HomeMy WebLinkAboutR-83-06386
11
I-83-582
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RESOLUTION N0. --
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO ADVERTISE A REQUEST FOR PROPOSALS FOR
THE DEPOSIT OF COMMUNITY DEVELOPMENT
BLOCK GRANT FUNDS RECEIVED PURSUANT TO A
LUMP -SUM DRAW -DOWN AGREEMENT FOR CITY USE
OF ALLOCATED REHABILITATION FUNDS.
WHEREAS, on July 9, 1981, the City Commission approved
an agreement with Dade Savings and Loan Association for the
use of Community Development Funds in the Residential
Rehahilitation Program by Resolution No. 81-609; and
WHEREAS, said agreement provided for a two year term
expiring in 1983; and
WHEREAS, the City is continuing to promote the
rehabilitation of housing in the City of Miami through the
use of Community Development Block Grant Funds;
NOW, THEREFORE, BE IT RESOLVED BY THE C014MISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
distribute and advertise Requests For Proposals seeking
proposals from qualified financial institutions to act as a
depository for Community Development Block Grant funds
received pursuant to a lump -sum draw -down agreement for City
use of allocated rehabilitation funds.
PASSED AND ADOPTED this lath day of July , 1983.
Maurice A. Ferre
MA RICE A. FERRE
ATTEST: M A Y 0 R
0 RM E, C Y
PREPARED AND APPROVED BY:
OBERT F. CLARK, DEPU Y CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
kER. GARCIA- ED 0 A, CITY ATTORNEY
CITY COMMISSION
MEETING OF
JUL 18 1983
RL';OLUtW 83-638,
REMARKS. __
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inclullin Ittl`Ilt !!.,lt,,ill,.
Intl ,11i1JI)It iivill:,
Itir,I.11,itt..., !,rir,c:ipally
f or lit r:,oII tit !0 I•, I
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1 i 1 t,VI'r•.I I•!:,!IIIi t
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hchal;i!it.Iri,In I're•r::u.
ih, I'rtl�,ram Itt.ili%�.t•�, .I t,Ir;`.�ill:,ti
11 `} l,li!rlit ;Intl 1,riv.I'e
monicti to finnnle rt'i,•11'iIit
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IIIc 9 tlit. Cit;
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„I , n!a'nt i 1 y IIt' yt ! t,l,n,, ill , ,•!::.
l•1 I !,,, ,., I r„!i, f i i1.111c i.I I
;i.irl 1. i;:,tt
i!I h,'th the ;I'.miIli ,t r.11 i
Iri ,Intl I i;Inll, in, o1 1:rullcrty
rolahilit "Ititit I•t 1.1:.
In<i •.,'t1cr,11, c i,,,n,..,%..,tI
r, Ini ilI•t:;ttr.,. Ibis
l;a:-ti� il,,Ir i,n a:ill l,I •",:i�
thI c it, 1 1, ., t.,, c it ,
r,'7,"Ilr:t.`, III int.reas(• flit,
11MOuiit of t ltn;ls a ; i I •II, I
I ! ,,r 11rc,l;t i t. } rt
!11v,,I •:t•ir.•nt
f lit' kcr,idt !Ir i 11 I t fl.Ihi I it
It i,,II I'r,,k;r,un 1)y 1 financial
in;t it it it ns .i I l i•,
lti a p,Irt is ilrat in., It ildiilk"
iI irut ion. I'articiparii;g
1vnctil"i institution- ill
I,r,,` icle 1t,:3ns t eIIj"iI)1
holmumut•r, for tht• repair
of t:wir hrt,11, t i. t
rl-t•t 1 yi„i.It ioll-, i t1w C
its t,I Miami MiIll imuu! IlousiIig
c u<le , t i1c it It h i :. r i LI
t',u i I t1 i `ice (.t1,It antl i ,r riI I t
Fodo ra i I10Ll i II s r IIi(1a rd, as
:'tIl I:: flit tn,r•,i
1,I'op•r'Iv inlpr'ov('1114,1)t.. lit.
:it} of !Ii:imi ::iI usI• C1)L'G
83-b3t
0 0
( lllll'. t ,I •,I:,. I il,' I , r i I„ i I - .I i IIf I II, 1'•.111 I !, .I, I i,.,:, .• 1 1 ('I I I
• t i 1)t ,,vC .I rat o
III,;'If•,"., ilk' I ', I'.II11. i II,• I I -„I;'. tl t ,1 .�I • I '. i I i I'II t II. i II, ,In
.,f 1
nvv i "r- .: i I h i%n Ali , I f I 1 r i , ti' r it I. „. i':Ir
i, i r 11 11,•, I,•r,d-r',
will r! of rind In,l rvicc IIIan - Ti1 it il.r: I, rill
inn oanl:lydh,
rt 1 1;'- . i w.,. I •11,1, 1'. •n,t� i �,, :II', ..lu,, Ii
i „r- p,Irt r,i .1
I nrn1,-.,I1:n 'c }„", i t I I f fli;c; 1111,,1s. !,,, Ir . cl t I n, i'. i •i, 1
I I R,•il.th i I i I at I r,
!'ro i Iti1. CI,, ! t'mlc r s,•i 1 hI' row i i I t I, r I,u i n 1 •t , r i 11„ t 1;,•
i l,it) III -n Ilc•Il,
I:nci : I r•r 1 + t hI 1 r i n, i 1,.1' r, •1111.,
i I t }�rlvmrnt ', lr;ci
i n c•rt a i I1 � i r, unl�,1 .111• ,•.., .' + I i t.�„ t ,,,I, i, 1, 1 ;,�11t " I,•.In•• 1n,+, ,• r,tl,1
•, I „ c1u,t l i f i,•cl
hollickI%,.IIc'r -. I'hc' 1 c n,1, r : 1 f ,,, h r, .1,•,;;<, i h! I I r ra I A 1 i
n,11 , i.1 I ;It, III:1 1'm1 It
and llccmnra in,;, In, Iuding thc. p1j,vi-,iI,n of nlc,nt;1I rI1t„r1
fI,r all I nL,,,
t ransa, t i ons. I i t•" I i od - KIT& ch l i lat c d. And f 11r• I•;
d i shursed.
I l . '.'.:1"•h'GRtli+'ail
ll,, i,l,•nt i.i; hc'h.i,i l itAt i„n Pro -ram Ir d— ia",•d
t„ JI vvragv the
I nvv%i rl1, l.r , 1, r . v tI I unds i In i--. tv— i.:-i, - ,'•„ r •rnc•rlr I".In•,. ('ri\.:,r,
11•n,1,•rs till
Irlal'o h,•n:, il: I,: „\t •.;.,�n• , 111, I „r :1 P1 1-t 1 .111 oI t lit, I, pa i r t I,•,r :-
-it (.,brew markot
int-urunt rat,`. il1',L t•u1dN ':ilf PC I,coOdc'd in the tl,r1,
„t a 1,rincQal
rodnc"I ;,,It .,l I•,; l,,r t h, r, 1,.,Ini1;.j i,.'l t ion „t th1 •i,.I I-
t ,. i'hc• cnrnF,i11Cd
c•t t v " I I,I I,, I i Ili• iris tI, l I
{ } r i �.,' _ } ,,:1n ,:' i I I i,n rI• !1;:•,.
t III• I• I 1 rr t. i vc
,- usI of I ";a I I work I I I li ;,r, p-r: v tnn,'t .
