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R2008-01 AMENDING TAX INCREMENT FINANCE DISTRICT MANUAL
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R2008-01 AMENDING TAX INCREMENT FINANCE DISTRICT MANUAL
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10/23/2015 2:34:20 PM
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Resolution/Ordinance
Res Ord Num
R2008-01
Res Ord Title
AMENDING TAX INCREMENT FINANCE DISTRICT MANUAL FOR NEAR WEST REHABILITATION PROGRAM AREA - LAND SALES CONTRACT PROPERTIES
Approved Date
1/22/2008
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Residential Rehabilitation Program <br /> The City of Decatur Residential Rehabilitation Program will provide forgivable building <br /> rehabilitation/improvement funds to owners of single-family, multi-family, and mixed-use <br /> properties located on the West Main Street Corridor. The goals of the program are to preserve <br /> housing, stabilize or increase property values, and provide an incentive for residential <br /> rehabilitation. <br /> Eligible Project Costs <br /> Code deficiencies present at the time of inspection must be addressed as part of the rehabilitation <br /> plan. Eligible activities include,but are not limited to,the following: <br /> 1. Repair or replacement of defective mechanical systems (electrical, plumbing or <br /> heating/air conditioning). <br /> 2. Repair or replacement of defective building components and surfaces (foundations, roofs, <br /> porches, stairways, floors, ceilings walls and doors). <br /> � 3. Windows shall be repaired/restored when possible. Any window replacement must be <br /> with like material and like configuration. <br /> 4. Construction of exterior improvements including driveways, retaining walls and parking <br /> lots, not to exceed twenty percent of the project cost. <br /> 5. Landscaping and exterior turf establishment when combined with another eligible project <br /> activity. Landscaping shall not exceed fifteen percent of the project costs. <br /> 6. Interior rehab projects when combined with another eligible project activity or code <br /> deficiency. <br /> Eli�ible Soft/Other Costs <br /> 1. Code compliance costs <br /> 2. Cost effective energy standards (24 CFR 39) <br /> 3. Historic preservation standards <br /> 4. Flood proofing <br /> 5. Improvements to provide access for handicapped persons <br /> 6. Remedying termite infestation <br /> 7. Processing and settlement costs (e.g., building permits, credit reports, fees for title <br /> evidence, recording fees, appraisals, etc.) <br /> 8. Fees for the professional services of Architects, Engineers and Consultants (limited to ten <br /> percent of the project costs) <br /> Ineligible Costs <br /> 1. Temporary improvements <br /> 2. Appliances and fixtures not permanently attached to the home <br /> 3. New construction and additions, except where overcrowding requires an addition by local <br /> code requirements (as approved by the Economic and Urban Development Department). <br /> 12 <br />
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