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Home My WebLink AboutURA RES 2000-01RESOLUTIONNO. ) WHEREAS, Idaho Development and Housing Organization (LD.A.H.O.) has submitted a Project that conforms to Urban Renewal Plan goals; and WHEREAS, The Project is located within the Urban Renewal Project area; and WHEREAS, I.D.A.H.O.has requested funding to accomplish the Project. NOW, THEREFORE, BE IT RESOLVED: 1. That the Project for Low Interest Housing Rehabilitation is hereby approved. 2. That the Chairperson and Secretary of the Urban Renewal Board are hereby authorized to execute the Agreement on behalf of the Board. PASSED BY THE URBAN RENEWAL BOARD of the City of Caldwell this 1 0 A day of _ Q c _, 2000. r: y Chairpe on ATTEST: '= F. APR 05 '00 09�00AM JEr_ y REAL ESTATE ( P.3i4 s Caldwell Urban Renewal Plan Housing Component Program Goals and Budget Through December 31, 2000 Rehab Step #1 Problem: Our survey has identified a number of run-down homes owned by low-income residents that desire to improve their home. However, conventional sources of money make a rehab program too expensive for homeowners. Solution: Promote USDA RD 504 Program (1% interest loan) that targets residents who are low-income and over the age of 62. Area of focus: Urban Renewal areas and down Blaine and Cleveland via: door-to-door visits, mailers in water bills (8x in the next 12 months), radio, newspaper articles, implementation of Fair Housing Marketing plan (required by Federal sources), provide initial point of contact for interested homeowners, and provide bi-monthly seminars to residents to explain the program. We will also partner with Consumer Credit Counseling to bring potential participants to a credit worthiness that qualifies them for rehab programs. All advertisements/presentation will be bl-Iingual/bl-cultural, over the next several months showing Urban Renewal, Rural Development and IDAHO partnership. Ms. Roni Atkins, State Housing Director for Rural Development, has agreed to draw down more funds from the federal level, should our marketing use up the State of Idaho's usual allocation. HUD's 203k Rehab program will also be studied and implemented within this plan. This provides low- interest rehab monies to homebuyers In the urban renewal area. No age requirement exists for the 203k program. Community Long Term Benefit: Quality of life will be boosted creating a new attitude among targeted neighborhoods. Community pride will be increased. Crime or the perception of crime activity will drop. Property values will increase. Fred's Hours: 65 IDAHO Staff Specialist#1 Hours: 505 IDAHO Staff Specialist #2 Hours: 65 Step #2 Problem: Rehab needs require other resources in addition to the RD 504 program to achieve renovation goals, Solution: Apply for both HOME funds from IHFA and AHP (Affordable Housing Program) from Federal Home Loan Bank of Seattle. IDAHO will assist the agency's committee/orgenlzatlon in obtaining funds by writing the grants to provide additional rehab monies and first-time homebuyer programs. Both deadlines are in October, 2000. Consider accessing Community Development Block Grant funds, as well. No age requirements will be placed on participants (time estimates do not Include applying for Community Development Block Grant funds). Cil RPR 05 100 09:01AM JEW—' REAL ESTATE P. 4/4 Community Long-term Benefit: We can leverage our resources via our investment of time and attract approximately $300,000 through HOME and AHP In our first year that will give additional Impetus to our housing efforts. Fred's Hours: 70 IDAHO Staff Specialist #1 Hours: 120 IDAHO Staff Specialist#2 Hours: 160 Housina Committee/Organization Problem: Housing issues are complexed and solutions so time-consuming, that a committee, hand-picked by the Commissioners, could provide assistance In handling potential programs to address identified needs within the agency plan. Solution: Development of Housing Committee/Organization--created by Urban Renewal Agency. Three-member board that IDAHO will work with will be created along with bylaws and appropriate organizational structure. One commissioner from Agency and one director from IDAHO's board, will Join another member selected by Agency to function as guides to Insure agency goals are being acheived. IDAHO will provide training to committee members on programs such as the 504 program, 203k, HOME, FHLB AHP, CDBG and other sources of funds. Community Long Term Benefit: A committee that has a local focus, will in time, serve the community efficiently, as it's knowledge base increases, Fred's Hours: 30 IDAHO Staff Specialist Hours: 20 Proaram Costs/Total Hours Fred's Hours: 165 hours x $35.58*/hr= $ 5,870.70 Specialist #1: 625 hours x $16.17/hr= $10,106.25 Specialist#2: 245 hours x $16.80/hr= 4116.00 Total $20,092.95 Marketing Costs (radio ads/duplicating/etc.) $ 2,500.00 $ 22,592.00 Incentive LID/and other expenses not covered by 504 or 203k prgrms $ 14,408.00 Grand Total $ 37,000.00 Process for billing: On the last business day of each month, IDAHO will submit to the finance director, time sheets and corresponding involctasio be paid by a monthly date established both parties. Note: Because of our participation In certain government programs that require adherence to OMB circulars 120 and 133, we are required to have a Department of Labor, Indirect Cost policy on all programs we participate In—regardless of whether they (the programs we participate in) require it or not. Hourly rates for specialists 1 and 2 are based on those rates. Mr. Cornforth's rate', as approved by IDAHO's board, Is based on a reduction in hourly rate (from $245/hr to $35.58/hr) applicable to Idaho Housing and Finance Association (IHFA) and the City of Caldwell's Urban Renewal plan only.