HomeMy WebLinkAboutItem 2C: Adoption of Resolution 4892 Concerning the City’s Historic Loan Program
EUGENE CITY COUNCIL
AGENDA ITEM SUMMARY
c
Adoption of Resolution 4829 Concerning the City's Historic Loan Program; Repealing
Resolution No. 3440; Adopting a New Historic Loan Program; and Providing an
Effective Date
Meeting Date: November 27,2006
Department: Planning and Development
www.eugene-or.gov
Agenda Item Number: 2C
Staff Contact: Ken Guzowski
Contact Telephone Number: 682-5562
ISSUE STATEMENT
The City's Historic Loan Program (HLP) was last updated in 1980. The proposed resolution
(Attachment A) will repeal the 1980 resolution, adopt the proposed guidelines, and provide the City
Manager with the authority to amend the guidelines.
BACKGROUND
Recognizing the need to preserve and protect historic landmarks, the City first established its Historic
Landmark Preservation Policy in 1975. On June 12, 1976, the council established guidelines for
allocation of financial assistance for historic landmarks, according to Resolution #2520. On November
5, 1980, procedural changes in Federal regulations and provisions of the Eugene Code caused the
council to adopt new guidelines for reviewing restoration revolving fund loan applications according to
Resolution #3440.
The HLP is a revolving loan program designed to leverage private investment in the restoration,
rehabilitation, repair, and/or maintenance of historic properties. Applications are accepted and reviewed
throughout the year. Decision approval on loan requests is determined in part by the availability of
funds.
Prior to 1980, funds were given to historic property owners as grants to offset the costs of appropriate
rehabilitation. In 1980, two revolving loan funds were established by the council to create an ongoing
stream of available funds for the Historic Loan Program. One fund received City monies while the other
fund received federal Community Development Block Grant (CDBG) monies. Yearly allocations were
made to the City-funded loan program in amounts that varied between $12,000 and $22,000 until 1990.
Since 1990, the program has been maintained by interest and principal repayment on the outstanding
loans. The loan fund currently has a balance of approximately $190,000.
The proposed guidelines (Attachment B) differ from the current 1980 guidelines (Attachment D) in the
following manner:
a. Loan amount $5,000 to $20,000 (currently, limited to $10,000);
b. City Manager approval for special cases (currently, City Council needs to approve loans in
excess of $1 0,000 upon recommendation of Historic Review Board and where distribution of
funds is in excess of available funds);
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c. Loan term 10 years (currently, 10- 20 years based on life of work, cash flow of property, and
minimum loan payment of $20 per month);
d. Interest rate two points below the Oregon Bond 30-year rate set at the time of closing (currently,
residential property rate based on the City's rehabilitation loan program for owner-occupants,
non-residential based on the City's rehabilitation loan program, mixed-income based on
prorated percent of residential and non-residential area);
e. No use of Community Development Block Grant funds (changes to the federal CDBG program
require that funds benefit low-income owners. In general, historic property owners - especially
those interested in restoration projects - are ineligible based on income level. The CDBG
funded HLP was discontinued in 1983.);
f. Matching funds from owner on a 1: 1 ratio of private to public funds (currently, no match
required) ;
g. Details for collateral required (currently, none listed);
h. Fees of 1 % loan fee and applicable recording fees (currently, none listed);
1. Details for disbursement ofloan (currently, none listed);
J. Project preference criteria (currently, none listed);
k. Loan Committee, comprised of Planning and Development staff, approval authority with City
Manager approval needed for exceptions (currently, Historic Review Board maintains approval
authority with City Council approval neededfor exceptions);
1. Application process (currently, none listed);
m. Details for bidding projects (currently, none listed);
RELATED CITY POLICIES
The proposed resolution is consistent with the policies included in the Historic Preservation Element of
the Eugene-SpringfieldMetropolitan Area General Plan - 2004.
Policy 1.(1): Adopt and implement historic preservation policies, regulations, and incentive
programs that encourage the inventory, preservation, and restoration of structures;
landmarks; sites; and areas of cultural, historic, or archaeological significance,
consistent with overall policies.
COUNCIL OPTIONS
The council can choose to take action to modify the Historic Loan Program by approving the proposed
resolution or can decline to support the revision as proposed.
CITY MANAGER'S RECOMMENDATION
The City Manager recommends that the City Council approve the proposed resolution in support of
modifying the Historic Loan Program.
SUGGESTED MOTION
Move to approve Resolution 4829 concerning the City's Historic Loan Program; repealing Resolution
No. 3440; adopting a new Historic Loan Program; and providing an effective date.
