2005-07-19_Agenda - Laserfiche WebLink

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Eligibility Requirements: 2.3 Staff is suggesting that the homes be resold with the following eligibility requirements: First Time Homebuyer Households of three or more with on child 16 years of age or younger. Income at or below 80% of median income Certified Homebuyer Training is required prior to closing Target public service employees and Roseville renters Staff Comments: 3.0 3.1If approved, the program will be marketed through the next upcoming “Housing Link” newsletter which will be inserted into the Roseville Newsletter and is delivered to all homeowners. Depending upon the partnership with Realtors, a flyer can be sent directly to them so that when they have a first time buyer looking for a home and/or a senior wanting to sell, they will be aware of this resource. Also, a direct mailer will be prepared and mailed to all Roseville renters. In addition, the following will be achieved. The program supports the HRA goal of attracting families with young children. The program supports the stabilization of Roseville School Districts. The program ensured home renovation to existing codes and modern design standards. The program would be well managed and require very little existing staff time to manage since it is administered by GMHC. Roseville seniors (such as those moving into Greenhouse Village) will be provided with a hassle-free resources for selling their home. The payback of the second mortgages upon resale will incur interest and can be put back into other programs. Suggested HRA Action 4.0 4.1By motion, approve the distribution of $200,000 to GMHC under the Senior Housing Regeneration Program for Roseville based upon the identified program criteria above and as modified by the HRA. Attachments: SHRP Brochure, Sample project costs. Prepared by: Cathy Bennett (651-792-7072) Roseville SHRP Program (07-19-05) - Page 2 of 2