HomeMy WebLinkAboutReso. 1989-272 - Approving amendment to the rehabilitation loan policy RESOLUTION NO. 39'272
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING AMEND-
MENT TO THE REHABILITATION LOAN POLICY ADOPTED BY CITY COUNCIL RESOLUTION
NO. 75-86.
WHEREAS, the City of Redding has adopted a rehabilitation loan policy by
City Council Resolution No. 75-86 and amended it by Resolution Nos. 76-36,
1 77-135, 77-189, 78-223, 78-235, 78-240, 79-46, 79-106, 80-240, 83-52, 84-79,
84-233, 86-134 and 88-19; and
WHEREAS, the City Council deems it to be in the best interest of the
citizens of the City of Redding that the rehabilitation loan policy be further
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amended as set forth in Exhibit "A" attached hereto; and
WHEREAS, it has been determined that this matter is categorically exempt
from the provisions of CEQA;
NOW, THEREFORE, BE IT RESOLVED that the amendments to the rehabilitation
loan policy attached hereto as Exhibit "A" are hereby approved and adopted.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at
a regular meeting of the City Council of the City of Redding on the 15th day
of A gust , 1989, and was duly adopted at said meeting by the
following vote:
AYES: COUNCIL MEMBERS: Buffum, Dahl , Fulton, Johannessen, & Carter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
2140.‘
SCOTT CARTER, Mayor
City of Redding
ATTEST:
ETHEL A. NICH LS, City Clerk
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FORM APPROVED:
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RAND4 L A. HAYS, Ci y A orney
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EXHIBIT "A"
Amendment No. 14 to City of Redding Rehabilitation Loan Policy.
Section 4 - Description of Loan Programs.
A. Amortized Loans
4. Amount
Amend b. $X$1000 $23 , 000 for homeowners;
Amend c. The loan amount may be increased up to a maximum
of $2$ '000 $32 ,000 on homeowner loans in those
cases where the cost to repair the code violations
exceed the $X$1000 $23 ,000 loan limit. These
loans are for code items only and do not include
general property improvements.
Add d. These limits also apply to the Partial Deferred
Payment loans and Deferred Payment loans for
Elderly and/or Disabled.
Section 5 - Eligible Costs
Amend b. Rehabilitation Objectives . . . . After the property
has been rehabilitated to conform with the Housing
Rehabilitation Standards, additional loan money
not to exceed 40% of the total loan, /$ LWOOf
On.410¢3W/X /X0 0i may be used for the following
General Property Improvements.
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