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2006-11-21_Agenda
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2006-11-21_Agenda
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HIA Recommendation (11-21-06) - Page 5 of 5 <br />5.0 Suggested HRA Action: <br /> <br />5.1 By motion , support the establishment of a Housing Improvement Area for <br />Westwood Village I which achieves the housing goals in the HRA Housing Plan as <br />outlined in sections 4.1 and 4.2 of this report and contingent upon the following <br />public purpose requirements being achieved. <br />5.1.1 There are inadequate association reserves to pay for the improvements <br />5.1.2 The complex includes a majority of th e owners (51%) with incomes at or <br />below 120% of median income as provide d in the self certification process as <br />returned by 70% of the owners. <br />5.1.3 The improvements are a necessary and a required maintenance item that if <br />not completed will begin to deteriorate the livability of the units as verified <br />by the City Building Inspector. <br /> <br />5.2 By motion , recommend to the City Council that if an ordinance is adopted creating a <br />Housing Improvement Area, that they designate the HRA to administer the program <br />only if they are provided with the adequate resources, through an internal loan, to <br />finance a the improvements. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Prepared by: Cathy Bennett (792-7015) <br />Attachments: City Council Memo
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