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. <br /> . _ ` _ . <br /> CObmliJDTITY DEVELOPMENT MEMORANDUM <br /> N0. 49-95C <br /> February 27, 1995 <br /> MEMO TO: Honorable Mayor Erik C. Brechnitz and <br /> City Council Members <br /> FROM: James C. Bacon, Jr. , City Manager <br /> George C. Weaver, Community Development Director� <br /> Vickie Buckingham, Neighborhood Renewal ,/� <br /> Administrator <br /> SIIBJECT: Proposal for Changes to the Downtown Rental <br /> Rehabilitation Program <br /> The Downtown Rental Rehabilitation Program was designed to <br /> provide a match to pay for code repair for units to be rented to <br /> low and very low income residents . The original program had max- <br /> imum per unit match of $15, 000 . No single owner could utilize <br /> more than $100, 000 in program funds for a single building. <br /> In working with this program for the past 12 months, staff has <br /> concluded the building' s age, condition, and code requirements <br /> for the properties in the downtown area effect the rehabilitation <br /> cost greater than originally estimated. Staff recommends the <br /> $15, 000 per unit maximum be increased to $20, 000 per unit . Staff <br /> recommends the elimination of the $100, 000 maximum in program <br /> fund. <br /> /sj <br />