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12-7936
| A | | (Direct Referral) Request of the Director of City Development for authorization to participate in the First Look program of the National Community StabilizationTrust (Res. No. 12-3263) | Communication | Subject: (Direct Referral) Request of the Director of City Development for authorization to participate in the First Look program of the National Community Stabilization Trust for the acquisition of foreclosed properties for the Neighborhood Stabilization Program. (Res. No. 12-3263)
Recommendation of the Loan Board of Review on July 19, 2012: To authorize the Director of City Development to participate in the First Look Program of the National Community Stabilization Trust for the acquisition of foreclosed properties for the Neighborhood Stabilization Program, and to authorize him to make offers and close on properties offered through the program.
Fiscal Note: There is no cost to the City to participate in the program. | Recommended For Approval | Pass |
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12-7937
| A | | (Direct Referral) Request of the Director of City Development to accept the offer of Morris P. Matsen to purchase 1812 Holmes Avenue. (Res. No. 12-3264) | Communication | Subject: (Direct Referral) Request of the Director of City Development to accept the offer of Morris P. Matsen to purchase 1812 Holmes Avenue. (Res. No. 12-3264)
Recommendation of the Loan Board of Reveiw on July 19, 2012: To accept the offer of Morris P. Matsen to purchase 1812 Holmes Avenue and to authorize the Mayor, City Clerk, and Director of City Develoment to execute any documents necessary to complete the sale.
Fiscal Note: The property was acquired and rehabilitated through the NSP-1 program. The city will receive $80,000 in proceeds, minus commissions and closing costs. | Recommended For Approval | Pass |
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12-7938
| A | | (Direct Referral) Request of the Director of City Development to acquire 1721 Villa Street for rehabilitation and resale under the NSP-3 program. (Res. No. 12-3265) | Communication | Subject: (Direct Referral) Request of the Director of City Development to acquire 1721 Villa Street for rehabilitation and resale under the NSP-3 program. (Res. No. 12-3265)
Recommendation of the Loan Board of Review on July 19, 2012: To approve the request to acquire 1721 Villa Street for rehabilitation and resale under the NSP-3 program and to authorize the Mayor, City Clerk, and Director of City Development to execute any documents necessary to complete the acquisition.
Fiscal Note: Tri-City National Bank is the seller of this foreclosed property. Purchase price is $20,000. Most recent assessed value was $75,000. | Recommended For Approval | Pass |
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12-7939
| A | | Staff requests authorization to reduce loan fee for rehab project at 1543 Oak Court, owned by Jennie Goff due to project specifications. | Application | Subject: Staff requests authorization to reduce loan fee for rehabilitation project at 1543 Oak Court, owned by Jennie Goff, due to project specifications. | Approved | Pass |
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12-7940
| A | | (Direct Referral) Staff requests authorization to modify HOME grant policy. (Res. No. 12-3266) | Application | Subject: (Direct Referral) Staff requests authorization to modify HOME grant policy. (Res. No. 12-3266)
Recommendation of the Loan Board of Review on July 19, 2012: Recommend approval of the modifications to the home improvement loan matching grant policy: that the matching grant shall be no larger than the amount needed so that housing cost ratio does not exceed 41% and/or total debt ratio does not exceed 45% or $14,999 (maximum grant), whichever is less.
Fiscal Note: Grants are provided from Federal HOME funds. The change is necessary to bring the City's program into compliance with U.S. HUD guidelines and regulations. | Approved | Pass |
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12-7941
| A | | Staff requests increase of HOME grant in the amount of $4,999 for Jennie Jarstad of 1000 Cleveland Avenue | Application | Subject: Staff requests an increase of HOME grant in the amount of $4,999 (an exception to the current HOME grant limit) for Jennie Jarstad of 1000 Cleveland Avenue to obtain code compliance and lead based paint hazard remediations. | Approved | Pass |
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