I I', i, 1.; r l,l. 6 '. i ,11, d t o collcont rat c 1,•vi•ragod
1 it vc sLmenLs in
relat KM v !OW nci„hhl,ri"ods in ordor to im1,l"c,Ic' .1 substantial
portion of Lheir
hotisin+ •,t,,, 1: (.II I, .I'•I to Ill in;1111tn1 Fed" 11,ou•ti11)' !;I andardl,).
'i'hon.. s;11TW
nvjgh}„r1:ood4 arc al•;,, rI•cc•ivinn public improvc'mvnin such
as new strveLs,
siduwaifcs, and land t,t}tiulg as part of th,' revital izat ion WON.
83-63E
A 0
it-' I I-. oh ' , t ,,I t : " ! ! '' ! :, I t- I I - :
o 7 i : it ; , a w lo, A o I d ' r I, p orhood,,
I I ml! I . I I - I - i I)% ( fit( II. I' ". !, I'')!) , 1. , "'! 1 1,
F , , i, I c
i -irt t'.. A %.7.1 i 1 , 1 1) 1
1 1 i i i
ho p1l" 1 i A,' I i " At
,r rcariil i ric I t, o- t,t I t
111:1
rvpa I h
it i n 1) ( r , I '), ; ; . f It,- k i I I nit 1 at I J ,I
I k - V( - r I ti i.rt,;;rnrtl with liadc
Savinus
and Iman Assoviilion K 1 In h s A n I ial v r W
I vs! I In" i s kv 1 np jesu In i bvd
t opt, hi I• t h, t v hA ... ...
!"rallf r a
(N f ;i 1 1
J)P(; ( xpnd i t re I 1 14 1 oadt.
Ant! Loon his pat-Li'ipMed in
t i I I l"!' . I I, - 1 !.oAll tis i Ili-,
t h.,into'Inp ru v eme 11 L
p r i -;: t r) r all i I 1 t v, r I OAP
TIM i 1- 11; hL'
r o 1!11(1- ; 'I
Pot't i fit', t;
'; "At"i
il
'r I i oI: d I
r i v j
n c ro o x
o >
i I v ,It .1 )t
SA v I T-:'[" it 11
A got I
t
fundsN
Ink I d i- t
A c rl,,st ' ,i t M-1d has
Cli
f t. I hL' '!k ri� tv
-� t- I i - Un i t C, d
St An:
PAN OL 111 1i,F,m,'nt
wi i I II Iow for a c t 0 n d (I 1%jw
Clown. •h
C i ! ,, w
Lit ,,I " I. $500,00C 'Ind not
murk' f II:!!:
i2 thhl ml. A ho C i I vypvci w I hal ig d ra'...-
(I own I 'Md.; ;1 ro used, MID
will wll"
: Add hituna i drAw down; hA-vd on iiw im,ip -1
thu prMotts draw down.
Ilp- a4rcco, ni w! I h !Vdv tv! n"s And Loa" L xpi rp!, oll !;(-i)t-k :16vr '1, 0 , 1983.
Agrk"- ro-l'i!
I � ) XII( 1! [ 'id I I k' 11 t 011 t I I ! :--, Rc(itk --1
I u, r I ' r u 1, o sa I s slia I I commence
83-63E,
a
Ij
October I, M"i and he in lorc- for a moxionm of in" Years.
1t_ i a('I!('(I i_lI t I!1 i , (!II, •I I A t 11,' t 111"r(`III .lt',r-'('InI,IIl :•ll t.i1 i)ati(' IV I1)4,; and
Loan. progrim Luid('i in-s ant (I"Ci meet !4 u�,(•d in Ill, I(lo ,1.In. to provide furLhc'r
information to intorosIed liist If ut l-nv. nIn, 1ppl War ion form clirr(•I11 i`: in tlSU
Which i', not WNW) i', VIll,MK For" in' F;:'- , i"orm il'I . lob. AU.
I11. '•1'",Il {'i�t'(;1�:�`1 I;i:tll ;hi•:i•ti•:(�'l:�
A. Prouram Adminigt('ation
'I lit, Rk,!,idolit i ll ( II•!i'I I IL•II loll 1'1' `,t till 1', i;. I, •I I . '!IAXiit,i?o 'It,l It Lhe
qua ilt v and numht`r I r(•habilltation pro lwIs an! I minlllllZ(' I)•lilt•t-mi-k and
unnvtt_:b:;ary dvIays. I11 ( tnkr I ac+:oN')dinh If!t'••' —1. i v. -',, !—ivat (' I(-nders
and ( II l' -ct II I t.'1 I I l:oIk I tI)!,'t !t('1- t I' I-,Irri, ()III I II - I.1' .-I.1tII, (.I t `. ',t •Ii i ':)i I I be
primari A in,Nponsiblt I�,r th(Am! rat i"n 01 t 1((' PFW1r•Iitl. rill'( 11 1t"d11`; t- he
CAV stall wi l l:
Went. i I V rho r(•qui red and dus i rod work to ht• done to rho prt'pvrt ;
. make a prolillliniry dcr,_rminaif tli of Mipibilfty;
providt• o loan appl ical ion to the hurl, 1: u"r;
r-t•v i vw pr, poya I s ob! a i I ( (I by Ill 1nu't,wnt' I- I I I - ,'In , ("ant r•It t or'„
inspuct pioporIiup prior io approv1No i1.11r1(nts to Lontractors; anti
provide , 'nnso I i II to holll,•1(.•rl.t'r.
( (( pro ji,nt do 1 i nynt•nt"
ivs .
i'ropurty owrior., ,111 oIt(.t their ,.n
c('nl ra( tors ;uhP-t
to approval
by t h(•
part its ipaL i ng f,•ndcr ,(nd i i 1 1) t•ni,
t1nr.l-.t A to rt qmm
overt' Lhan one
bill. ',
1)r( cpert`. own, r inl%. hi, -II lo'..t't?, a; It('
purl i, ip:lt in;, Iolvil.r'
opt ian, to
do sorie
or ;iI1 of tho t.'ork in p I w a of a
rontr,r'_t,,r. How, vur,
tI)o 1)ropert
o:•rntgr must
J moustraiv that he/she i�: capabl(-
Of <utnplot intt tht
t:r1< tq)ecil ied
in tht.
loan appl i.at ion. 'f•hv i inancial institution
and Hu, C 1 ! y
W 1I restive
the rihhl
to d('t('rnlino whether the propt'rty
numer- 1s capable
of making, the
ilnprovell)"nt in a s-i( i!,Iat ior) mannt•r.
