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RDA AG PKT 2003-08-25 #C
4 d0 , P AGENDA REPORT 4 //' o o o k • r, DATE: August 25, 2003 el-2Q e. TO: Chairperson and Members of the Redevelopment Agency THRU: John B. Bahorski, Executive Director 4 11) FROM: Lee Whittenberg, Director of Development Services SUBJECT: REQUEST FOR DIRECTION TO PURSUE ADDITIONAL FUNDING SOURCES — HOME IMPROVEMENT PROGRAMS {'- SUMMARY OF REQUEST: Authorize staff to pursue alternative funding sources as outlined in the Staff Report to utilize for program activities. Approve the necessary resolutions for the preparation of the required application package for the CalHome Program, instruct staff to pursue additional funds through the County of Orange Community Development Block Grant Program, and instruct staff to continue to meet with impacted applicant's to respond to additional questions and concerns of program applicants. Receive and File Staff Report. BACKGROUND: Staff is presenting this report to provide updated information regarding the success of these programs and the problems currently experienced due to a lack of available funding • to continue to fund projects that are almost ready for final approvals and execution of the s • appropriate documents between program participants and the Redevelopment Agency. At this time, the Redevelopment Agency has exhausted all available funds for the various rehabilitation loan and grant programs and mortgage assistance programs. Thus, the Agency will not be able to authorize funding of any pending applications until further notice. Funds for these programs have always been available on a first -come, first serve basis. Due to the large number of applications that have been received, the state budget crisis and the delay in the State funding of a loan, there are no available un- obligated funds at the present time. At this time the greatest potential funding source for the continuation of all of the various grant, loan and mortgage assistance programs is the potential approval of an "MPROP" loan by the State of California. At the time the Agency issued bonds to provide financing of the RO#9 AGENDA ITEM C Z:\My Documents\RDA\Home Imp Program Procedures\Program Status Report.RDA Staff Report.doc \LW\08 -14 -03 Request For Direction To Pursue Additional Funding Sources - '' Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 acquisition of the Seal Beach Trailer Park, the State offered a $1,000,000 loan to assist in the purchase. Due to processing time, the Agency contributed a $1,000,000 "bridge loan" to complete the purchase, with the understanding that, when and if the MPROP loan funded, such funds would be used to repay the Agency the bridge loan. At this time it is extremely uncertain as to the potential of the Agency to ever receive those funds. The approval of the MPROP Loan is contingent upon approval by 2 /3rds of the residents within the Seal Beach Trailer Park. At the time of the purchase in 2000, apparently a sufficient number of residents had provided their consent to the MPROP loan. However, since the sale of the park, lawsuits against the purchaser and seller have been filed and some residents have withheld their consent to the MPROP loan. If the approval by the residents of the Seal Beach Trailer Park is granted within the time period required by the State of California, (all necessary application materials to be provided to the State in a time frame in order for the State to approve the MPROP loan by November 1, 2003), those MPROP funds are then scheduled to be re- deposited into the Redevelopment Agency's Low and Moderate Income Housing Set -Aside Fund, and then deposited back into the various loan programs for the funding of those projects already in the pipeline. The funding of the MPROP Loan by the State of California and the depositing of those funds with the Redevelopment Agency would then allow the Agency to fund all pending applications. Again, this appears highly unlikely at this time. Due to high demand for the program, there will be no substantial funds available for additional project funding until Fiscal Year 2005 -2006 at the earliest, or approximately July, 2005. City staff will be aggressively pursuing various state programs that may be able to provide funds to allow for continued funding of those projects that are currently impacted by the lack of available funds. A total of 10 applicants are unfortunately subject to the suspension of the program at this - time due to the lack of funds. There are 4 applicants within the Seal Beach Trailer Park and 6 applicants throughout the remainder of the community. Following is the current status of these program participants: ❑ 4 have selected a contractor to proceed with the work, and have executed a contract with the selected contractor ❑ 3 have received bids from contractors and have not selected a contractor, and ❑ 3 are in the process of receiving bids from contractors. The total funding for those projects placed in suspension at this time is estimated to be $509,200. Receipt of the MPROP funds will completely fund those projects and have additional funding of approximately $400,000 for future program participants. Staff has sent letters to program participants explaining the current situation and expressing the apology of the City for this situation. Understandably, those program participants that cannot proceed are quite upset, and the letter expresses the City's apology for having to inform them of this situation. A copy of this letter is provided as Attachment 1 for the information of the Agency members. Program Status Report.RDA Staff Report 2 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 All projects that have formally executed contracts and other required program documents by the Redevelopment Agency Executive Director will be able to proceed to completion. A copy of a letter sent to the project participants whose projects will be completed is provided as Attachment 2 for the information of the Agency members Provided as Attachment 5 is a copy of the Agency Staff Report of May 28, 2002 for the information of the Agency and public. The Agency approved the "Home Improvement Program Guidelines" at that time. Overview of Additional Funding Sources Identified by Staff: CalHome Program (State of California Department of Housing and Community Development): Staff has investigated this program and is recommending that the Redevelopment Agency authorize staff to prepare an application for funding under this program. A complete application must be submitted to the State by October 8, 2003. Since the Redevelopment Agency and City Council will not be meeting between