05-F Owner Occ Program Design - Laserfiche WebLink

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GENERAL DEFINITIONS OWNER-OCCUPIED RESIDENCE- A property occupied by the owner which is used by a single family for residential purposes only. REHABILITATION STANDARDS- Standard Building Code as adopted by the City Council, or Texas Minimum Construction Standards, Cost Effective Energy Measures. REHABILITATION COSTS- The future costs of repairs, improvements, and other incidentals incurred by an applicant for the rehabilitation of eligible property financed by loan funds. ELIGH~ILITY INCOME- Actual annual income from all sources as stipulated and based upon 50%, and 30% of median income for the area, for all members 18 and over. ELIGIBILITY CONDITIONS- Applicants must provide the City with proof of home ownership as well as a tax statement which demonstrates taxes are either current or there is an agreement to pay back taxes in order to be grant eligible. PROGRAM GOVERNING BODY- a Housing Board established by Mayor and Council HANDICAPPED PERSON-An eligible applicant or family member who has a physical handicap(s) which disallows them the full access to their home, e.g., use wheel chair, walker or cain to get around in a home which does not accommodate this condition. REPLACEMENT HOUSING - In cases where rehabilitation of existing housing is not economically feasible, replacement housing might be constructed when owner agrees to voluntarily accept said housing on another area of their property or will voluntarily locate elsewhere so construction can take place on their lot. VOLUNTARY RELOCATION- An eligible applicant may agree to take up temporary residence in another location during rehabilitation or replacement construction. Owner will certify in writing they waive any and all benefits under the Act since the City will not be forcing the rehabilitation or replacement construction. -2-