U3-6,3E
-A 1
t L 111) 1 1 1 ( t C k I ; o'll. ij,pi i, I, i,i,,
lilt ra( t m- s prop,!;al Lird C i t i
[it, if I c i t
p.i rt t I-
p;I1- L i L i D, I I I P, o I L !I(' p:lck 'i('c Itd
it 'IccOpt J 1) 1 e I i 1; k I.- c a luau
I or -1 1) 1-- f i ci n I hk, t It it t, k... o I-].- tt tltt
ni,it koL r, I L (., r t
relli'l i 11 i Im, t 11., m
i If rout+ I lit I I U11 I i c
n u i d p r lilt ti
r It( p" ! tilt
brrr, I I I k.1 t lit,
0
f OW L -Uhc
I 1ppr%1pri at c principal
t
f rom the C i t L o
deposit t. t' 11 i I c c o I'l I I Ii f iw In( c. I I );I!l
l"', wd I-tIsponsihIQ tC.r
d i s bi I r !; i n, ,- I If if d s I i-i;I I ho r 11'x ;I C C UII tv t llt
c o I I I r r al I v r appropr'iatc
app i ova I 1) y 1) 0 t 11 t Ilk' ( * i ! c H10 Off'
N. BW; i C 1 r(I,-, r.im Gt I i 1, I i lit,
App] i c,11- ion!; i I I it
:r(trpted un I v tram owners
v i 11." i if t ho I o I ow in:; .11- - I
AI I , I p:i t t I If
k" (11111t : !, ;I,
t t
1; flit I 1' () V "!AO I I t 1) V� 0 C I* V
W%11 I' p,jrl it- ipat in,r, ill I. 1tv
Re,, i dt, nt i i I 1\ ;l,lh i i I o I 1 11 rog r,tw I i I* c q u i I l
L o make.- r c pa i rs Lu iywo-1 Las. i c
decolli :I I c I Ild 'nI, I.! I I .Ire 1) o I I s i I ig d, 1 1 1 1,;
At t at hinow A ) 'Hicy may I I r; o
make rvim 7 vs (- o mc t: t the City () I M i a in i Minimum
housing Code dild L h i • South
F 10 1- i dA [:ILI i 1 -1 i I t i I d
x ( c c d LIIV maximum t wids
3 E
4
I',,a i 1 ,II I I• I'' r I, r•)I: r 1 ', t I r( "! '.I: t h, it r );( , nI' r- I 1 i:" p r• — . ," , , • I I 1 T I'. he
kill cicrI .ikon t k, I ►a, xt ,•111 t h.11 I IIe I , r1, a 1) .af t, c ! 1 1:. t ,, .•r. I III rk'st
I -)I the,,' ii:ipI-,)vl'rtll'IiI! tnay 110 I,X,'t'etI ?+ll f thc !. 1 I ltlilti,; `,vr) ,%:ed
Iur r,'b,ahilit;ILion to the pr-perty. Gen.•r.all\, impr,v.moit:, inelil'ihly under
UP HA Tit II I pr,r.am. ;are ineligible In"Ici tIIi': I,r,,;•rAm. ('ilia prour.un t•:i11
t(Ind 1-ep.Jir )r r( III .11- 'lllelat I I I.vo t a11.1iI F.II1'•1" :a,ik! 1-e1 riger,II t)r, atld
pruvidc wIn,lk,'.: air- on,lil (oriel" I,rovldvd oil rt;v oh wrvI1 i,)n 41•tndards are MVL).
I . hl ii,iltle R":, i"It ' 1) t`.. I.r,;I tl', :Irk' :I v;li 1:11)I1' I III (111.•I"Iv owlit'rs who rlloet
certain income reyu i rvImc'ni s .
a. Ownership: Owners of re, ord
.are f :I'' •' 9i1 h t I-
simply t iLle,
tiers,' I,'Idi
t It I.'
ei' 1i r II'tll •)illlhIo
t,,,, intereA
in the
propor-ly. Strucl_urr.
.,nt.,i:iik,:, ;, t ,!ur
units are
el i.;il l,'
for assistance under
ibis pi �wrnw.
h. Incorrt'
1-units: Pot• .,•:ner-ocE1)1),111
ans 1 st a,"
c vat ic4 a: I ordi uy
51 i ncome ,a,, i; ,:' n
:1tt :a"Almont ;.
Dunks ::
i I I I,, I I I I,r,ii c d t
c v ach in, opw r;atr:.•�
Tnv ry are no
income
i grits I,)r investor-•;.
howl vvr, ill'. nII)rs
1•)i 11 have a
l imi t on
(heir rate of reLut n
of invvsl arcnl .
. 'I)I)t' of l' iIlain, till As sistaIII: e Prttvid_,d- (.I,fR' UniI % I)eV,'II,pMVnL ISIo,:k
Grant Funds ':: i I I he used in conjunction '..i t h pri vaLe I until to provi de Lliree
basic" Ivpe.A of financial :assistance which may he used <,'p.ar•ately ur in
combination:
i. I}elerred
Payment
Grant: !Deferred paymvnt. grants up to $10,000
aru available to
Lhose whose inwmum is Qua:
50% of the lade
County n,.'di.an
income.
When .a dvivrred paymont
grant is approved
b,. t I:" I
i t y, III,,
lender ,.,'ill :Hake 1 hc' };r.,rit u'
in}' i uuds del).)!, i tcd
by the
t, i t,. A
lieu is I i l e d by the I .'ndu r
= I,oha I I of the
t'il%. `,
i'rt 501
'
It I:,, e•r.lnl pi ii. ilQ i�, writ(
of ach :ear
•'n t'
�_.... �..
83-63E
N
IF' 01
t II;t1 I he froI o1t'rt )' t IIt 1 IIIII 1 , It••
I )y!n,'4 �In�i ,)r t Ul)jt•;t h1' Lh'.)
hurroo-!er. I t it le Lu t hr 11ru{,,'rt'• i:, not s,nId ur t l.Iurlerred
dnr1111', the-\'t'+I I' It`IIII uI t_he I"Int the it'(rrI,tI 1"r;1111 1n11,t)mr•ti
a (till grallt .
h. Ill i nc i ll,l l podl!,. 1 inn I';Ivmt•nt : I ,Ir I i ;; i tl l e 111,wt•t'!;vc rs , t:1)VV; f unds
W1 I I be lltieti 1 o redllt ,' 1 he 11r1 lit' I p I { l,orro,.!-,d f rom tilt.'
1)riv,IIl (t'I,III- r t,) .Ili f tet_t iv flit, r'+,,t r,l!, dt-p'lldIn,• on the
!")r rowIe rlit „I!I,' {'er r--oil: lip'lllt ,:'.111. .It ,'! t t" I ivtIlit, I, ro ,t
-
r.ILes 0t t? ` L(1 )° tile m;l:: jmum Inl1`unt t itnhr,)vemolit. t I-) bo
suhsi(Ii.,od i; `I ,,l`thl Itir a siII,, I, i I) lit, ,000 Inr
t',It Il ltitlit ien,ll pit tt) Ill. Iximull) i :` 'tit' I r I lent unfit
1)1 t11)e 1't .
1•Ur t' 1 11,' 1 h 1 e I live (t/rti (l?itc 11111CIh ) I I he ll',l'+.1 Ltl I•e(Inl t' LIle
I)1.1I1t Ill.l l :Ilion111 1),,rrt)t•.t d ( real I lit' i,I-i V.It c 11,wh-I- (,t .1t1 t•I t 1'(t l ve
Intl :, tit rail' nt flit' n);IXIIll tim Illh1!Irll tit ImpI-OVOITIVIIL 1.0 1)e
SLI1,SiitiZed iti LlIt' S.1tLt' it t4)1• ;t 11011h i1`-.11e1
`.;elnlr;ltt' 1 i('11 t;j 11 he ( i It'd 1)Y the 1)arl iCil,rlt in;{ instiLul [on
with fl :;uhercliflat e I ien by' the City for each I)riIi ih.)1 reduction
payment loan. The instiL1.1Lioil' s Iu;ln Iiiav he aniorI i?.ed over a
ma11tulip (.t'rm et I 1 t tt't'tl }i`!)rS, whl It' : ile CI ( \ ] lerl w I ] 1)1!
