|The FY '96/97 work program for housing calls for the following:
Neighborhood Home Rehabilitation Loan Program (1.1.4/P-26)
Makes funds available for the rehabilitation of lower income
multi-family rental housing. The Program is partially funded by the
U. S. Department of Housing and Urban Development and requires
matching funds from a private lender or the CRA as a last resort.
The amount of each loan under this program and the repayment terms
are based on project feasibility.
Will assist 200 units in FY '97.
Central Business District Replacement Housing Policy (1.5.3/P-93)
CRA requires the replacement of low and moderate income housing units
which are proposed for removal by developers of projects within the
Central Business District where there is no Agency involvement.
These requirements are contained in the CBD Replacement Housing Rules
which were adopted by the City Council in 1990.
Community Redevelopment Project Area Loan Replacment Housing
This program requires that all projects by private developers which
involve housing demolition must submit a one-for-one replacement
housing Plan prior to receiving a demolition permit.
Homeownership Loan Program (3.1.5/P-3)
This program provides mortgage loans to qualifying low and moderate
income households to purchase condominiums built with CRA assistance.
Loans are secured by second trust deeds and are assumable by
subsequent qualified purchasers (may include land write downs,
construction subsidies and/or secondary financing.
The work program contemplates 100 loans in FY '97.
These funds assist low or moderate income purchasers of existing
standard units, and ongoing mortgage subsidies on behalf of low and
moderate income homeowners.
Family/Large Family Program (P-5)
The CRA allocates housing funds to family/large family units. CRA
expects to start construction/rehabilitation of 250 family and large
family rental units this fiscal year.
Housing for the Elderly
This program provides funds for the development of housing designed
to meet the specific needs of elderly persons. It typically
supplements funding from HUD under the Section 202 program. It will
assist 400 new units in FY '96.
Residential and Neighborhood Rehabilitation
These funds include $1,786,534 in Community Development Block Grant
This program provides low income homeowners with low interest
rehabilitation loans in various communities throughout the city. CRA
expects to assist 362 units in FY '95-96.
Shelter Beds Subsidy
These funds support 469 shelter beds in various locations in the City.
Transitional/Special Needs Housing
These funds will provide technical assistance to organizations
attempting to develop housing targeted toward those who have special
New Rental Housing for Families
This program will provide for the construction of 248 units of new
housing for families with incomes below 60% of the Adjusted County
Rehabilitation of Rental Housing Units
This program will assist in the rehabilitation of existing rental
units for low income persons and families. The conversion of
existing office buildings to housing is included in this category.
CRA will finance 183 units under this program in FY '96.
Housing for Persons with Physical Disabilities
This program provides funding for the construction or rehabilitation
of housing designed to meet the needs of persons with physical
disabilities. In most cases it is used in combination with HUD funds
under the Section 818 program. A total of 36 units will be assisted
in FY '96.