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e e e COMMUNITY DEVELOPMENT BLOCK GRANT THREE-YEAR PLAN March 5, 1985 Page 2 Goal 2: Housing and Investment Property Redevelopment Assist in upgrading housing conditions for low- and moderate-income residents of the City of Eugene through housing and investment property redevelop- ment. Provide assistance through loans to 10w- and moderate-income homeowners and investor/owners in cases where their tenants are 10w- and moderate-income. Provide services and grants for rehabilitation for the very low income through home repair and maintenance programs. Fundin, Strategy: Provide a first-year allocation of 25 percent '($324, 50) and then allocate 30 percent of the grant, or $396,000 during years two and three. Because of low interest rates and longer terms of rehabilitation loans, loan repayment income to this program is of lesser significance than the Business Development Loan Program. The three-year plan for funding provides $1,225,150 in grant fu~ds and program income (i.e., revenue from repaid loans) for housing and investment property redevelopment activities. During the first year, carryover funds are sufficient to permit the program to operate with a smaller amount of new funds. The housing'and investment property redevelopment programs have been a main- stay of the CDBG work plan during the last ten years. In recent years over 40 percen.t of the block grant funded ,these programs. Eugene's housing stock has been upgraded with noticeable results in the Westside, Whiteaker, and East Skinner Butte neighborhoods. The Six-Point Program identifies the need to /lincrease rehabilitation loan funds for investor/owners." The Community Goa 1 s document call s for po 11 ci es /I supporti ng the preserva ti on of exi sti ng housing. . . /I The existing programs can be classified in four areas: 1) housing rehab- ilitation loans, 2) commercial loans, 3) emergency home repair, and 4) minor maintenance. In each of these programs, 10w- and moderate-income residents of the City of Eugene are beneficiaries. Two new programs, the Rental Rehab- ilitation Program and the Urban Homesteading Program have been funded this year. Both of these programs will rely on Community Development Block Grant funds for administration. The Rental Rehabilitation grant, in particular, does not include adminstrative expenditures. Goal 3: Joint Social Service Fund Projects Provide assistance to 10w- and moderate-income residents with special needs through services and capital improvements for social service agencies. Implement these grants following review and selection by the Joint Social Services Fund Budget Committee.