Rehabilitation Review Committee

MINUTES OF THE REHAB REVIEW COMMITTEE MEETING DECEMBER 9, 2009 8:45 AM Members Present: Chairman Rodney Bowie, Joe East, Kevin Lin, and Susan Goldman Others Present: Denise Blake and Linda Lee Smith Chairman Rodney Bowie called the meeting to order at 8:57 a.m. Motion was made by Susan Goldman to accept the minutes of the November 18, 2009 meeting as amended to include Jim Troeger and Denise Blake as in attendance. Joe East seconded the motion. The motion carried unanimously. Old Business None New Business Recently the committee had voted to reduce the 80% loan-to-value requirement for homeowners applying to the Property Rehab Program to 0% equity requirement. Homeowners currently looking to subordinate their original rehab loan with the City are required to have an 80% loan-to-value on their homes to be able to refinance. Rodney Bowie made a motion to allow all persons seeking to subordinate their mortgages to be at 0% equity requirement. Joe East seconded the motion. The motion carried unanimously. A homeowner has applied for funding and is on a tax payment plan. The CD Office wanted further clarification from the Committee. The Building Dept. has a policy that requires their taxes have to be paid before pulling a building permit. The consensus of the committee was in the past and presently not to accept anyone who owes taxes to the City or is on a tax payment plan. New Applications All projects listed as RLP qualify for lead and/or property rehab funds, are current in property taxes, have met income requirements and are recommended for approval. Joe East made a motion seconded by Sue Goldman to approve the following applications for the maximum lead/rehab funding as follows: RLP 0905 Owner-Occupied $17,440 (Rehab) $13,000 (Lead) RLP 0906 Owner-Occupied $40,000 (Rehab) $26,000 (Lead) Motion carried unanimously. Adjournment Motion was made by Joe East to adjourn. Kevin Lin seconded the motion. The motion carried unanimously. The Rehab Review Committee meeting adjourned at 9:16 a.m.