S It l -�( it'd ill f iVU
The r.11, I;I;It it:r t l'.ity-private ,i.tr•, Ifrull..-h Ih+_• loIIowing
IIIusI I -,It i.)Il: rtS,l!!11„ Ih.,! $1_),000 lit ri-hahllitaI iO[I W()rk IS Ic1
br tinanceJ I�r•
All ilk till),llll t.111111\' Jt ill l'I(t'ttl\'v ilit ('1"t:.t I it 111 i- (01- I`t }'e,il":i. A,;!, unit.:
f urLher (h,lt Llit• markt•+ ra(e for Stich it ttolnt• ifill) roV1'ulr t+1 lo.11l i ] 5. );'. T1)e
f i r s t sLt'p i s t o Ct,m1)L1t'. the InI)tILI y co:;! (or the ,LI1) li r.ct
I oml I of 1 \ e,l! - re(1111 I t':+ I Illttllt II I `. 1,1`. III,'lll „) ":' l ll t, `,'1,
dt•tI rinlnt• Ltll I:iIOLIItt 0t 1)1-iIIci1),11 tlllt lIl !)t' h+1rr(,'.^t'd a M t I ri'1.1 I:lt: fI)r t1115
0
0-i
inonthIv
Ir;I: '„ n1 . fl:c r,,.,r,: hl•, tt,lrn,'nl 1 ",. V i,utn of
$7,224.
I!I, titl� r, n.'• t„i�•,,�� n ;�• �;; �.i: .�i I',r' 1 tli: I,rincil,al
to;In
rt"ti11 112,
t , : f : ,•.1, ,.,;t � �,111 i,,,1 „f i 7 , ' ` t :: i ; i m 1 1, f lit
1, Idc•r
ct I ! i c.I• .. fh y ,1 i I I I'• i d ! it I.. its' .I• a
i 11 l ! r i ,i ', ( I,,,, 1 .I:11•;,t .I ;. I 1 • r„ j ,•,•I," I- ! i vk,
p. r ❑n,r,t f I', I h ! c . :. t, i I I h• r: c,; , i f i i c r1:, t, i I i1 r h1
l:it v Irl
J Sllbordi11.1t,' 110:,iI. i0;1 t 0 1ItI I IlialiCl I I 111:,1 1t (11 I,II
I)�Jrtml.nt---.I o Iits I•I:d r sl)w lal I r;:llIII tit •illy-,�:;, ! II City
rr,(I • t I p;1 r'. i r i par i n!,. I end,• r t to tkc� -I d i r, , t i list ,I 1 1 :rr,'nt l oan
usin► th, I:11'C) Iu!"I: i,•po"it.kd ..ith I.he 1c11111 r. 'IIII, rc' IoaII wi11
he tnadr II t h, IlnC c•f t OCt i ve• i lit c r,•:;t. rate as t h1 hurt t,c r
would 1)v lit it I-! t it , 1)rinri1),11 roducI i„n paymont :.a5 ;;,.., Iv
5 , Loan 'I'c r=n .11! ': Cond i t i oli!,
1. I',11 r• ttt 1t l 1','I nrI'pa 'n,fnt :-;;10u i1,1,.1r the
It. thi I i,,1t i111 !'r1,,•r.un t i I l 1',c�,i ,olc
lc n.lc r, x, c pt I1"1) 1r: McIIt Loans. 'the Ioiidr•,r i,llai l c:ol Ie(-t
paynlrn: s o I I i)c•1) rII I f or the' City. Such :'Iynit tits steal i
ho If,po•; i t I'd mint h 1 v i It a l limp -sum ,Ic <<,uIII t i t ;In'; . ol- pa i d
dire t I'. ;o *1w Cit•,.
h. !Z.ltc ihc' interL ratr I participaLint Ielldint; instituLi01"" ma_
chard ;haI 1 bo no Itiylwr i h a n i t s prevai 1 i tig r:ltc, charpt.-d for
homer improvement loans or the 'Pit 11I I !tome Ilititrovement rate,
whiI:hc•vc•r is Iess. Altornatc• f in,I:;c ing me( h.lnisms such as
variabic' rate, etc., are acceptable. ('I•h(I principal reduction
p:i:,nie•Ir till be raICuIiLc:cl un the interest r;ati charged at. the
t im0 of rI !iifig ).
r. Amount;: the maximum loam ul,,,n which payntc•nt by the City is
C,IiCulc,LOd WiII not Irxceed $15,Ut)t) for a one -unit 1)roperLy and
83-6381
or 01,
$'),lRW I t r ('ach ld,I I t i •-I1;11 un i I , t A Iila:; i!1!util oI ) ill,ll(1i! fur a
t till'-- 1111 !I p rt,pt' 1.1 \ .
I. TeI'm A1),' 1 o I m o1 '11 loans tnr' t11i prt'},raI-) hill },t, nt` more
than 19 verb'-.
pIr p- r1 \ ilnpr"\ 1 Iln'If'r 1 h! Iteh'thi I i t at ioil
IAit .i,'rI.p!I 1!I!'l1, I !!t t •'rlll 111 ! lit
it. 111 t,1 1":1111 1 ht' l;t'•'il't'.•'llt'I' iil.l\' I,•• !'t' III i I ed I o p,ly ( I•t•
• i I s t.in l i 14 ba g t!i( 1I t lip pr i nc i pal t t (!n( t i t it i'.1'.' r i',r lip l oan
ur i It'' u.ranI ilaviii, it Ih" print: 1Pa NO" t i''n 101%71''M •Ind :;rant.
pa ynic'lit l•,IlI b,' .Iii,o I"t I::rd % p I `: l'a r5. I.t,:I I!'.� 7'I I l 1)IAtilt) rI 1%cd
0VI, I* 1 \'',I r`� 1P:I-I\ !!1,1\
np011be) .
nt No penal I v m,Iv 1)c rhart,rd t o t It'' borrower in the
event I 1•';i11 1)1q,l1a\'rncnI .
4. T't't':,: Tht lendl'r may no, h;t „t' ,III\ ttri�4inat tun f('e or points to
the applicant except rt Asonablt at t uaI I v n d r Inosts such as
credi It r-t port., t i t le se irch, moIt,_,It;'` prupar-at on and recording;
fors.
h. Documents: TO I vndcr =sl ,.... i t n own X cuntvws, not ('S and
mortge,gan tot- Ioans clad,• lighter- I h' 4 prc};1,ar! excc Iit. 1 c.r i:h0St'
oI-mr: f urn i shed .IIId/ ter I- t•ci I i t i (1 by r it ' i• i 1 \ . I.;I,Ins i it ! Itt 1)1 ug;ranl
I1L!\' tle net t)) cd .t\' Ai-,, i,:.',II!I`c•I,t Ui Rt'ItI ,Ilitl Nu(. l I-) Sv I I
( 11 I he,v ire applicable), or by a ;,e( t(nd Tort gal"'.
i. Credit Standards: Lenders wigI u!,e thud nt,rmaI underwriting
stand i rds in making; loans anal will have t lit, I i na I author i t.y to
.I pp ru\'e or reject all IoAn al)pl icat ions (Department. Ioalls
vxt-epted t.
83-63&
0
'%I, I N l I I'll I ! t`w I'{,t' !!.\\1
l II1+ i)I't'II' !..1 tint":I I' I`M t 1 t'(I i,Il 1 III' I III:IIIr !a I !!1';t Eli! it)1115;
I(`rLt'rIit, :iI ."!:'(I <Il;nt'l. . . I hi' t'i'I,'I {i•, I:f i',• I I Ic'+ I I II`t' :11 ' it III
:III IIl';t Illlt t l ll,;' "r)I)+':;,I I' ;t 1 '.II II I'.I?-Il' lit P"11i It
�,i..11(,.,j!:, ,It't' 1��.11'1':lI I\ �.'.I�;!I!•,'l:.
