HomeMy WebLinkAboutReso. 1986 - 134 - Approving amendment to the rehabilitation loan policy adopted by city council IN
410
ESOLUTION NO. !-Bj
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING AMENDMENT 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 , 77-135 , 77-189 , 78-223 , 78-235, 78-240,
79-46, 79-106 , 80-240 , 83-52, 84-79, and 84-233 ; 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 amended as set forth in Exhibit "A"
attached hereto; and
WHEREAS, it has been determined that this matter is categor-
ically 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 intro-
duced and read at a regular meeting of the City Council of the
City of Redding on the 2nd day of June , 1986 , and
was duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Carter, Dahl , Gard, Johannessen, & Fulton
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
LE D. LTON, M.D.
Mayor, City of Redding
ATTEST:
yy
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
RANPALL A. HAYS, C y Attorney
111 . . .
EXHIBIT "A" 0 1
Amendment No. 17 to City of Redding Rehabilitation Loan Policy.
Section 4 - Description of Loan Programs.
A. Amortized Loans
4. Amount
I
Amend b. $157888 $18 , 000 for homeowners;
Amend c. The loan amount may be increased up to a maximum
of $287888 $23 , 000 on homeowner loans in those
cases where the cost to repair the code violations
exceed the $157888 $18 , 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, or $6,000,
whichever is less, may be used for the following
General Property Improvements.