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EGty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 9.1 <br /> Agenda Section Meeting Date Prepared by <br /> Work Session March 6, 2017 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> HRA Housing Rehabilitation Loan Program Cal Portner, City Administrator <br /> Targeted Area Discussion Reviewed by <br /> Action Requested <br /> Receive information on the HRA Housing Rehabilitation Loan Program and discuss the targeted area. <br /> Background/Discussion <br /> At their August 1"work session, the HRA discussed a number of options to expand the existing <br /> Rehabilitation Loan Program targeted area: <br /> ■ Expanding the targeted area to include additional older neighborhoods <br /> ■ Simply defining a minimum age of the home <br /> ■ Homes within the city limits there are at least 35 years old <br /> ■ Case-by-case basis justifying the need <br /> Staff suggested adding smaller sections into the targeted area periodically to better manage the program <br /> versus opening the program up to the city as a whole. <br /> Further discussion at their December, 6 2016, meeting,resulted in the HRA approving a new expanded <br /> targeted area for the Housing and Rehabilitation Loan Program. <br /> Staff continues to tracks calls and feedback from local residents requesting more information about the <br /> program. Within the past 6 months staff has received one inquiry just outside of the targeted area, <br /> therefore is not eligible for any program funding. <br /> ■ 18299 BOSTON ST NW <br /> The owner is looking to install new siding,windows, and eliminate the mold issues in his home. The <br /> owner indicated that he has looked into conventional loans;however, the interest rates are not as <br /> competitive as they are with the HRA Rehab Loan program. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ HRA Rehabilitation Loan Program Policy and Application <br /> ■ Targeted Area Map <br /> ■ Map of 18299 Boston Street NW <br /> POWERED 6T <br /> A IR <br />