costs incurred by the City of Roseville in connection with the HIA if the HIA does not go forward for any reason. If the HIA does go forward, the City will pay its third-party costs from the administrative charge described in Section 5.02. 4.03. The Association will be required to enter into contracts for construction of the housing improvements, subj ect to review and approval of designs and specifications by the City or RHRA as the implementing entity. The Association will be required to demonstrate that it obtained at least three bids for work on the housing improvements, and all contracts must be with contractors who are licensed and insured. 5. 0 HIA FINANCING 5.01 Appropriate methods for funding the improvements in an HIA include: A. City-issued bond B. Existing City fund balances C. Roseville Housing and Redevelopment Authority fund balances 5.02 The Association will pay the city an assessment fee of 2% of the total amount of proj ect to cover administrative costs. This amount may be financed over time by adding to the fee, or the City may elect to finance the administrative charge through proceeds of bonds or an internal loan. 5.03 The division of the costs for the proposed improvements (i.e., how the fee is spread to unit owners) shall follow the method utilized in the Association's by- laws and declarations, except that if the Associations by laws and declarations call for the fee to be imposed on a basis other than tax capacity or square footage, the City Council must make a finding that the alternative basis is more fair and reasonable. 5. 0 ROSEVILLE HOUSING AND REDEVELOPMENT AUTHORITY 5.01 Staff from the Roseville Housing and Redevelopment Authority (RHRA) along with the City of Roseville Finance Director will be the primary staff persons working on HIA requests. 5.02 RHRA funds may be utilized to fund the improvements to take place in a HIA if both the City Council and RHRA Boards authorizes the use of such funds. 5.03 If it is determined that RHRA funds will be used, the City Council will still be required to make the findings of need regarding the creation of the HIA; adopt an ordinance establishing the HIA; and designate the RHRA as the implementing agency.