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ATTACHMENTS
A. Proposed Resolution
B. Proposed Historic Loan Program Guidelines
C. Resolution No. 3440 Repealing Resolution No. 2520 and establishing guidelines for reviewing
restoration revolving fund loan applications
D. Current Historic Loan Program Guidelines, adopted in 1980
FOR MORE INFORMATION
Staff Contact: Ken Guzowski, Historic Preservation Staff
Telephone: 682-5562
Staff E-Mail: ken.i.guzowski@ci.eugene.or.us
Amanda Nobel, Historic Loan Advisor
682-5535
amanda. r. nobel@ci.eugene.or.us
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ATTACHMENT A
RESOLUTION NO.
A RESOLUTION CONCERNING THE CITY'S HISTORIC LOAN
PROGRAM; REPEALING RESOLUTION NO. 3440; ADOPTING A
NEW HISTORIC LOAN PROGRAM; AND PROVIDING AN
EFFECTIVE DATE.
The City Council of the City of Eugene finds that:
A. Recognizing the need to preserve and protect historic landmarks, the City first established
its Historic Landmark Preservation Policy in 1975 and has, since that time, provided financial assistance
to property owners in accordance with its adopted guidelines.
B. The most recent Guidelines for Reviewing Restoration Revolving Fund Loans were
approved and adopted by Council Resolution No. 3440 on November 5, 1980. Many changes have
occurred since that time in City and Federal regulations and the City's Historic Review Board has
recommended that the City Council repeal Resolution No. 3440 and the Guidelines adopted therein and
adopt new guidelines for the City's Historic Loan Program. The Historic Review Board has also
recommended that the City Council direct that future revisions to the Historic Loan Program Guidelines
be adopted by the City Manager in accordance with the provisions of Section 2.019 of the Eugene Code,
1971.
NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal
Corporation of the State of Oregon, as follows:
Section 1. Resolution No. 3440, adopted by the City Council on November 5, 1980, and the
Guidelines for Reviewing Restoration Revolving Fund Loan Applications adopted therein is repealed, as
of the effective date of this Resolution.
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Section 2. The Historic Loan Program Guidelines, a copy of which is attached hereto as Exhibit
A and incorporated herein by reference is hereby approved and adopted, and loan applications for the
restoration, rehabilitation, repair and/or maintenance of historic properties shall be reviewed and
approved or denied in accordance with its provisions. Future revisions to the Guidelines adopted hereby
shall be effected by the City Manager in accordance with the provisions of Section 2.019 of the Eugene
Code, 1971.
Section 3. This Resolution shall become effective immediately upon its adoption.
The foregoing Resolution adopted the _ day of
, 2006.
City Recorder
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ATTACHMENT B
Proposed Historic Loan Program Guidelines
TABLE OF CONTENTS
TABLE OF CONTENTS.......................................................................................................... 6
PROGRAM DESCRIPTION................................................................................................... 7
ELIGIBILITy................................................................................................................... ........7
PROGRAM TERMS................................................................................................................ 7
Matching Funds.................................................................................................................... 7
Amount........................................................................................................................ ..........7
Rate.......................................................................................................................... ..............7
Term.......................................................................................................................... ............7
Collateral..................................................................................................................... ..........7
Fees.......................................................................................................................... ..............7
Disbursements................................................................................................................. ......8
N on- Transferability.............................................................................................................. 8
PROJECT PREFERENCE CRITERIA.................................................................................. 8
LOAN COMMITTEE.............................................................................................................. 9
APPLICA TION PROCESS...................................................................................................... 9
MISCELLANEOUS............................................................................................................... 10
BWd~g................................................................................................................................10
Public Record Statute......................................................................................................... 10
Other Requirements............................................................................................................ 10
Progress Inspections............................................................................................................ 10
Failure to Comply............................................................................................................... 11
Conflict of Interest.............................................................................................................. 11
QUESTIONS..................................................................................................................... ......11
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PROGRAM DESCRIPTION
The City of Eugene's Historic Loan Program (HLP) is designed to leverage private investment in the
restoration, rehabilitation, repair, and/or maintenance of historic properties. Established in 1976, the
HLP is a public financing revolving loan program.
Funds for this program are available through the City of Eugene. Applications are accepted and reviewed
throughout the year. Approval of a loan request is determined in part by the availability of funds.
ELIGIBILITY
All City Landmark or National Register properties within the City of Eugene are eligible for the HLP.
Other properties may be eligible under special circumstances upon approval by the Loan Committee or
the Historic Review Board. Properties may be residential or commercial in use. Funds may be used for
restoration, rehabilitation, repair, and/or maintenance. Proposed work must be completed in entirety but
can sometimes be part of an ongoing project. Proposed work must go through the City's historic
alteration review process for Historic Landmarks, if deemed appropriate, and meet the Secretary of
Interior's Standards for Rehabilitation.
