ACTION REQUESTED:
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Communication from the City Manager and the Community Development Director with a Request to Concur with the Recommendation from the East Village Growth Cell Tax Increment Financing Economic Development Advisory Committee, and the East Village Growth Cell TIF Redevelopment Plan and Project, to APPROVE the AMENDMENT to the EAST VILLAGE GROWTH CELL (EVGC) Housing Program and Associated Program Guidelines.
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BACKGROUND:
The EVGC Housing Program was approved by Council on August 25, 2015. 2016 was the first year the program was available to residents. The East Village Growth Cell Tax Increment Financing District (TIF) Housing Program is a 50/50 matching grant program, which provides up to $15,000 of assistance to property owners of single-family residential, owner-occupied properties (duplexes and mixed use structures are excluded from the program) for permanent building and site improvements on parcels within the boundary of the East Village Growth Cell TIF. The purpose of the Program is to increase the owner-occupancy rate, improve the outward appearance of homes, and increase the assessed valuation of properties within the East Village Growth Cell Boundary.
The following provides a summary of the applications received for 2016:
* 68 applications were received.
o 21 applicants chose not to move forward with their proposed project.
o 32 applications were approved and decided to proceed with proposed work:
* 16 completed projects
* 10 in progress
* 6 approved but not yet started
o 15 applicants on the wait list for 2017.
Overall, the Program went well for the first year; however, there were a few issues that arose, which have prompted the proposed changes to the Program. The following is a summary of the issues that were encountered during the first year of the Program:
* Property owners not having money available at time of application or even at time of notice to proceed (waiting until the 90 day window to start is about to...
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