Rehabilitation Review Committee

MINUTES OF THE SPECIAL REHAB REVIEW COMMITTEE MEETING March 19, 2009 8:45 AM Members Present: Chairman Rodney Bowie, Jim Troeger, Joe East, Jim Roberts, and Susan Goldman Others Present: Jennifer Gottlieb, Wayne Sharkey, and Linda Lee Smith Chairman Rodney Bowie called the meeting to order at 8:49 a.m. Motion was made by Joe East to accept the minutes of the February 11, 2009 meeting. Jim Roberts seconded the motion. The motion carried unanimously. Old Business The Halfway/Boarding houses were being tabled until the next meeting. New Business Proposal on Reduction in the loan to value ratio required to participate in the Rehab Program The Community Development Office has received $1.69 million dollars for lead abatement and this funding needs to be spent in conjunction with the Property Rehab Program funds. The lead funds need to be spent over the next three years, with 50% of the funds to be spent within 24 months or the funds will be de- obligated. The Property Rehab Program Programs loan-to-value being presently at 80% would limit in some cases owner occupants from receiving rehab funds to correct the code issues. Rodney Bowie made a motion to reduce the loan-to-value eligibility criteria for owner occupied properties applying to the Rehab Program to 0%. The motion further states that owner occupants with negative equity can apply to the program and their acceptance will be determined on a case-by-case basis by the Rehab Review Committee. Joe East seconded the motion. The motion carried unanimously. Adjournment Motion was made by Jim Troeger to adjourn. Rodney Bowie seconded the motion. The motion carried unanimously. The Rehab Review Committee meeting adjourned at 9:19 a.m.