HomeMy WebLinkAboutAGENDA REPORT 1995 0301 CC REG ITEM 11ITO:
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AGENDA REPORT '
CITY OF MOORPARK
Honorable Mayor and Members of the City Council
Steven Hayes, Economic Development Manager'
February 6, 1995 (Mtq 03/01/95)
SUBJECT: Consider Expansion of Housing Rehabilitation Program to
Homes Outside the Project Area and the Appropriate
Funding
DISCUSSION•
During the drafting of the Moorpark Redevelopment Agency's Housing
Rehabilitation Loan and Grant Program, it was found that there are
residents outside of the Redevelopment Project Area that have
exceptional circumstances and a need to participate in a program of
this type.
The Economic Development /Affordable Housing Committee
( Councilmember Patrick Hunter and Councilmember Bernardo Perez, the
ED /AHC) reviewed one such case with staff at their meeting of
November 3, 1994. The ED /AHC and staff recommended that a program
which parallels the Redevelopment Agency's program be established
and that participation be reviewed and approved on a case by case
basis.
It is suggested that funding for this be made from repayments from
the Villa Campensina affordable housing project. At present there
have been 17 Villa Campensina homes sold and the City has received
$127,500.
The program would be made available for low and very low income
families and would offer grants of $5,000, low interest loans up to
$10,000 with a combined cap of $15,000. For needs above the cap
individual case by case review and approval by the City Council
could be provided. In severe hardship cases loan deferrals could
be considered.
RECOMMENDATION:
Direct staff as deemed appropriate.
SGR155- 11/04/94
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