I'I,.rI I !I,• II',I
11L I 1 Ut I .'II ;I111'it ('11t,'1" 1111 t` •1 >:1 I I 1 1.11�1-I'I III,'lll •: 1 I! �• I t \ ,�I I'I l a'?II Illy
ilk I-C't'I,!t'I t. 1 I I lt`sl t' I i`t' l)l' t - i I i\ 1 UuI i �,•It I t)11: 111 a I1,!' 11 l 1 l", of
f. }1)` i,.i ;'r. i t aIIJ 1.11" 1. tCITI tll+l (',)II r 1 II lllt0:11.
hl'I';1�'i I I i ,i� It,l, �'1 �,!• . Il i ,t!.•I>, .!!'+ I ,+ I.1 1,�1, I I ('11 .Illti 1' . ' .
LIt( t:'I I 1 ! t•11 ;III-1•t'I'It at h .ItI'I' .I!;I)L".I, I I'i ..I t '. r,.:'. mlk.' :1 IIIIIiI)—SlllTl
I cult, 11I •'I J I ()ll,l'•111, F: 1 I I, t.hr. I' 11!Itl'• .; l I l I.l' 'I i `;})u 1-st'(1 I t•Cllll
L I a( t o ,It'(+ 1,11 ;, t+'I' It 1)••r`t".:I't'. Il):it'(I, 19 At!—ichim tit I),
1?•i a �. '�)'. oI ( hi- { t, I iN,ItIk. •IIItI .1 ;-111:, dll! i ;I !1!U .I t)'.' Int''t- by till, L.i t. V of
r; I i 1 I it •.j' - ,lln1 i''{, ':; i r I ! Ilntl , . I Ili 111 11' 11.1 rt'I:,! I :l t. i uns w i 1 I hl'
l}it' 11anI< oI tht .. 1!t'li al{r+'(''?'Ili I'rlt,'1't'il Illt.' k,iL' al!ll illy SC'It•CtOlt 1CilCll!1-�5).
1All 111't IL111 IOII :I'I t1101.1t acLCl)LIng il
I I11, 11 A, li'i)t'.. I i . II.,::., ! t 1. . 1 IIII,I, .,lull I. I>t)•: i t t t ! 1
hl' i nst i 1 i un must
hart. iL IlaI t' It, ! 1,( (i i,r•),_
1 i i i:: i I kit ;I!, l-ili,mi t 1 l;rl`l,c,s,I I :, n•uti; t;;r1'.' t hilt. Lhl'rl' wi I I he
tit :Jlti, rIliti'i,II 1- natltli"1 t`I'i.!;"i lit rl";'lit
ubIl ;L IUits, ..J1'r. ;tl +' :'1'''1,-t :+ '-1 .. 1I111I('r thl I qr^,:5 .,t CI11S :IE!rl'lI;,l'IIr }n
a ULII 11')i', L11.` 1''I• l� ' .1;L ;l- t-t.11 +' r Ill• 1'N Lt'11t tt) l:'lll l:tl L;1II(Irl L IC'.`. 1W l I hl
roprt-!wnt,'; iill;! i111;; t.11l ;I•.'.1-t•I'mt'IIi tih0ILEI11 it. i)t' :ilr,Irllt't1 L0 tI;'' ':I'n(II,r.
iS` Ilii'?I! t 1 I l' ! :, r I11 S 1)l"opcs;l 1, r lie 11 II:I?1: I I I I its 1 t tit i on
a,.;rt•t", f :I c +r:;,i) l 1 :. 1 L (l !'.':+ (' 1.1 t Vl' i.': dI., I No 11 2/+U t-lit. 1 i I t-d 111'.liva I Hn: )1 oyrncilL
t)p1)01't.Ullil\I aS aiU'll.lt'(I I,1' I.\('C'tItl)'I' i11+It'1" i'tI. I1 j/ ). as sitpI•i('mvilt-l'(l by
83--6.3t•-
0 0
to part1,`,'I:f f I-Ih„r I„l-iI II i c ,Il11 {';Irr i!•
i.'r 11
I;r„f;,•11 Ir1 llf irm,lr i.l' :I, r
1111 ion oyl II„
c',I f,r I,Itif,nli ri.•i11,
or •I;, au,i rh:It
s1�cCil if `; t•I1}_l'I ,',;Ii:, Ind tar_,'t !.Irc'; t I I t t i ai,Ifut, , t:Il
i,'u ? th,lt_ lIi Il;.
!�. :ivrvicC �, I'rc:vicic`d I •. I'arLi�. il,at i,1�' ' f l�clt•1 � , 1
In.nfl--.;.im dl!`,`sit I I`.:Ii i.I'`I,
1 rl, ! icl'nt ial
r,,, ; i � "1 i �� .III i •it , r,.
Holt,;h i 1 1 i 11 i `' {'ri t r,un : i I I hf ;, tf
r;
r i IIj', ,� . cunt
wit h tiff 1 c .I,!c'r ii l l iilic'r !•: i ! ' I I' t i i ,. , Int i i ,' In ! 1
t r.i' i vt r(r{:ort. i rl
fot
of hf r i I t '; w.I I i •:I, I -fill i rl cl 1) t I,l' 1, i t ', a
r, f 1 o t rd i it t i it ;I I
l 011t. r;i C-t. :I C'L;ot 1 .II I u:l`:
!t„' (.It -, -; f1it C,i C„(Lr; ,Ililr `, :!•-'+., 1.' I•` l wi. it I tilllcl`;
'.{1 iI Jl' 1!\'t'`,I l'd a I I d
dra!•. I):1r;11I111 n i I'., I I llt l 1l'Sr- r;lt • r. tl•.` I)I•.'t l til' I Vill'
;IIi Hitt I I r of Lhl
i live tr, nt: i l ! cIf : ,'n,l ul,u11 t h. i , t '.,n,, rc•ciu i rca;,'nl -,
I Lhc Ilro}xam and
nl '•,,t i Ir i":, :itf: t,.,rt if il`.II ins; IV11diu,; i11 lt_ut
TI !'•Ink rIlaI i sc I, rt In:1 :n.IkW 11t.I
Ind I-c: invc•stru•nl s .end
sh�l 1 11 r l s, !,,in ; i r;,,, ,t.l li' r I !If`r I� , , It I
tl di rc , i ,n t LIII
Ci Lv 1 I ri( II :• i n t lit, P-Aiah i I i t It i i I'I;:I,I titl.I I i :. ? 'l
l I: Inll C t i nuoil sl t'
securc•! ! tIll- !;.ink it Ih(' ri;Illil•'r 1):cLtrihc',i by Irc II•.
i,_d,'raI rcif ilat_iuns
for tII,' 1, itriI v , , I I„!I-I I Ii:,It!•,. !n i,I'.•l'S• iI1'• tf,' ;I t:,
f:l rhl h:f haLi l it:It on
Fund. Ihl' ilIVC';tI;10111 objorti�; i t,, :,,c•';c'rvl :!1 ;atcI
of Ilriit• ipill Milt! tC.
maxiill ize• ill':omlronsistl'IIt. .gilh ii,IHidiLv roCluirc•n:l`n:.s osC;Iblishl'd
by t. It(- City.
I';Irt is il;-It i:II' I I I I i , V:i 1I ori,r il1;Il alid l rvic c Io:Irrr,,
a; !:• I I as make
(Ii J)ur-w;i.•nr tI I;t r-.,, IoI* As ilid ivifln•11 loan; arl'
Io,-,od, 1)arti, ii)aLilig
I I'nlll•r• ill i I i ,'..t Ih I i ti!I ( -s. 1'0W 1- su!'- lf. r,'nIII :; I or • a 1,
hur-r,n•n'r. lint h t I,c'
83-6384
W 0
It'odor' Ioan and t11, 1,r•i11, ii`aI rolho t it Il I1,1\m, lit t 1 1:1.,t('I tt',I r,Ilit I Inmp-.`;urn
(lt'pos i t (, i I I II,' 1) 1 A. od i n t II 1, ,I I t,uu 1 I ntl!, :. I I I '„' I i' a r',.'(I
!Ir),,1, .•rr i t t 1'II
a'tthorizat i,?n K thv (.its. I'uuds-loin ld ht in a n m r ("rtt (Ir,afin}•.
