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HomeMy WebLinkAboutReso. 78-235 - Approving Amendments to the Rehabilitation Loan Policy Adopted by the City Council Resolution No. 75-86 r Resolution No. IA- k A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING AMENDMENTS TO THE REHABILITATION LOAN POLICY ADOPTED BY THE 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 No. 76-36 , Resolution No. 77-135 , Resolution No. 77-189 , and Resolution No. 78-223 , 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" and Exhibit "B" , attached hereto, and WHEREAS, it has been determined that this matter is cate- gorically exempt from the provisions of CEQA, NOW, THEREFORE BE IT RESOLVED that the amendments to the rehabilitation loan policy, attached hereto as Exhibit "A" and Exhibit "B" , is 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 4th day of December , 1978 , and was duly adopted at said meeting by the following vote: AYES : COUNCILMEN : Fulton, Gard, Kirkpatrick, and Demsher NOES: COUNCILMEN : None ABSENT: COUNCILMEN: ATTEST. ONALD M. DEMSHER l Mayor of the City of Redding MILDRED L. BRAYTONT City Clerk / p: ( EARLD. ()Ay"1 EARL D. MURPHYiA Attorney lw _\ •• • Exhibit "A" AMENDMENT NO. 5 TO CITY OF REDDING REHABILITATION LOAN POLICY • Adopted December 4, 1978 - Resolution No. 78-235 • 1 . Eligible neighborhood Include the Cascade neighborhood strategy area as an area eligible for the rehabilitation loan program. 2 . Section 10 - Special Programs at page 22: Add to Section 10 - Special Programs , a new category,-No., 3 Cascade area assessment grants to read as follows: 3. Cascade area assessment grants A sewer assessment grant fund totaling $90,000 shall be established. Individual grants from this fund shall not exceed the total amount of the applicant's sewer assessment. Grants will be awarded to those applicants whose properties currently comply with the City of Redding's housing rehabilitation standards. If the property does not comply with these standards , applicants will be eligible for the grant if they bring their property into compliance with these standards. The housing rehabilitation loan program will be available for this purpose. 3. Section 3 - General eligibility requirements The second sentence under B. Owner Occupant shall be: . "Persons buying homes under land contracts are excluded from the rehabilitation loan program except in those special cases where a land contract is held by the State of California Department of Veteran Affairs. " The second paragraph under E. Use shall be: "That portion of an amortized loan used for general property improvement, as specified in Section 55 , shall not exceed $23099 or 40 percent of that total loan. " Under B. Partial deferred payment loans , No. 3, Repayment shall be: "A partial deferred payment loan shall be repaid. The non-amortized portion of the loan shall fall due and become payable at-the-end-e€ 49-years-frein-the-date-e€-the-lean-4neept4em-er upon transfer of title to the property securing the loan, whfiehever-(first-eeeers. " Section 5 - Eli gib le costs Under B. Rehabilitation objectives , No. 9 shall be: "To improve the visual quality of the neighborhood environment, landscaping of a similar quality and quantity to the rest of the neighborhood should be provided. Where-the-qual4ty-er quant*ty a€-the-landseap4Ag-4s-belew-that-geeerally-fednd-fin the-me4ghberheed7-the-€ellew4Rg-rnay-be-previded- {a}--A-raam*mum-ef-3-trees Eb1--A-max4auffl-a€-5-shrubs {e}--Grass7-4vy;-er-ether-greand-eever Under B. Rehabilitation objectives , No. 12 shall be: "A room addition may be built, altered or improved in special cases where the absence of such a-bedrees!-er-bathreem poses a serious hardship for the family. " Under D. Certain related costs , No. 8 shall be added: "Other fees as may be required. " The last sentence of the final paragraph under this section shall be: "If the loan is not approved or the application is withdrawn, advances shall be paid by the City, er-fin-eases-ef-the-elderly er-han*Peapped-w:9exe-fit- s-deterafimed-by-the-6fity-that-extreme- hardsh4p-exists-e 4. SECTION 1 - INTRODUCTION - AT PAGE 1 Increase the loan limit in the second paragraph from $12,000 to $15,000. SECTION 4 - DESCRIPTION OF LOAN PROGRAMS Under 4. 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