this evening and September 22, it is requested that both the Agency and City Council direct staff to take the appropriate actions to be taken by both bodies for staff to complete the application materials in a timely manner. The program guidelines do not allow an applicant with a population of less than 400,000 persons to request total funding of more than $500,000.00. Staff intends to request $498,000.00. . Provided below is information from the State of California Department of Housing and Community web page regarding the CalHome Program: • - "Purpose Enable low and very -low income households to become or remain homeowners. Assistance Type Grants to local public agencies and nonprofit developers to assist individual households through deferred - payment loans. Direct, forgivable loans to assist development projects involving multiple ownership units, including single - family subdivisions. Note: CalHome does not loan directly to individuals. Terms Grants to local public agencies or nonprofit corporations for first - time homebuyer downpayment assistance, home rehabilitation, Program Status Report.RDA Staff Report 3 Request For Direction To Pursue Additional Funding Sources — s Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 including manufactured homes not on permanent foundations, acquisition and rehabilitation, homebuyer counseling, self -help • mortgage assistance programs, or technical assistance for self -help homeownership. All funds to individual homeowners will be in the form of loans. Loans for real property acquisition, site development, predevelopment, construction period expenses of homeownership development projects, or permanent financing for mutual housing and cooperative developments. Project loans to developers may be forgiven as developers make deferred payment loans to individual homeowners. Assistance to individual households will be in the form of deferred - payment loans, payable on sale or transfer of the homes, or when they cease to be owner - occupied, or at maturity. Eligible Activities Predevelopment, site development, and site acquisition for development projects. Rehabilitation, and acquisition and rehabilitation, of site -built housing, and rehabilitation, repair and replacement of manufactured homes. Downpayment assistance, mortgage financing, homebuyer counseling, and technical assistance for self -help. Eligible Applicants ' ' Local public agencies and nonprofit corporations." This program provides the flexibility to provide a comparable program to that offered by the Redevelopment Agency. None of the impacted program participants are requesting mortgage assistance, and therefore the requested application for funding will be only for the rehabilitation program assistance. As indicated in the "Notice of Funding Availability" ( "NOFA ") for this program: , "The CalHome Program Regulations represent the outcome of the CalHome Program's operational experience over the past three years, and they were greatly influenced by feedback from the recipient's of previous CalHome Program awards. A very important feature of the new CalHome Program Regulations is increased flexibility to allow for varied local program design. The Department realizes that CalHome funds will often be only one of the subsidies required to make homeownership available to low and very- income households. The CalHome Program regulations Program Status Report.RDA Staff Report 4 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 recognize that programs which provide subsidy beyond the CalHome Program funds may need to attach resale controls and recapture provisions to the resale of the assisted units. These resale controls and /or recapture provisions are allowed in mortgage assistance transactions which include CalHome Program Loans and additional forms of subordinate financing provided by the recipient." Provided below is a brief summary of the directions being requested by staff this evening: ❑ Redevelopment Agency: ❑ Authorize staff to proceed with the preparation of the necessary application materials for the CalHome Program; ❑ Adopt Resolution No. , requesting from the City Council a loan of not to exceed $3,500 from the City General Fund to allow for CivicStone to prepare the required application materials; ❑ Adopt Resolution No. , authorizing the submittal of the CalHome application by the Executive Director of the Redevelopment Agency and authorizing the Executive Director to take all actions necessary and appropriate to execute the application for $498,000 for rehabilitation program funding, the required Standard Agreement, and all other documents required by HCD fro participation in the program. ❑ City Council: ❑ Adopt 'Resolution No. , agreeing to a loan to the Redevelopment Agency of not to exceed $3,500 from the City General Fund to allow for CivicStone to prepare the required application materials, and setting forth the terms and conditions of the re- payment of said loan. County Orange Community Department Block Grant Program: Staff has also contacted the County of Orange Department of Housing and Community Development regarding potential funding sources available to the City through the Community Development Block Grant Program. The City has utilized this program in the past for "emergency rehabilitation and repair" work as certain specific problems have arisen in the community in the past. Exploratory discussions have been held with County staff, and it appears there be some limited funds available. These funds in all likelihood will be available for the repair of health and safety aspects of a project that are considered to be "emergency" in nature, and in all probability will not be able to fund the entire scope of many of the projects that are in suspension at this time. Staff is continuing to explore funding availability with the County of Orange, and has no certain answers from the County at this time. However, these funds will allow the most critical aspects of a project that deal with health and safety issues to proceed without the uncertain timing involved with the potential use of MPROP repayment or CalHome program funds. Program Status Report.RDA Staff Report 5 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 FISCAL IMPACT: The lack of available funds for the program implementation has resulted in the suspension of the program at this time. All projects that have formally executed contracts and other required program documents by the Redevelopment Agency Executive Director will be able to proceed to completion. Projects that have not received formally executed documents by the Executive Director of the Redevelopment Agency are suspended