PROGRAM TERMS
The following terms of the HLP are intended to provide additional flexibility over conventional lending
programs to accommodate and adapt to the changing needs of historic property owners. Therefore, the
City Manager or his/her designee has the authority and discretion to alter, amend, waive, or otherwise
make an exception to any of the following terms.
Matchin2 Funds
Loans are approved on a matching fund basis with a minimum 1: 1 ratio of private to public funds
for loans made to businesses or individuals. The owner must provide proof of available
matching funds. Depending on the scope of the project, the borrower may be required to help
fund the project beyond the minimum leverage requirement.
Amount
The loan amount minimum is $5,000 and maximum is $20,000.
Rate
The interest rate is fixed for the term of the loan at two points below the Oregon Bond 30-year
rate. The interest rate for each loan is set at the time of closing.
Term
The loan term is generally a maximum of 10-years with equal monthly payments. Loans may be
amortized over a longer period if authorized by the City Manager or his/her designee.
Collateral
All City loans will be secured with collateral appropriate to the loan request. Security will
usually consist ofliens against real property and may include personal assets of the borrower.
Fees
Borrowers will pay a 1 % loan fee and applicable recording fees. There is no application fee.
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Disbursements
Funds will be disbursed only for completed work over no more than twelve months unless
otherwise determined on an individual basis. As portions of the work are completed, progress
payments may be requested. Contractors may use their own billing forms. The City will hold
10% of the loan amount until the final inspection is complete. Matching funds contributed by
the owner must be spent prior to the City disbursing its loan funds.
The Historic Loan Advisor will process payment requests for work completed. An owner cannot
be reimbursed for purchase of tools. All payment requests must specify what work has been
completed and what amount is being requested in detail acceptable to the City. The City cannot
pay for stored materials: they must be installed. Payment to the contractor may be requested as
often as every two weeks and is subject to satisfactory inspection by the Historic Preservation
staff.
The owner must authorize each payment of loan proceeds to a contractor or supplier. This is
usually done by making the owner co-payee on the check. The check is given to the owner. By
endorsing the check and giving it to the contractor, the owner certifies that the work is completed
to his/her satisfaction. Final payment on the construction will be disbursed only after the
Historic Loan Advisor and Historic Preservation Staff have completed a final inspection and the
contractor has provided a release of construction liens.
N on- Transferabilitv
The City's loan may not be assumed in any property or business transaction. If the property is
sold or transferred in any manner, the City's loan will be immediately due and payable.
PROJECT PREFERENCE CRITERIA
The Secretary of the Interior's Standards for Rehabilitation will be used to review restoration,
rehabilitation, repair, and maintenance for proposed HLP projects. A copy of the Standards and
assistance in meeting the Standards can be obtained from the City Planning Division. Projects will be
evaluated based on the following criteria:
1. Level of need to accomplish proposed work (40% weight factor)
HIGH PRIORITY - Urgent need, eminent threat, or rapid deterioration.
These are situations where the building or site will be demolished or the significant historic
features will be severely damaged if the work is not accomplished.
MEDIUM PRIORITY - Basic needs and restoration of historic features.
Repair and maintenance items which would prevent further damage to the property such as roof
and gutter repair, painting, foundation work, and repair of deteriorated architectural features.
The restoration of missing historic features require accurate replication of composition, design,
texture, and other visual qualities substantiated by original historic plans, photographs, or other
physical evidence.
LOW PRIORITY - Removal of incompatible additions and features.
The Standards recognize that changes that have taken place over time are evidence of the history
and development of the building/site and its environment and may have acquired significance in
their own right and therefore shall not be removed. In cases where the addition or alteration
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clearly detracts from the building/site's historic integrity, however, removal should meet the
Standards.
2. Visibility (25% weight factor)
Priority will be given to those properties that are highly visible due to their location,
accessibility, or notoriety.
3. Community interest (25% weight factor)
Priority will be given to those properties where a high degree of community interest exists or
may be generated.
4. Impact on the retention & maintenance of other historic property (10% weight factor)
Priority will be given where it is determined that the proposed project will have a particularly
positive influence on the potential retention of other threatened or poorly maintained historic
property in the neighborhood area.
LOAN COMMITTEE
The Loan Committee reviews all loan proposals prior to final approval. The three-member staff
committee ensures that all loans meet a public purpose and are likely to be repaid. The Committee is
comprised of the Community Development Division Grants Manager and Division Manager and the
Planning and Development Department Executive Director.
APPLICATION PROCESS
The processing time for a loan depends on the project. Generally, the processing time for a complete
application is three to five weeks. The following is a summary of the steps in the review process:
1. Pre-development conference with Historic Preservation staff to determine eligibility. Historic
Preservation staff will inspect the property to understand the proposed work.