Lh,I-aximum
ma k v t I It t'1 I';t 1'It I, not I I It't na I (••r1 ololod h'' ill I('l(1'. ! 1'1?II!
! tt i ;t( t llt:rlf
t, i l l b, atl(I('t! t (1 t b, t' i t.' tI( n(,'. i t t, i n( 1• h I I' I
`. a i l .lb I t
Part isipatins; It'nclors (•:iII ori.ioat o And :.1r•.i-, i„A",
att'r,lil,;`, to
Lhuir standard underwl iling 1`r,,tudur,n. li, it rt•s1'on i''i I is i, ., wi l l i',
I"do:
vt'r11 is at 1 +!, of tppI i, .It i In Ii:t„rmat i
I_iI I Zan it !
1!, f('r;:11'I,,' i,-,!i l`t !I..Ix i!.o III; IV.I I, .'I(1 1:1" tl)t ( I .,: f, ..1t1
ill` 1, rr,':'1(I I•d
(`tit Al 1 nh!Iont of hot -;'(1wur' n "n, r"w ..' ouni or `LIh-a(:( "not
loan closing and rocord I tin of I,u('ps -:1 r'•: Huns
uns
pa•iOULS t u uentraltors al tur aul h,?r1zat.lon by Lho W l ;.
svrvlt inn tht loan
V. PROPOSAL CON•I•I?N'1 ,loll til:l,l{t:TION
The cont.cnt (If the pl•opotial :•.iI st`I-v(• ,1! the ba-.i-. tnr
soIv(I i(In of
part it ipat in; IcnAing inst ituLions;. W City of Miami rt`Sv"vs
Ih(' right. to
rejerl any or all proposals and 10 ncgotialle program rcl l"umvU, with the
rselcct(d financial ins! it,lt ions) oitru prnl,o-.rlls art' submittud.
All proposals should conLain:
I. !ht' avrouof If priva.v funds ihIt will lw (,Pni1.tvd by a
part.iripaltnt`
Ivnd!r'•• in, t itAlt icIn to thc' Usid('nt ial R(•habi I ilatiun
Program Inn*
hour i n; rolia I i! i t aL i on I bans , and anN rpsi r i c I i uu on
geograph i ca 1
arcA(s 1 t o l" Forviuod.
Cr('(lit- landard.ti and pr"t.odurvs to be n•.ed by tht, institution
in t1,t`
program (u n d ,r w r l t. i n g c r i L v r l a) .
83-63bi
0 0
I oild i tv,
r t)
11 L
c h I rl, 11w i
(11, of such
I tit I ou
pt l iil it ti'l f
i it',
c or, I I 1 1;,' .:i I
fit or !ot 1111 0 L
1, V i,_,
t I r
-,k :,il d bc
it t! i r,.t i, ot,o r t i,-it t it Itt ul
1. 1 f the
u r int, 1! 1, 1; 1 od r t, v i o w sht-cl t I d Wit Il L It
1, l,t t JI,I i Ill' d
o lit 01,111 1t,it.
11 c t r I• t a I I
t cal
L) I Itwilluse.
X t� (I
"ol) Ill, I X ITIllal t 0 1-1!1 of t Ilk' OZI I I Ilil I S t I)"
inc I UdOd 111
of
L-a Icil I a t. i lig
I I L I I! I I L
I.; i i I c I I. I d (I d
w I t,!,! 1 .11, 11 Ill--, t, I i I I
on a I t IM t V
Ill, i lit, !'I-oli. I od a fic dead I i tic
i or t r I 1 1) 11
011 lie-11 uli v I- j I i t r It r 1 t
1, 1) r )1)0 S A
adti t i ol) i 1 IT a t, C 11 9V t It' I r. t t kc I' r, po""
t-, t L' h0 I.' ha I- I i, at,t I i t .Irt t or act-u-i
1 w c, r k by t h t. -
t-1,d I H_ it I Lit i.,n 110t 111 V,
4 should
k. t 1 1, IU L I v , I I t lit r !; t - r v i c c s to the 83-63E-
■
itl, L it � t•f 'li ul, .ai t l ,'I.. ( ir' i,. l}, � �� . ,'�
r ic!t ! It•
rig' ,t ril'rci II•,.r, 'flit'
1•0 it, .:� ,•t! hV t lit` :' i t i'rc�i't�',.1 .: i i I '' v,t I u n
l.: i I t � i,,,,-f erri
th,•.;t' i„ i( .1 `�i.i � 'ii', i,� r '�• 1 r i., ,I �„II
1. Iilt� tl,nall:.tr,ltit,n ,-•� .11'ilit'. It Itr1 ,. ��i�,•,
.•ri!tir('�i ,ii �,
?. 'I'. it't',' I ,,f tt!i,mi t m,`ut ,t lint r, I f n i I I,u !`, t t
r },• i,rt, 2,':un.
fii, l,•�','I Intl r,,r::'., t c r i 1I,t 1 •rt ,1. t'r
,. fh.' .Iti1 •t: i.lt rti f ,', ,1,.,1 rll 1r ',' ; ,' i! ,.,! t 1 �, ;'r
I �:1'r•vi � t'ti.
llvinoiltiC C.II I,`i, Ut Iru(ic•r.,t ,1!it11,i} +,t f�„r I. 1 lit' i i'�Lt'i).,,`il
1)rov,r Till an(i
r li. ile l;hoI-11t,,,t!> t tt lit' .I
r,. {'r i r c•�;i:t r i t•1,. , ,lnc1 h i �t ,•r•� '.,�'r�, i n,; � t ll i,'.li, l i' ! r,':;i
.u:., .
il,' 1',' i 1 I.il, i ' ! !.,' I, I,,f, l I,t r.l• - t !.
r h, t. i ! '. at,c! r,t arC
;,t'• ,r.l;. iI1 .,n ti1:t_c!itit.,; n;lr,•
i. i iIc pr, j,_ . !.'.•;! ;,1 c. t r,ic r' t, f'; 1,.. i', n i
itunl}1—�ula
,!l`I,hnit tl ,:ti l.11'r-:'..' .-,I,i'. t� It•lilltl l' 1,i .l;i ti,,
�,, �l:.l ll.)t ,I�C fi .l
r i
!hc Jt'.'t ;t,1.tr'I,t tt1 , I:.irtn, r';hi;i hetwc•c•ii 1)!)!)1 it 11,r!
1)ri 'r,t. inst itut ions
III t'tl`,ttf't' 2 lit I1,' I t ': �', I1,' I �;Ilil,trll(',''! I- V 1 I .I I
i i.It I t)11, t'(i OI"L .`.. I11
dciin_; tiJ, t-ho pa I, I,.,I's 111) hill aS;SiSt. 11,11•Lit- 11,,-It :I'.I{ 1 i11a11C
a lIISCltut ioil- 111
sCclit' 11, Ill•'r, Lit,,ill,r,r alli; 111'c11t'.:Iiu„
I.ho IargeL
".II'I. I cl, .I I Fig i 1i51 1 1 IL 1 uII i lit 11.; A
I :111C C MUSt SUbin i C
83-636
I
�.1 I I' i't Inll'-. '
, ;Ilhlni t , ,•,i � �I , ., 1
1� ,.,! I'.,� 1,�,' , h,'.1, � �,.• „1;
nanl'
a i,lr' ,.' au i r ht t I, ; tl„n,
1," l 't r l t ' h i ddt"' In,i t ht'
wurcis "," i t v c' f i IT; i L,
'.','r:II,t'tl
th,' hi+11, r r, n�,!:rt tl!.It
tln' 1)id Irri,',•: r
t iu. at rh" f t I,! ltt'. Iht, hid
mil 11t• h,'d I11 t I
II 1!I' tii
1t' t' i l!,' il',11i1f Ilr,' Itl
1 i,114 }l,llt. Ill t lit, pc 1',011
r lit I'`il'tl': ItI I 1 I!i! ' ,,t !
