Laserfiche WebLink
<br />j "; I fT;1 I;"; r~ <br /> <br />.' ; t..: . <br /> <br />C" .:::~ 7A <br />, ; <br /> <br />Upage 9 <br /> <br /> <br />Rental Rehabilitation Loan Program offers low~interest loans to owners <br />of rental properties where, at the time of the loan, more than half of <br />the units are occupied by low-income households at affordable rents. <br /> <br />The payments from these loans support a revolving fund for future <br />rehabilitation projects. Revolving Fund Programs, including the Home <br />Improvement Loan Program, Rental Rehabilitation Loan Program, Minor <br />Home Repair Program (grant), and Historic Preservation Residential <br />loan Program, are self-supporting and administrative costs are paid <br />from annual CDBG entitlements, operating on an ongoing basis. <br /> <br />Objectives: <br />. Provide loan and grant assistance to facilitate the rehabilitation <br />of 25 rental and 20 owner-occupied units per year. <br />. Promote the use of energy conservation measures in the <br />rehabilitation of low- and moderate-income housing as part of <br />this program. <br />. Continue to allocate payments from Home Improvement and <br />Rehabilitation Loans to assist future rehabilitation projects. <br />. Continue to advertise programs on the City's website and at City <br />Hall. <br /> <br />Funding Sources: <br /> <br />Ongoing <br />Community Development Services Department- <br />Housing Division; Redwood City Home <br />Improvement Loan Committee, Redwood City <br />Redevelopment Agency <br />CDBG; Redevelopment Set-Aside; American <br />Recovery and Reinvestment Act (ARRA) through <br />HUD and other Federal agencies <br /> <br />Timeframe: <br />Responsible Agency: <br /> <br />,,4ctkwH-2: .A.cqulliition and Rehabilitation o/l:)cb.tillg HOWiing <br />The acquisition and rehabilitation of existing duplexes and apartment <br />complexes can work to guard against neighborhood deterioration <br />and provide affordable housing of reasonable quality to lower- <br />income households. Under this program, the City assists non-profit <br />organizations in the acquisition of multi-family housing for lower <br />income families, individuals, and seniors, and other special needs <br />populations. <br /> <br />Objective: <br />. Contact non-profit housing providers, such as Mid-Peninsula <br />Housing Coalition and First Community Housing, regarding the <br />City's interest in establishing partnerships in the acquisition <br />and rehabilitation of substandard rental properties. Prioritize <br />efforts to acquire foreclosed properties for conversion to <br />affordable housing. <br /> <br />~"~"f-,-..ti..., <br /> <br /> <br />rAI- [11 <br /> <br />-- <br />