until such time as funds are again available within the Redevelopment Agency Low- and Moderate - Income Housing Set -aside Fund. Potential funding sources of supplemental funds to allow the program to continue have been identified by Staff. A proposed allocation of loan funds in an amount not to exceed $3,500 from the City General Fund to the Redevelopment Agency is necessary to allow the application for CalHome funds to be submitted to the State Department of Housing and Community Development. Existing staff resources will be allocated to pursue potential funding for project implementation with the County of Orange and the State of California Department of Housing and Community Development. RECOMMENDATION: Authorize staff to pursue alternative funding sources as outlined in the Staff Report to utilize for program activities. Approve the necessary resolutions for the preparation of the required application package for the CalHome Program, instruct staff to pursue additional funds through the County of Orange Community Development Block Grant Program, and instruct staff to continue to meet with impacted applicant's to respond to ' additional questions and concerns of program applicants. Receive and File Staff Report. NOTED AN ' APPROV ./ /I / • Whittenberg John B Bahorski, Executive Director Director of Development Services Rede : opment Agency Attachments: (5) Attachment 1: Letter to Program Participants re: Program Suspension — Seal Beach Home Improvement Programs Program Status Report.RDA Staff Report 6 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 Attachment 2: Letter to Program Participants re: Program Status — Seal Beach Home Improvement Programs Attachment 3: Resolution No. , A Resolution of the Redevelopment Agency of the City of Seal Beach Requesting and Confirming a Loan from the City of Seal Beach, Accepting Said Loan on the Terms Established, and Authorizing Redevelopment Agency Budget Amendment Number 04 -01 For The 2003/2004 Fiscal Year Attachment 4: Resolution No. , A Resolution of the Redevelopment Agency of the City of Seal Beach Authorizing the Filing of an Application for Funding under the CalHome Program and Authorizing the Executive Director to Execute All Documents Necessary to Participate in said Program Attachment 5: "Approval of Home Improvement Program Guidelines ", Redevelopment Agency Staff Report, dated May 28, 2002 Program Status Report.RDA Staff Report 7 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 _ ATTACHMENT 1 LETTER TO PROGRAM PARTICIPANTS RE: PROGRAM SUSPENSION - SEAL BEACH HOME IMPROVEMENT PROGRAMS • Program Status Report.RDA Staff Report 8 Request For Direction To Pursue Additional Funding Sources - ' Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED AND FIRST CLASS MAIL August 13, 2003 (Program Participant Address) SUBJECT: PROGRAM SUSPENSION — SEAL BEACH HOME IMPROVEMENT PROGRAMS I understand the information in this letter may come as a shock and disappointment to you and cannot apologize strongly enough for having to inform you and your family of this situation. At this time, the Redevelopment Agency has exhausted available funds for the various rehabilitation loan and grant programs and mortgage assistance programs. Thus, the Agency will not be able to authorize funding of your application until further notice. As you know, funds for these programs have always been available on a first -come, first serve basis. Due to the large number of applications that preceded your application, the state budget crisis and the delay in the State funding of a loan, there are no available funds at the present time. During this fiscal year, the only remaining potential funding source for the continuation of all of the various grant, loan and mortgage assistance programs is the potential approval of an " MPROP" loan by the State of California. As you may be aware, at the time the Agency issued bonds to provide financing of the acquisition of the Seal Beach Trailer Park, the State offered a $1,000,000 loan to assist in the purchase. Due to processing time, the Agency contributed a $1,000,000 "bridge loan" to complete the purchase, with the understanding that, when and if the MPROP loan funded, such funds would be used to repay the Agency the bridge loan. At this time it is extremely uncertain as to the potential of the Agency to ever receive those funds. The approval of the MPROP Loan is contingent upon approval by a certain percentage of the residents within the Seal Beach Trailer Park. At the time of the purchase in 2000, apparently a sufficient number of residents had provided their consent to the MPROP loan. However, since the sale of the park, certain residents have filed lawsuits against the purchaser and seller and have withheld their consent to the MPROP loan. If the approval by the residents of the Seal Beach Trailer Park is granted within the time period required by the State of California, (all necessary application materials to be provided to the State in a time Program Status Report.RDA Staff Report 9 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 frame in order for the State to approve the MPROP loan by November 1, 2003), those MPROP funds are then scheduled to be re- deposited into the Redevelopment Agency's Low and Moderate Income Housing Set -Aside Fund, and then deposited back into the various loan programs for the funding of those projects already in the pipeline. The funding of the MPROP Loan by the State of California and the depositing of those funds with the Redevelopment Agency would then allow the Agency to fund all pending applications, including your application. Again, this appears highly unlikely at this time. Due to high demand for the program, there will be no substantial funds available for additional project funding until Fiscal Year 2005 -2006 at the earliest, or approximately July, 2005. City staff will be aggressively pursuing various state programs that may be able to provide funds to allow for continued funding 6f those projects, like yours, that are currently impacted by the lack of available funds. Please contact my office at your earliest convenience to schedule a private meeting with me to discuss this situation in greater detail. I understand the deep disappointment this will place on you and wish to avail myself to discuss these matters on an individual and private basis. Please understand that we are taking every step possible to find funds so that more applications may be processed and approved; however, without the MPROP funding and the State "takeaways ", there does not appear to be any other sources of funds. Please do not contact CivicStone, as these decisions are decisions