2. Applicant submits a completed HLP application to the Planning Division including project and
financial information. If required, a Historic Alteration Application is also submitted.
3. Planning Division staff reviews the package to finalize project eligibility and forwards the
eligible application to the Community Development Division.
4. Community Development Division staff reviews the financial eligibility of the applicant and
recommends approval or denial to the Loan Committee.
5. If approved, the Community Development Division prepares loan documentation and disburses
funds as work progresses.
6. Staff visit project site to ensure conformance.
7. Final disbursement made.
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MISCELLANEOUS
Biddin2
Before a loan is approved, the applicant must obtain bids for the proposed work from at least two
contractors. If these bids vary greatly, then another bid is recommended. Any contractor(s)
performing work on the project must be licensed and bonded for the type of work planned. The
City reserves the right to deny the use of a contractor. The property owner must have a written
contract with the contractor prior to starting the work.
Borrowers are not allowed to perform their own work on projects unless they hold current
registration with the State of Oregon as a General Contractor. Exceptions to this requirement
will be considered following discussion with Historic Preservation staff. If the owner is serving
as the general contractor, s/he must also submit a complete list of materials needed and their cost
and the amount and cost of any labor that will be hired. The owner must have a written contract
with all subcontractors. Reasonable overhead and profit cost may be deemed as eligible program
costs if the owner is a professional contractor.
The City also requires having building permit and plans approved before the loan application is
granted final approval. The City's Building and Permit Services Division could require
additional items which would increase the cost of the work. The Historic Preservation Staff and
Loan Advisor will help with the entire process, but it is ultimately the owner's responsibility to
seek bids and/or materials and their costs.
Public Record Statute
The City will seek to maintain confidentiality of the loan application materials. Records
maintained by the City concerning loan applications including information submitted by or on
behalf of the applicant are subject to Oregon's Public Records Statue (ORS 192.410 et seq).
This law provides for disclosure of public records unless specifically exempted by statute or, in
some cases, by the City's determination.
Other ReQuirements
Loan recipients must comply with all applicable local and State laws. All loan recipients located
in the flood plain are required to maintain adequate insurance coverage from a company
authorized to write such insurance in Oregon.
Pro2ress Inspections
Work done with HLP funds often requires a building permit. All of the work done must be
inspected by the Historic Loan Advisor and Historic Preservation staff, and some of the work
may be inspected by a City building inspector, as required. Obtaining the necessary building
permits and inspections is the responsibility of the property owner and the general contractor.
When an owner or contractor requests payments, the Historic Loan Advisor must certify that the
requested amount is reasonable for the work properly completed. The Historic Loan Advisor
must also certify that the remaining funds will be sufficient to complete the work yet to be done.
If they are not, optional work may have to be deleted.
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Failure to Comply
Failure to comply with any applicable program guidelines or local and state laws will constitute a
breach of the Historic Loan Agreement. Such a breach will result in City action to recover
moneys determined to have been spent on ineligible projects or activities.
Conflict of Interest
If an applicant is a City employee, s/he may have a conflict of interest which would make
her/him ineligible to receive HLP funds. Historic Preservation Staff will advise in such
instances.
QUESTIONS
Historic Preservation Staff: Ken Guzowski 682-5562.
Historic Loan Advisor: Amanda Nobel 682-5535
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F<.ESOLUT ION NO ~ _3!:LY_Q__
A RESOLUTION CONCERN ING HISTOEIC LAi~UM]\EKS;
REPEALING HESOLU(rIOl.~ NO~ 2520; ESTABLISHING
i~EW GUIDELINES FOP. REVTEWIUC; HESTORATION HE-
VOLVING FUHD LOAN APPLIC~n..TIONS; AND PHOVIDING
AN EFFECTIVE DATE.
The City Council of t.hc City of Eugene finds th,3.t:
In accordance w.ith the Historic Laric1mark preservatio:'l Policy
of ttH? City as cst.ablishcd in Ordinance No. 172~)1 adopted by the
Counc i 1. a nfj ~lpprovcd by the i'--1ayo r on February 10, 19"}~), Lhe Coune i, J
d 1. d , by Pes 0 1 u t 10 n 1'~ 0 . 2~) 2 0 ado p t c don ~T u n e 1 4 t 19 7 6, est a b 1 i ;3 h
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marks..
Bee a u S 0: 0 f pro c e d u l~ ale h a n 9 c s 1. P F' c d era 1 r (: 9 u 1, a t ion S d n d pro \r i -
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t~,rojf~cts, thE; lIistoric Re'Ji(~~w Board of the \.~i ty J1aS rC'commc'nded the'
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