Agenda - 05-04-2004-5g - Laserfiche WebLink

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z~ 3, Installation and Repair of Playground Equipment Approximately $6,000 of Community Development funds will be used to repair and replace playground equipment at various public housing sites. These activities are located in an existing public housing community which is in an area of both low/moderate and minority concentration, This is a continuation of the Town's efforts to renovate existing public housing communities. Anticipated Beneficiaries 336 households earning less than 80% of the Accomplishments: 65 renovated public housing apartments Anticipated Completion Date; December 31, 2005 $206,000 Priority: Facilitate the construction of new or substantially rehabilitated housing units that are affordable to families earning less than 80% of the median family income. Funds will be used for the renovation of owner occupied housing in the Northside neighborhood. We estimate that these funds could be used to rehabilitate four houses and provide for contract staff support, Funds would be provided as deferred loans to qualified homeowners that could be forgiven over time (typically twenty years, depending on the amount of the loan), The funds would be repaid to the Town if home was sold or conveyed to heirs that do not meet the income guidelines of the program within the affordability period (typically twenty years), Anticipated Benetlciaries: Accomplishments: Anticipated Completion Date: 4 Households earning median income 4 Housing Units September 30, 2005 less than 80% of the area $100,000 Priority: Facilitate the purchase of new and existing housing units by first time homebuyers with incomes 80% and below of the area median income. Funds will be budgeted to enable Orange Community Housing and Land Trust to reduce the prices of ten (10) townhomes in the Vineyard Square Development. Funds would be provided as a grant to the Land Trust. Funds would be used to reduce the sales price of three-bedroom townhomes from $115,000 to $105,000. Townhomes