Agenda 11/27/2001 - Laserfiche WebLink

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o Be LESS than the estimated market value of the property including land after reconstruction. A worksheet MUST be submitted to DHCD that provides the cost comparisons listed above. Attached to the worksheet MUST be (1) the rehab cost estimate (or description of the structural defect making the property unsuitable for rehabilitation), (2) the comparable newly constructed house information, (3) the basis for the cost estimate of construction of the reconstructed house, and (4) a copy of the statement of the projected appraised value of the reconstructed house. The substantially reconstructed home may be either: (1) stick-built; or (2) a modular home meeting BOCA code. The owner must be allowed to select which option will be provided. VII. OTHER PROGRAM GUIDELINES Basic decisions regarding the R.P. Thomas Neighborhood Housing Rehabilitation program design and administration will be made by the City Council. The City Council has appointed five (5) members of a Housing Rehabilitation Advisory Board to assist the Project Manager in overseeing all program activities and to assure that they are carried out fairly and in conformance with the program design. The Housing Rehabilitation Program Board consists of the City Manager, one (1) City Council member, the City's Project Manager, a local bank representative, and one (1) representative of the R.P. Thomas Neighborhood who is a non-beneficiary. The City Council may elect to appoint additional members to the Board who are non-beneficiary neighborhood residents. The Board will approve all contractors, applications, bids, and contract awards; and will resolve complaints. Also, the Board will review the program design and advise City Council on necessary revisions during the course of implementation, serve in an advisory capacity in reviewing applications and work write-ups for bidding and contract awards, review the current list of eligible contractors for bidding on the project and assist the City in securing additional participation from qualified contractors, and be responsible for investigating and recommending additional housing assistance programs for the City of Martinsville. Basic guidelines of the program are outlined below: · Construction-related soft costs (e.g. application intake and processing, inspections, blower door tests, etc.) will be limited to 10 percent (10%) of construction costs. · The program will not benefit moderate-income persons to the exclusion of low- income persons. 10