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2006-02-21_Agenda
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2006-02-21_Agenda
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10/25/2011 8:05:06 AM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
2/21/2006
Commission/Committee - Meeting Type
Regular
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that have a Section 8 certificate with children whose adjusted gross incomes does not <br />exceed 80% of the HUD metro median income, to purchase a Rondo CLT land trust <br />home in St. Paul. <br /> <br />The pilot program will use the existing Rondo CLT HIP program guidelines and the <br />Thompson HOME program. An additional Rehab Participation Loan that can help <br />homeowners do more than $25,000 in fix-up work (deferred payments and forgiven by <br />20% over 5 years). The HIP (HOP) HOME Program has partner lenders that offer <br />community loan products for first time homebuyers purchasing a land trust property. <br />After the first three families have been served, the program will be evaluated. The <br />program will allow a low income family the oppor tunity to move from renting to purchase <br />a single-family home using the following assistance depending on the household <br />situation: <br /> $15,000 - $25,000 Equity Grant for down payment and closing costs. <br /> Up to $25,000 Rehab/Repair Grant. <br /> An Equity Participation Loan can help you afford more houses without <br />increasing your payment. <br /> A Rehab Participation Loan can help you do more than $25,000 in fix <br />up work (deferred payments and forgiven by 20% over 5 years). <br /> A Down Payment Grant can help out when you need just a little more <br />money. <br /> <br />New Construction Program <br />The Rondo CLT has built six new sustainable si ngle family houses in St. Paul. The goal <br />in using the sustainable materials on the new houses was to demonstrate that using high <br />quality materials could ensure a longer, more durable life for the house. In the past, <br />reused materials have included six panel interior doors, interior light fixtures, remilled <br />door, window and baseboard trim, hardwood floor s, exterior redwood trim and deck <br />boards and floor joists. The exteriors of the houses were clad in stucco and Hardie <br />Plank (cement fiber exterior siding) exteriors that will last 50 years. In addition, a grant <br />from the State of Minnesota allowed the installation of a solar hot water heating system <br />on one of houses that should save the homeowner up to 75% in their hot water costs. <br />One of houses was on the Twin City Home Tour. Just over 1,000 persons toured the <br />house over two days. The houses received an aw ard from the St. Paul Chapter of the <br />AIA and the St. Paul Historic Preservation Commission for “Architecturally compatible <br />and environmentally sensitive affordable housing”. <br /> <br />
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