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I <br /> North Main/Water Stree� Area <br /> Neighborhood Revitalization Program <br /> I. PROGRAM PURPOSE AND GOALS ' <br /> A. Program purpose is to improve the quality and character of the designated <br /> area. <br /> B. The goals are: <br /> 1. Improve the appearance of residential properties in th� targeted area. <br /> 2. Foster the development of new small office and retail husiness without <br /> altering the architectural characteristics of the neighbc;rhood. <br /> 3. Provide new opportunities for affordable, owner-occupied housing. <br /> 4. Improve the quality of multifamily living in the neighbo�r�ood. <br /> 5. Alter public perceptions regarding the quality and ch�ra�ter of the <br /> neighborhood through supporting actions and activitir�s. <br /> 6. Protect and foster the combined impacts in the Old K����g's Orchard and GM <br /> Square by assuring the character of development of th� targeted area does <br /> not adversely affect residential properties to the west }f Main Street. <br /> 7. Preserve and enhance the existing architectural qualities and characteristics <br /> in the targeted area. <br /> 8. Increase the level of property owner commitment/inte�est in the neighborhood <br /> through increased investment commitments and new 6pportunities for greater <br /> return on investment. <br /> II. SINGLE FAMILY (S/F) HOUSING REHABILITATION PROGRAM <br /> A. Home Owner Rehabilitation Loan Program <br /> 1. Loan funds available to $30,000.00 or 90% of after rehabilitation value. <br /> 2. Loan term not to exceed fifteen (15) years at a 3% interest rate. <br /> 3. Residency required for five (5) years . <br /> 4. Maintenance required for a minimum five (5) years <br />