HomeMy WebLinkAboutORDINANCES - 05221984 - 1.43 TO: BOARD OF SUPERVISORS
Contra
FROM: Anthony A. Dehaesus
Director of Planning Costa
DATE: May 14, 1984 `- ou' "1
SUBJECT: Application for Deferred Payment Rehabilitation Loan Funds
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
Approve the submittal of an application for State Deferred Payment Rehabilitation Loan
Funds; and authorize the Director of Planning to certify and execute said application.
BACKGROUND
In 1978 the State created a program of deferred payment loan funds to assist low and
moderate income households in the rehabilitation of their housing. The State, through the
Depatment of Housing and Community Development (HCD), will lend funds to local
government agencies who, in turn, lend to eligible property owners. The loans are in the
form of deferred loans with 3% interest on the original principal. Local government
agencies eligible to participate in this program are those with operational housing
rehabilitation programs.
The County was a recipient of two $50,000 allocations under the first and second rounds
of allocation for this program. Fourteen loans were made under the previous programs.
The Deferred Payment Rehabilitation Loan Fund is considered to be a supplementary
source of rehabilitation financial assistance, i.e., it should not be utilized to replace local
housing rehabilitation funds. Loans made available from the Deferred Payment Loan fund
would be utilized to cover the costs of rehabilitation which are in excess of what the
County can currently provide. The two funding sources acting in tandem could result in
the County having the capabilities to assist more families in need of rehabilitation
assistance.
Administrative costs of the program cannot be paid out the the Deferred Payment Loan
Fund. The federal Community Development Block Grant funds allocated to the County
Building Inspection Department would be utilized to cover administrative costs.
Additional costs are minimal. Additional staff processing time of approximately one hour
is necessary to prepare the necessary loan documents. Monitoring of the rehabilitation
work is a current function of the program and no additional time is required. The benefits
of the additional rehabilitation funds, and the likelihood that families who might not
otherwise be able to receive financial assistance can be assisted, seem to far outweight
the small incremental costs of administration.
The State is currently soliciting Requests for Proposals from local agencies for use of
these funds in Fiscal Year 1984-85. The attachment summarizest e provisions of the
program and the application process. The Program is another sour a of funds by which
the County can provide rehabilitation assistance to low d moderat income households.
CONTINUED ON ATTACHMENT: YES SIGNATURE: ;
j
RECOMMENDATION OF COUNTY ADMINISTRATOR CO NDATION F ARD CO ITTEE
APPROVE OTHER
SIGNATURE(S) (., C iV—/Z—
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVIS ON THE DATE SHOWN.
CC: Building Inspection ATTESTED
Auditor-Controller J.R. OLSS N, COUNTY CLERK
Planning AND EX OFFICIO CLERK OF THE RD
M382/7-88 ZG BY DEPUTY