of the Redevelopment Agency and cannot be modified or changed in any manner by CivicStone. I can be reached at (562) 431 -2527, extension 313, or by e-mail at 1whittenberg @ci.seal- beach.ca.us. Sincerely, e Whittenberg Director of Development Services Cc: City Manager City Council CivicStone Program Status Report.RDA Staff Report 10 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 ATTACHMENT 2 LETTER TO PROGRAM PARTICIPANTS RE: PROGRAM STATUS - SEAL BEACH HOME IMPROVEMENT PROGRAMS Program Status Report.RDA Staff Report 1 1 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 August 13, 2003 (Program Participant Address) SUBJECT: PROGRAM STATUS — SEAL BEACH HOME IMPROVEMENT PROGRAMS This letter is provided to answer any questions you may have regarding the status of your ongoing work that is funded by the Redevelopment Agency and overseen by CivicStone. Your project is completely funded and will be able to be completed in accordance with the approved plans. Due to the large number of applicants seeking assistance, the Redevelopment Agency has exhausted available funds for the various rehabilitation loan and grant programs and mortgage assistance programs. Thus, the Agency will not be able to authorize funding of any additional applications until further notice. Fortunately, there are funds for your project and other projects that obtained all necessary approvals. The City has informed the impacted applicants of this unfortunate situation and wanted to provide you assurance that your project is not impacted by this situation. Please contact my office if you have any questions regarding the status of your project, or of the overall program status. I can be reached at (562) 431 -2527, extension 313, or by e- mail at lwhittenberg @ci.seal - beach.ca.us. Sincerely, 7r ee' hittenberg Director of Development Servi - s Cc: City Manager City Council CivicStone Program Status Report.RDA Staff Report 12 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 ATTACHMENT 3 RESOLUTION NO. , A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH REQUESTING AND CONFIRMING A LOAN FROM THE CITY OF SEAL BEACH, ACCEPTING SAID LOAN ON THE TERMS ESTABLISHED, AND AUTHORIZING REDEVELOPMENT AGENCY BUDGET AMENDMENT NUMBER 04 -01 FOR THE 2003/2004 FISCAL YEAR Program Status Report.RDA Staff Report 13 Request For Direction To Pursue Additional Funding Sources — s Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 RESOLUTION NO. a.-oz, A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH REQUESTING AND CONFIRMING A LOAN FROM THE CITY OF SEAL BEACH, ACCEPTING SAID LOAN ON THE TERMS ESTABLISHED, AND AUTHORIZING REDEVELOPMENT AGENCY BUDGET AMENDMENT NUMBER 04 -01 FOR THE 2003/2004 FISCAL YEAR WHEREAS, at this time, the Redevelopment Agency has exhausted all available funds for the various rehabilitation loan and grant programs and mortgage assistance programs. Thus, the Agency will not be able to authorize funding of any pending applications until further notice, and WHEREAS, funds for these programs have always been available on a first -come, first serve basis. Due to the large number of applications that have been received, the state budget crisis and the delay in the State funding of a loan, there are no available un- obligated funds at the present time, and - WHEREAS, a total of 10 applicants are subject to the suspension of the program at this time due to the lack of funds. There are 4 applicants within the Seal Beach Trailer Park and 6 applicants throughout ' the remainder of the community, and WHEREAS, staff has investigated the CalHome Program of the State of California Department of Housing and Community Development and is recommending that the Redevelopment Agency authorize staff to prepare an application for funding under this program, and WHEREAS, a proposed allocation of loan funds in an amount not to exceed $3,500 from the City General Fund to the Redevelopment Agency is necessary to allow the application for the CalHome program funds to be submitted to the State Department of Housing and Community Development. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY Program Status Report.RDA Staff Report 14 Request For Direction To Pursue Additional Funding Sources - r Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 OF SEAL BEACH DOES HEREBY RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS: 1. Requests from the City Council a loan of not to exceed $3,500.00 from the City General Fund to allow for CivicStone to prepare the required application materials for the CalHome Program. 2. Said loan shall be the amount of $3,500.00 and shall be repayable to the City in two annual installments of $1,750.00, plus the interest rate obtained by the City for investment into the Local Agency Investment Fund (LAIF) per annum commencing July 1, 2004. 3. The Agency will accept said loan from the City Council on the terms set forth in Section 2, above. 4. Upon receipt of said loan funds the Agency adjusts the Riverfront Project Area - Low and Moderate Income Housing Fund, Contract Professional Services account as set forth below: CURRENT PROPOSED BUDGET DEPT ACCOUNT BUDGET BUDGET AMD (DIFF) Redevelopment Agency — Riverfront Project Area Low and Moderate Income Housing Fund Contract Prof. Services 061 - 081 -44000 $ 0 $3,500 $3,500 PASSED, APPROVED AND ADOPTED by the Redevelopment Agency of the City of Seal Beach at a meeting thereof held on the day of , 2003. AYES: Agencymembers NOES: Agencymembers ABSENT: Agencymembers ABSTAIN: Agencymembers Program Status Report.RDA Staff Report 15 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 Chairman ATTEST: • City Clerk STATE OF CALIFORNIA } COUNTY OF ORANGE } SS CITY OF SEAL BEACH } I, Joanne M. Yeo, City Clerk of Seal Beach, California, do hereby certify that the foregoing resolution is the original copy of Resolution Number on file in the office of the City Clerk, passed, approved, and adopted by the Redevelopment Agency of the City of Seal Beach, at a regular meeting thereof held on the day of , 2003. Joanne M. Yeo, City Clerk/Secretary Seal Beach Redevelopment Agency Program Status Report.RDA Staff Report 16 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 ATTACHMENT 4 RESOLUTION NO. , A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH AUTHORIZING THE FILING OF AN APPLICATION FOR FUNDING UNDER THE CALHOME PROGRAM AND AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY TO PARTICIPATE IN SAID PROGRAM • Program Status Report.RDA Staff Report 17 Request For Direction To Pursue Additional Funding Sources - r Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 RESOLUTION NO. a -5-, A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH AUTHORIZING THE FILING OF AN APPLICATION FOR FUNDING UNDER THE CALHOME PROGRAM AND AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY TO PARTICIPATE IN SAID PROGRAM WHEREAS, the Redevelopment Agency of the City of Seal Beach, a political subdivision of the State of California, wishes to apply for and - receive an allocation of funds through the CaiHome Program; and WHEREAS, the California Department of Housing and Community Development (hereinafter referred to as "HCD ") has issued a Notice of Funding Availability ( "NOFA ") for the CalHome program established by Chapter 84, Statutes of 2000 (SB 1656 Alarcon), and codified in Chapter 6 (commencing with Section 59650) of Part 2 of Division 31 of the Health and Safety Code (the "statute "). Pursuant to the statute, HCD is , authorized to approve funding allocations utilizing monies made available , by the State Legislature to the CalHome program, subject to the terms and conditions of the statute and the CalHome Program Regulations adopted by HCD on July 15, 2003; and WHEREAS, the Redevelopment Agency of the City of Seal Beach wishes to submit an application to obtain from HCD an allocation of CalHome funds in the - amount of $ 498,000. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS: Section 1. The Redevelopment Agency of the City of Seal Beach hereby authorizes the submittal of an application to the California State Department of Housing and Community Development for funding under the CalHome program; the execution of a standard agreement if selected for such funding and any amendments thereto; and any related documents necessary to participate in the CalHome program. • Program Status Report.RDA Staff Report 18. Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 Section 2. The Redevelopment Agency of the City of Seal Beach shall submit to HCD an application to participate in the CalHome Program in response to the NOFA issued on July 16, 2003, which will request a funding allocation for the following activity: a. Owner Occupied Rehabilitation Program - for rehabilitation of owner- occupied homes and mobilehomes within the City. The amount of $498,000 is requested for this program activity. Section 3. If the application for funding is approved, the Redevelopment Agency of the City of Seal Beach hereby agrees to use the CalHome funds for eligible activities in the manner presented in the application as approved by HCD and in accordance with program regulations cited above. It also may execute any and all other instruments necessary or required by HCD for participation in the CalHome Program. Section 4. The Redevelopment Agency of the City of Seal Beach authorizes the Executive Director of the Redevelopment Agency of the City of Seal Beach, or his designee to execute in the name of the Redevelopment Agency of the City of Seal Beach, the application, the Standard Agreement, and all other documents required by HCD for participation in the CalHome Program, and any amendments thereto. PASSED, APPROVED AND ADOPTED by the Redevelopment Agency of the City of Seal Beach at a meeting thereof held on the day of , 2003 by the following vote: , AYES: Agency Members - NOES: Agency Members ABSTAIN: Agency Members ABSENT: Agency Members CHAIRMAN ATTEST: Program Status Report.RDA Staff Report 19 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 SECRETARY STATE OF CALIFORNIA } COUNTY OF ORANGE } SS CITY OF SEAL BEACH } I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California, and Secretary to the Seal Beach Redevelopment Agency, do hereby certify that the foregoing resolution is a true and full copy of Resolution Number on file in the office of the City Clerk, passed, approved, and adopted by the Redevelopment Agency of the City of Seal Beach, at a regular meeting thereof held on the day of , 2003, which has not been altered, amended or repealed. Joanne M. Yeo, City Clerk/Secretary Seal Beach Redevelopment Agency Program Status Report.RDA Staff Report 20 Request For Direction To Pursue Additional Funding Sources — Home Improvement Programs Redevelopment Agency Staff Report August 25, 2003 ATTACHMENT 5 "APPROVAL OF HOME IMPROVEMENT PROGRAM GUIDELINES ", REDEVELOPMENT AGENCY STAFF REPORT, DATED MAY 28, 2002 Program Status Report.RDA Staff Report 21 rPF E p rp " AGENDA REPORT DATE: May 28, 2002 TO: Chairperson and Members of the Redevelopment Agency THRU: John B. Bahorski, Executive Director FROM: Lee Whittenberg, Director of Development Services • SUBJECT: APPROVAL OF HOME , IMPROVEMENT PROGRAM GUIDELINES SUMMARY OF REQUEST: Staff recommends that the Redevelopment Agency approve the proposed "Home Improvement Program Guidelines for the City of Seal Beach ", establishing program guidelines and funding for four different housing programs structured to assist the low -to- moderate income residents of the City of Seal Beach. BACKGROUND: Approval of the recommended "Home Improvement Program Guidelines" will, implement the provisions of the 2000 -2005 AB 1290 Implementation Plan approved by the Agency on April 22, 2002. It is necessary to approve the Home Improvement Program to establish program guidelines, funding levels, and implementation mechanisms. Overview of Previously Adopted Home Improvement Program: - In 1998, the City of Seal Beach wanted to improve the aging homes existing within the community, using the "housing set -aside funds" of the Redevelopment Agency. A plan was developed and in July 1998 the Redevelopment Agency Board approved the Seal Beach "Home Improvement Program" (the "HIP "). The HIP was designed to: ❑ Stabilize and improve the existing housing stock of the City ❑ Utilize the State mandated low to moderate income Housing Set -Aside Funds for those purposes. The Housing Set -Aside Funds must be used only for the creation and/or preservation of affordable housing in accordance with the provisions and requirements of the California Health and Safety Code. The City's HIP utilized these set -aside funds to buy -down the conventional interest rate on the home improvement loan to a more affordable level for the homeowner. While the HIP bought the interest rate down, the U.S. Department of Agenda Item C:\My Documents \RDA \2002 Housing Assistance Program.RDA Staff Report doc \LW\05 -01-02 Approval of Horne Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 Housing and Urban Development (HUD) Title One Loans provided the owner with a loan for the full amount of the improvements. This allowed the City to leverage the set - aside funds for greater benefit to the community. After the HIP was approved, it was launched and aggressively promoted through a variety of advertising avenues: cable