2003-02-18_Agenda - Laserfiche WebLink

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ATTACHMENT A Planbooks Resource books that provide plan options for renovation of older homes. “Cape Code Rambler Planbook” published in 1997 and “Split-Level/Split-Entry Planbook” currently being designed logon to to follow progress.The book is scheduled to be available in the spring of 2003. 2003 $5,000. Each participating community contributed $5,000 to the design, production and printing of the planbook.A portion of that is returned through the sale of the books. Roseville already contributed their $5,000 obligation from 2002 budget. However, it is expected that additional funds of $1,500 will be requested for the printing of the book.In addition, a highlighting the Rambler Redesign projects is expected to be produced in Borders Buffers The program was developed to address code deficient properties where conflict existed between properties that could not be resolved by the property owners due to lack of funds and/or unwillingness.This program is in place of going through the long and costly court proceedings for abatement of the property. 2003 Obligations: There is no specific obligation under this program since the projects are unanticipated. However, staff estimates that $10,000 in any one year is sufficient to address any border and buffer issues.However, to manage these issues staff estimates that they can spend over 300 hours per case. Housing Replacement Program The program provides to purchase code deficient homes where the homeowner is unable to sell due to the condition of the home. Upon purchase, the home is demolished and a new home is built and resold, targeting first time homebuying families. $0 is budgeted for 2003. However, a redistribution of funds can be transferred to the account from another project on an as needed basis. HRA Start Up Fees: The City Council approved $85,000 in the housing for HRA start up (legal, fiscal, marketing, overhead, etc.) and administration fees that covers Executive Director and support staff costs. 2003 $50,000 start up funds, $35,000 administration fees. Local Development Corporation(LDC): The City Council approved the redirection of all assets and liabilities to the HRA for 2003. The LDC was established in 1988 with the purpose of securing Federal Housing and Urban Development (HUD) to establish a low interest loan program specifically for Villa Park.The purpose of the loans was to provide seniors with an alternative for financing the purchase of condominiums at Villa Park, therefore making many of the units affordable.For the City to secure the HUD funds for this purpose, HUD required the establishment of a Local Development Corporation (LDC).This enabled the City to collect the program income once the loans were paid back.The program income must be used under the HUD guidelines for low-moderate income residents. As of January the