.'.,"! 1 ' 1"!1 1 1,•' It I rl„ !'.I tt': .1 r,• 10
bc' rt't lIf-I;l t'
111
ot tht• ('i1 ,. It r:, c its t '!i lr'
o 1:, i c' i t t 11,1 i; I;•,t
r i:, t
`1i ut,i
t lori'1.1{1 1 I
t,r ;`'.'it � I in ��ti,.11
t t l! Ir ,I i � `,'.
, , ,• ntnc'
I'.,. . '�!• ,� .•I I I,
l,t i t r r.
t l . i ei t ,, 1, . ,•1,1
„1 . :i l , t nr t ht
K,•ri•1 .I 't,
It• 'i It !' I II
I I1, t „
ava i 1 al i , :,`t' :1.,,
a I !;lt' 1 . V):I :.,. a „n
t ht .. c , ., , l i t Il(,. I, r ,) t II is t he
It!I r,'d
111 > ':'11I Ili! ,`I ,1 i1',. ti. r,'cfw
III 1'• •'!II Iltl',t'1!1 ull Lilt' (,1 t.\'
rucl•iviII.', tbt' %.:i?Lit'ri
.1!'i?rt`l',tI ,-t t-he1!11it
1.iit,•ti i1cpariJn,t'ilt. of lktllsillg :.ltld
L'rh,ln I','vt' i,•'lu.lt'r.t t ., t i:,'
t v rm, t,l Lllo Aurt't'mrnt .
111`: 1 11 r I Ilc r Illt'st
ions on, ,'rnill}, vaI—I II
I't t:; 1 1.ti (,I-)gr.im ilia bV
di roc tcd t0 P1r. lost'I)i-I
I'. i't r1 InL, 1'rincipl
llt:u5in,, ,i)c't ial it,L, IlcparLnlcnt of
comcluniLv Ut oIoitm! n1
t It 1. 5711 i,;l
1)c a 1)rt'spcc•tivc bicldtrr's
ronfc'r,.1,1-0 it- 2 1'.Pt.
oii iit'tlIlk, s'Iav, Aitt;l)st S,
l'1:73 at tht' 2,nd FI,,or Confcrent, o
Room, C i t Auministrat
i, I BLIi IdiI1g 215 t,.'W ?nti
At to tiI�scrib,.• th(' program and
respond t c i s-mi's :dll i,_ h
vIAV 11t' 4'i'lit`1'at L-d I)',' I hi S,
Rt c(Il,'tit 1 01' P[-OpOS,115.
83-636
IF
AMAN'1 I A1'ilr NT A �"
NUUSiN3 9UAt11Y 511N0AHQ,;
Housing rehabilitated in this prugram shall meet the Pe-forrr.nce rvjuiremr.,ts set forth in thi, section.
In addition, the housing shall meet On Acceptability Criteria sot forth in this nectioA.
A. Sanitary Facilities
1. Performance Requirement. The dwelling unit shall include its own sanitary facilities which are in
proper operating condition, can be used in privacy, and are adequate for personal cleanliness and
the disposal of human was'e.
2. Acceptability Criteria. A flush toilet in a separate, private room, a fixed basin with hot and
cold running water, and a shower or U b with hot and cold running water shall be present in the
dwelling unit, all in prcper operating condition. These facilities sh311 utilize an approved
public or private disposal s,,stem.
B. Foud Preparatiun an,s Refuse Dis^osal
1. Performance Rernrusent. The dwelling unit shall contain suitable space Ard equipment to store,
prepare, and sere,, fo,.!, it. u sanitary manner. (here shall be adequate facilities and services for
the sanitary disposal f roo4 wastes and rtfunQ, including facilities for terrorary sturagn where
necessary. (eg., ;.rO ,_:e cons).
2. AeeeptaVility Criteria. IN Brit ;hall contain the following equipment in proper operaLing
condition: rcoking str,vi or range and a refrigerator of ap)-apri m size fur the unit and a
kitchen sink with h . W ;d twining water. thn :,ink s' I d, i;n into ;.n approved public or
private system. Adequate n ac: for the oturj;e, pr�paritiun nr,; surviry of food shall be provided.
C. Space and Security
1. Performance Rcr,uircrent. Ito iwellicg unit nha?l afforo t''e fimity Adv;uate opect and s-ciritj.
2. Acceptability Criteria. A living room, kitchen area, and bathrcom shall be present; and the
dwelling unit shall contain at least one sleeping or living/sleeping room of appropriate size for
each two persons. Exterior door; and windows accessible, from outside the unit shall be lockable.
D. Thermal Environment
1. Performance Requirement. The dwelling unit shall have and be capable of maintaining a thermal
environment healthy for the human body.
2. Acceptability Criteria. The dwelling unit shall contain safe heating and/or cooling to each room
in the dwelling unit appropriate for the climate to assure a healthy living environment. Unvented
room heaters which burn gas, oil or kerosene are unacceptable.
E. Illumination and Electricity
1. Performance Requirement. Each room shall have adequate natural or artificial illumination to
permit normal indoor activities and to support the health and safety of occupants. Sufficient
electrical sources shall be provided to permit use of essential Plectrical appliances while
assuring safety from fire.
2. Acceptability Criteria. livin, and sloe; irg rocrr; shall include .,t least oue window. A ceiling or
wall type light fixture ,hall be present and wonting in the battroom )':d kitchen area. At least
two electrical outlets, one of which may be an ov!rhead light., shall be present a;id operable in
the living area. kitchen area, ,a ' each bedroom area,
83-636
0-
U
F. ' I
Lruc tur d- er i A
1. Per for r.,,ce P.? iu i r, 'r- -, , , h i.. dwe I,, incl ;nit shall 1, P , t , , - ', , .!
s
1) a,,
i t-0 pose Irly
threat i the ;i C, a frty tt , occupant I r,
t
C u L 1 t, ', 5 f rc:- the
env 1
2. AC r, ep t r j t I., r i Z. walls, F i j or n , n i io
.'p f
$urh aj severe
buliin-j r I e ?n i 1. 1 1 r .1 e tl,) I (. s loose -..0 r .I M d e I i I15. '•".?".'
.'.i�.t'i]
,.Aireable
movement
under w a 1 ML .'A r1,1 parts Cr r 0 j
fir- and
the rooF gall be wvjthe.j,:5t. The
not
urf -ce ,hall t
-p(.t C �l a -
Ve seriousk4 U jV_
I i d i n or
s u r i o s das.aga, the c -) n C) r I I-, t'Q U r
',Mirwahalls,
p r r h 0 S, .al!ways, etc e as il o I r -r
ri;t.ir,i
riltini. Ilev3tors
shall .be m a r t 'i i n r! ki it s t f i nd e p + I c % r .- .