TV, newspapers, community newsletter, mailed flyers as well as storefront flyers. Initially there was a lot of interest and phone inquiries about the program. However, there were some inherent obstacles in transferring this interest into actual home renovation. From the volume of calls, only 30 property owners initially qualified for City assistance and completed a HIP application. Of those 30, only 5 (or 16 %) actually completed improvements to their home. Furthermore, in November of 2000, HUD suspended the Title One Loan Program; consequently eliminating the major source of funding for the HIP. Staff has analyzed the obstacles to HIP 's success and restructured the program to increase homeowner participation and expand the types of homeowner assistance programs, thereby improving the quality of housing in the City of Seal Beach. Outlined below are HIP's previous obstacles and their successful resolution for your review. Previous Program Obstacles: 1. Housing Set -Aside Funds require the County income figures to dictate the income limits on this program. As a result, Orange County's income limits must be used to determine eligibility for Seal Beach residents. The problem is the median income for most residents of Seal Beach is substantially higher than the median income for Orange County. As a result, many interested Seal Beach residents. could not qualify for assistance because their incomes were higher than the dictated limits. 2. The program was initially designed to offer a 3% loan to the lowest income households (80% or below median income homeowner) but an 8% loan to the higher income households (120% or below median income homeowner). Staff discovered the lowest income households could not afford any monthly loan repayment amount, so they were unable to utilize the program. On the other hand, the higher income households felt an 8% loan was not very competitive (conventional interest rates: 11 -13 %) and decided against utilizing the program. There was a cash rebate of 52,500 for exterior improvements offered, but it was contingent upon the rehab loan and consequently underutilized. 3. In order to move forward with the lengthy application process, the resident was required to coordinate the bidding process, and take a very active role in the implementation of the needed home repairs. For a variety of reasons, this was an intimidating and difficult request for many of the residents. As a result, the application process became time consuming and discouraging for the homeowner. 2002 Housing Assistance Program.RDA Staff Report 2 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 Overview of Proposed Home Improvement Programs: The Agency has an existing fund balance of $711,339 in the Housing Set -Aside Fund including the 2000/2001 set -aside funds referenced above, which will increase to $1,711,339 in the event the MPROP Loan is funded and the Agency is reimbursed for the "bridge loan" approved as part of the Seal Beach Trailer Park acquisition. The $1,711339 and the projected set -aside fund amounts for Fiscal Years 2001/2002 through 2004/2005 total approximately $2,800,000. That amount is shown to be expended in Table 1, Five -Year Housing Assistance Goals - 2000 -2005, of the "Home Improvement Program ", provided as Attachment 1. A. Proposed Owner - Occupied Home Improvement Loan Program: The income limit restriction of the Housing Set -Aside Funds continues to challenge many owner - occupant residents. However, the loan repayment schedule has been restructured to make it more affordable to the lowest income households and more attractive to the higher income homeowners (see Attachment 1, Table 2, Five -Year Home Improvement Program Goals, 2000- 2005): ❑ The new program structure has eliminated the monthly loan payment, which will help the lowest income residents. The new loan is deferred until the homeowner sells or refinances the property or a change in title occurs. After .10 years, 1 /10th of the principal and interest is forgiven each year until it is entirely forgiven. ❑ The Owner- Occupied Home Improvement Loan Program is funded entirely by Housing Set -Aside Funds and offers a very low interest rate of 2% to all - , income - qualified program participants, which will be more attractive to the higher income households. ❑ The maximum available loan amount has increased from $25,000 to $50,000, which will allow for more substantial home improvements. ❑ Owner occupied single - family residences, mobile homes, and condominiums will qualify for this program. ❑ This program is only available for non - substantial levels of rehabilitation (less than 25% of the after -rehab value). Substantial rehabilitation requires a different set of loan terms and criteria. B. Proposed Home Improvement Grant Program: The previous $2,500 Exterior Beautification Grant been replaced with an Owner - Occupied Home Improvement Grant Program which offers up to $10,000 in exterior improvements and health and safety /energy improvements. Any income- qualified, owner- occupied, resident wishing to undertake exterior beautification and/or health or safety improvements can qualify for this grant. It is anticipated that if Code Compliance discovers health and/or safety violations in a particular residence, they will refer income - qualified owners to this program. 2002 Housing Assistance Program.RDA Staff Report 3 > Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 The Horne Improvement Loan Program and the Home Improvement Grant Program are not contingent upon each other and can be funded separately. C. Proposed Substantial Rehabilitation /Replacement Loan Program (Seal Beach Trailer Park): The Substantial Rehabilitation/Replacement Loan Program, will assist income- qualified owners of Mobile Homes within the Seal Beach Trailer Park. This program is designed to provide substantial rehabilitation to dilapidated mobile homes and improve health and safety living conditions for those Seal Beach residents within the Trailer Park. Severely distressed mobile homes may be eligible for replacement funding based upon the recommendation of Code Enforcement and/or the Building Department. Staff recommends that income - qualified applicants could obtain a loan of up to $50,000. Recent State regulations regarding the use of Housing Set -Aside funds dictate that "substantial rehabilitation loans" be deferred and also require an affordable covenant be recorded on the property for at least 45 years. The regulations further state that the Agency must receive equity share repayment instead of an interest rate on these loans. This means that if the property sells to a non - qualified buyer within the 45 -year covenant, the Agency will receive a percentage of the property equity as loan repayment. Several of the mobile homes in the City are in need of repair and are believed to have a variety of exterior and/or interior code violations. Utilizing the Housing • Set -Aside Funds, these homes will be brought up toto current Code requirements. ' D. Mortgage Assistance Loan Program: This program is designed to assist new buyers with up to 20% down payment assistance in purchasing condominiums or mobile homes in the City of Seal Beach. The loan is funded through Set -Aside Funds with a maximum loan amount of $35,000. State regulations also require this type of funding to have a 45 -year affordable covenant placed on the property as well as an equity share repayment plan. Staff recommends that the principal loan amount on both the Substantial Rehabilitation/Replacement Loan and the Mortgage Assistance Loan Program be entirely forgiven at year 10, while the equity share repayment will remain in effect the entire 45 years. F. Administration 2002 Housing Assistance Program.RDA Staff Report 4 ' Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 CivicStone, the City's housing program consultant, will develop a set of procedures and application forms for these revised guidelines. CivicStone will also take a more active role in helping the homeowner through the HIP process; making the application process more manageable and attractive to the Seal Beach homeowner. CivicStone will also track, monitor, administer and report to the City on the intricacies and details of the revised HIP. This will accelerate the application, bidding, loan and construction processes as well as eliminate lender, construction and homeowner delays. CivicStone will: ❑ Qualify the property owners' applications for eligibility, based upon program guidelines. ❑ Interview contractors, check references, verify city and state requirements and develop a contractor's.list. ❑ Work with homeowners to develop a Scope of Work for contractors to • submit competitive bids. ❑ When required by the Planning Department, CivicStone will refer homeowners to qualified architecture companies for preparing construction plans. ❑ Conduct the competitive bid process and review the bids with the homeowners. ❑ . Assist the property owners with the loan process. ❑ Regularly inspect the properties and when appropriate approve the contractor progress payments. ❑ Ensure proper grant/loan documentation is provided to the Agency for each project funded through the HIP. Upon Agency approval of the Home Improvement Program, staff and CivicStone will develop the necessary procedures and application forrns for these revised guidelines. Initiation of program activities will begin as soon as possible. . FISCAL IMPACT: No impact to City General Fund. All program activities are funded through the Redevelopment Agency Housing Seat -Aside Fund, Account Number 061 - 081 - 45050. RECOMMENDATION: Staff recommends that the Redevelopment Agency approve the proposed "Home Improvement Program Guidelines for the City of Seal Beach ", establishing program guidelines and funding for four different housing programs structured to assist the low -to- moderate income residents of the City of Seal Beach. 2002 Housing Assistance Program.RDA Staff Report 5 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 NOTED AND APPROVED: e Whittenberg John B. !•rski, Executive Director D irector of Development Services Redevelop lent Agency Attachment: "Home Improvement Program Guidelines ", • : • evelopment Agency of the City of Seal Beach, May 28, 2002 • • 2002 Housing Assistance Program.RDA Staff Report 6 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 HOME IMPROVEMENT PROGRAM GUIDELINES . REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH MAY 28, 2002 2002 Housing Assistance Program.RDA Staff Report 7 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 CITY OF SEAL BEACH HOME IMPROVEMENT PROGRAM GUIDELINES Program Authorization and Intent: This Horne Improvement Program was approved by the Redevelopment Agency of the City of Seal Beach on April 22, 2002. These programs are proposed to comply with the provisions of the State of California regarding the use of Redevelopment Agency "Housing Set - Aside" funds. The programs have been designed to assist identified groups of low- and moderate - income persons and families that reside or are anticipated to reside within the City of Seal Beach over the time period of 2000 -2005. These programs do not propose the use of funds for new construction of living units within the City, with the exception of the replacement program for living units within the Seal Beach Trailer Park. All of the other programs are proposed to assist current residents, both owners and renters, to the greatest extent possible, who would qualify under the various program guidelines established within the Seal Beach Home Irnprovement Program Guidelines. The Redevelopment Agency of the City of Seal Beach has approved the following programs for implementation by the Redevelopment Agency staff and appropriate consultants (Program Guidelines are summarized on Table 2): - A. Home Improvement Programs: 1. - Owner- Occupied Home Improvement Programs: (a) Home Improvement Loan Program: Eligible Properties: This program is available to owner - occupants of - single family homes, condominiums and mobile homes (trailers). Loan Amount and Terms: Maximum deferred loan amount of $50,000.00. If property is sold to qualified buyer, that buyer will assume repayment terms. If property is sold to a non - qualified buyer within first 10 years, full principal amount plus 2% interest due upon sale. If property is sold to a non - qualified buyer in years 10 -20, 1 /10th of principal and interest forgiven for each year after 10th year. Upon sale of property the pro -rated amount of principal and interest is due. Principal and interest completely forgiven on 20 -year loan anniversary. • 2002 Housing Assistance Program.RDA Staff Report 8 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 Eligible Improvements: Any improvements to the home. This program is only available for non - substantial levels of rehabilitation (less than 25% of the after -rehab value). Substantial rehabilitation requires a different set of loan tenns and criteria. Available Funding: $ 900,000.00 Note: $ 500,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge -loan is reimbursed. (b) Home Improvement Grant Program: Eligible Properties: This program is available to owner - occupants of single family homes, condominiums and mobile homes (trailers). Loan Amount and Terms: Maximum grant amount of $10,000.00. Grant forgiven after 3 years. Resale restriction during first three years: if property is sold to a non - qualified purchaser, the grant amount is paid to the Agency out of the sale proceeds. Eligible Improvements: Any improvements to the home. This program is only available for non - substantial levels of rehabilitation (less . than 25% of the after -rehab value). Substantial rehabilitation requires a different set of loan terms and criteria. Available Funding: $ 100,000.00 , 2. Tenant Ownership of Seal Beach Trailer Park/Rehabilitation - Replacement of Existing Units Eligible Properties: This program is available to owner - occupants of mobile homes (trailers) within the Seal Beach Trailer Park. Loan Amount and Terms: Maximum deferred loan amount not to exceed $50,000.00. Each property has 45 -year affordable covenant. Full principal is forgiven on 10 -year loan anniversary. If property is sold to, qualified buyer, that buyer will assume repayment. If property is sold to non - qualified buyer within first 10 years, the full principal plus equity share is due upon sale. Agency to receive equity share if home is sold to non - qualified buyer before 45 -year covenant expires. Eligible Improvements: Any improvements to mobile home are eligible. Replacement of entire housing unit must be approved by City Building and Code Enforcement Departments. • 2002 Housing Assistance Program RDA Staff Report 9 Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 1002 Available Funding: $ 500,000.00 Note: $ 100,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge -loan is reimbursed. Tenant Ownership /Rental Assistance: To ensure the long -term preservation of Seal Beach Trailer Park as an important affordable housing resource, the City worked with LINC Housing, a nonprofit housing organization, to pursue tenant ownership of the park. The City was awarded by the State Department of Housing and Community Development (HCD) a $20,000 Technical Assistance grant to facilitate conversion of the park to tenant ownership. Through the issuance of a revenue bond by the Agency, approval of a MPROP Loan by the State of California and subsequent loan to LINC housing, conversion of the park to tenant ownership was completed in December 2000. Among the 125 units, 25 units have been deed - restricted as housing affordable to very low income households and 75 units have been deed - restricted as housing affordable to low /moderate income households. In addition, the City _ provides ongoing rental assistance to offset the monthly rent increase necessary to repay the bond. The rental assistance is for a period of 12 years with a maximum funding commitment of $ 965,000.00, and a maximum yearly commitment of $ 120,000.00. • 3. Mortgage Assistance Loans Eligible Properties: This program is available to qualified purchasers of- owner-occupied single family homes, condominiums and mobile homes (trailers). Loan Amount and Terms: Deferred Loan. Buyer pays all closing costs. 45 -year affordable covenant on property. Full principal amount forgiven on 10 -year loan anniversary. If property is later sold to qualified buyer, that buyer will assume repayment terms. Agency to receive equity share whenever home is sold to non - qualified buyer before 45 -year covenant expires Eligible Improvements: None, program is designed to provide up to 20% of purchase price for down payment. Maximum $35,000 deferred loan amount. Available Funding: $ 700,000.00 Note: $ 405,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge -loan is reimbursed. 2002 Housing Assistance Program.RDA Staff Report 10 ' Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 B. Housing Production and Assistance Goals Table 1 provides estimates in terms of number of households to be assisted and amount of housing set -aside fund to be expended over the five -year period (2000- 2005) of this Home Improvement Program. Table 1 , Five -Year Housing Assistance Goals - 2000 -2005 Households Set -Aside Funds Program Assisted to be Expended 1. Home Improvement Program 20 $ 1,000,000 2. Tenant Ownership of Seal Beach Trailer Park Acquisition of Park (Loan) 120 ($1,000,000) Rental Subsidy for 5 Years2 25 $ 600,000 Replacement/Rehabilitation 10 $ 500,000 3. Mortgage Assistance Loans 20 $ 700,000 Total 65 $ 2,800,000 Notes: 1. The $1,000,000 loan to LINC for acquisition of the park will be repaid back to the Agency within the time frame of this Home Improvement Program. These funds are proposed to be expended upon receipt and within the time frame of this Home - Improvement Program. 2. Total Rental Subsidy is for 12 Years and will be allocated in future plans as appropriate. ' Total subsidy is not to exceed $965,000.00 3. $ 500,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge. loan is reimbursed. 4. $ 100,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge loan is reimbursed. 5. $ 400,000 of funding for this program will not be available until the MPROP Loan is funded by the State of California and the Agency bridge loan is reimbursed. The Agency has discretion to re- allocate funding levels among the various programs identified above, with the understanding that the allocated funds must total the $ 2,800,000 indicated. In addition, the Agency needs to allocate funds to the proposed programs in such a manner as will allow the Agency to comply with the following requirements: ❑ 70.2 percent of the housing set -aside funds would need to be expended to assist housing for persons with very low and low income during the duration of this Home Improvement Program. ❑ 62.5 percent of the housing set -aside funds must be expended on housing that is available to families with children. 2002 Housing Assistance Progrsm.RDA Staff Report 1 1 • Approval of Home Improvement Program Guidelines Redevelopment Agency Staff Report May 28, 2002 C. Program Implementation: CivicStone, the City's housing program consultant, will develop a set of procedures and application forms for implementation of the above - described programs. All procedures and application forms shall be reviewed and approved by the Executive Director of the Redevelopment Agency of his/her designee. CivicStone will also take a more active role in helping the, homeowner through the HIP process; making the application process more manageable and attractive to the Seal Beach homeowner. CivicStone will also track, monitor, administer and report to the City on the intricacies and details of the revised HIP. This will accelerate the application, bidding, loan and construction processes as well as eliminate lender, construction and homeowner delays. 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