Laserfiche WebLink
Ten percent (10%) of liquid assets or actual interest earned shall be added to the <br />income in determining eligibility. <br /> <br />Property Eligibility <br /> <br />Property eligibility includes those structures "Suitable for Rehabilitation" that are not <br />deteriorated beyond the point that they can be brought up to HUD Section 8 Housing <br />Quality Standards (I-IQS),~ including VDHCD Supplemental Rehab Standards, within the <br />allowable $25,000 (plus allowable exceptions) in financial assistance available under this <br />program. The unit must have a life expectancy of 15 years or more after rehabilitation. <br />Properties "Unsuitable for Rehabilitation" are defined as substandard units in such poor <br />condition that it is not structurally nor financially feasible to rehabilitate them to Section 8 <br />and Supplemental Rehab Housing Quality Standards within the $25,000 per unit CDBG <br />maximum limit, or to provide a life expectancy of 15 years or more. Unsuitable for <br />Rehabilitation is further defined as a residential structure, which has .major adverse <br />structural conditions due to inadequate original construction or has falling foundation, <br />floor, wall, ceiling, roof, and exterior systems. The Housing Rehabilitation Specialist will <br />document specific conditions and make a determination that more than 50 percent of the <br />structure must be demolished in order to comply with the housing quality standards. <br /> <br />However, if identified as bid alternates, exceptions to the $25,000 limit may be granted by <br />VDHCD for the following: <br /> <br />· Wells and septic tanks. <br />· Water and sewer connections. <br />· Bedroom additions for large families necessary to meet Section 8 Housing Quality <br /> Standards. <br />· Accessibility improvements for disabled persons. <br />· Demolition of a house as part of a substantial reconstruction. <br />· Expansion of a unit's footprint. <br /> <br />The total cost of such items cannot exceed $15,000. <br /> <br />Housing rehabilitation may be considered if the property owner is financially capable of <br />providing the funds required to make up the deficit in the $25,000 CDBG maximum <br />assistance level and the amount required to accept the lowest responsible bid. The <br />property owner would be required to provide the funds to the City prior to contract <br />execution with the construction contractor. The mount of funds would reflect additional <br />funds (10% of rehabilitation contract mount) potentially required for change orders as <br />deemed appropriate by the Rehabilitation Specialist. If there were cost savings incurred <br />during the rehabilitation work the program and property owner would realize these <br />savings proportionately. <br /> <br />There are no mobile homes within the designated project area therefore, rehabilitation <br />assistance is not a consideration under this program design. Assistance will not be <br /> <br /> <br />