G. Interior 4ir Quality
1. Perfcc-7-ance Pequirc-.Cnt. 'fie d.elilnj 1.n:t rh il 11 L `re' u t :, n L the air at levels which
th-tatc, the health of tt-,e t.ccupant,-
2. 'he J - C I I , n ; 1!.- 1 ' , l-a :1 i),_ I'r f - oi it ! r Us levels rf lir pollution
(,,3s iv. .' Z , dust, r d 0 L tj 4 i jrj F,j I a!" P , 11 u t a it circulation
shill De ad'quaLe '.nr 1(t.;hu r i t - H --- t` " W)rP al'c it :.,a,.t 1 C .indow cr
usher a4r,;ilate •'Xha vent; 3ti
H . Water S�~C-2:
1. Perf e M, it . '! ' .�i I'.' _-LP: : "; ',*!'. I Cr
i t f r j gin: L r . t! Jr. j, w c I v . t
I. Lead B_a,,c-_d .? i; rt.
1. Perforripce R -, q i. i ' r en e: - ', . ;tic l. t, ' I ; -i up, it hall be ) ri rp I iric c w i t !,. h 1; C ! ead Paint
ro�-,jlztticnz, 24 C F P art i', s,j e d t; r s u an j t h,! L i! if! r; OJ 3 i n L 0 % L-n i nj Pi c v e n t i un Act, 4
C . IS 4201.
2. A c IL i 1 r i 1 t. r 13 L r ma -1 t. t, q u i r e rr t: r
J. Access
1. V e r f o r -. a,i t: e Re g -. i r e it, e �i t . (ne d . E I I i n q unit s h a I " be L 'A,"It: arm C il� :') ' 1. of being lraintained
without unitNor ized ij,e ;;f othe private properties, jr-d the ,,hall ;rciv; It- 3n alternate
ceanb ct egress in case of Fire.
2. A c c e p t a t, L 'A : t Criteria. ',tic dwelling Lnit shall. be useable and .at -Al e of LeinQ maintained -without
unauthorized use of other I rivate properties. I h. e bu i I ai nq shall orc v i de an alternate means of
egress in case of fire (Luck 'as, Fir.! stair. or egress'tt,,rruoh 6indjwn ) -
K - Site and or hood
1. Perfcrrznce Pe q u i r v : t o t . i ;. e s : t r a n a n e i gh I - ) r h c c d ; h a I I Le - t ;is c i i b I y -_ r t: e f r ot disturbing noisrs
and t e% -artierattons and ether h zards tc -.;.e he,d th , safety, and ierrral' be I fare of the occupant,,
83-6384
CD 600 (G)
■
.+.
i
2. Acce�,tat) iIi►y Criteria. .he :ite and nri1F. s ov: ;:per,:.
environmental conditions, n3tJ'al or marnade, Su;t, a', a rr :5 • :L Sr';:, insl•,billt},
flGod iny, poor drainage, septic t,Mn 112rK-u{ sew aye har.a-'. or „j:.li tr., Itn,:•Ial .sir Foi:ution,
s-nohe or dust; excessive r,Jis vibrali,,n, or v r h i c u i a r- t r a cv .iv, ?cr,if- uia'.it. 5 of tra,h,
vcr�-in cr radert infestatin: ; c tire har;frjs.
1. $anitary r'crditi:n
1. Perforr„rr;ce 5e4uirom-an t. ',,e unit and its ecuitrent st,ali be in sanitary .,n(;iticr.
2. Acee;:.-.biiit) Sritzria. f:^ r.it I. -id its ee;ui,•acnt :,hall Le `-ef of vk—r.in .arJ rod;!)J infest;:tiln.
M. Eneray Efficir:':y
Perfor-ante Requirement. Ca,il4in-, and weathe^strirning are require' as energy cnser^ping irprovements.
Other appropriate energy conserving improvements such as insulation and tturm wir•Jow, r..':st h,e
accon;li•,hed as part of the rehabilitation under this Pr,•gran, to t.^^ 1xten t that the Prcgran
determines these improvements to be practicable, test effective and +inancially feasible.
83-6361
m
N
i lRt.l`T iRk::A5
Ca
Fc�tS�'f
s
ttcl
ModeI �� y
Cieg 1
� 1
Al l.tltrti'e':i nw!sq;.
crud - - r
83--6361
'dn
8 �Ibov(,
I �'ioO
o
-j
i 90
it
14
)l
411, '1,5
4
83-638-
■
,l
ASSISTANCE CA I LAOR1
PROW! "FlEf IQ
1"N'•:1'. " I .•.SCR I VI II A AND VR is V of ,; 1• , 1
I Wmt lies with
PirWLt. , rant
up tr, $i,l, ti, t c.t t ;
I , i:,t,•;
inco"vs beluga
Iir-t, than
other i u 1 c vi. tin :,; n v k
m,nt!;
5\,.., of median.
allowed. Nv
runLal units ar.hibLrd with a 91AM.
Kra", forgiven
over live year
term provi,;rd -,our waiwtr,i,,.
11 Families with
El igib►r for
Department loan or Arr,nt ; Fl igih>
fnr Principal
income 5,,1.E of
RcducLion Payrwnt
un long, wn%imum of $I ;,wl
W, t is VL unit,
mtdian income
WOOD each
addi.tion41 unit. ,. halo l itoWd tj
a maxiou" of three
and less than
units; Effective
interest rwo of 07; Maximum
term of lei years.
551 of median.
IIi tamiliew with
income ; 5i. of
median income
and Los than
Eligible for I. Qpartment Logq or Crrrnt; W igible fur Principal
k-ducttor: Payment on loan rw: iw: m of SI9,000 for fir5L unit,
I-000 In ;ch additional unit r rh.,bi 1 itat rd to .z maXimuttt Of three
.•,tits; Et rest i vp int crest Ato "r in; tlaximurn term of 15 years.
IV lamillen aitn
Wgil-,..
for WparLmI-nk l,t.•, or 6ranL- RligihLu for Principal
income 55. of
Redurt iu,.
.'.,,r:crtt on loan WOt, M Or $1 5,000
for first unit,
m diao inrom
5',.000 , a,
h iddi ti.unal unit r, A tt,l t it.aLVd to
a maximum of three
and lesr. thmn
•.t ,its; Ef
I onLj oc l at er11Fn ; .,r , ,, t •-.•; "Woun,
term of 15 years.
7.
V iamilivo tail,
1 ,_1i icy
`or D,1�,tw nt i,W1. (,rapt; Eli• il,ie
for innih, tl
7 r. -
A"OUcr iOn
i A mrnt On Won n!xin m „t S1 .400
for first. unit,
tau..iaU i,LZZ V
,5.Wo v,:h
wdditinhAi unit r•'habili'ateu to
i maximum of three
.etc 1"01 Can
units; hf:w
ive interoy ra,c "f WiMUm
Li -m ut 1" _ years.
8`! o..f dian.
VI Families with
Wici.ble
for NvparLUWUL loan or granL; Eli_;iblo
for Irincipal
incomc 851 .,f
Noduction
P,ymenL on loan maximum .ol $15,000
for first- unit,
ttvilan income
11.000 -aQ
additional unit rehabilitated to
a maximum Of three
and less than
units; Etfoctive
intervst rate of 4%; Maximum
term of L5 years.
131 of median.
Vil Families with Eligibiv for D"Partmunt learn or grant; Eligible for Principal
income 95•: al. ReducLWn Paymenr on loan maximum of $15,000 for firsL unit,
trediln incoM 55,000 each additional +.snit rehabilitated to a maximum of three
and lobs than Units; Ef fccti Ve intervat rate a; 51; MaX _'ilUM Lerm of 15 years.
1051 of median.
viii Families with Ei i ;ible for Department ]clan or grant; Eligible for Principal
income 1051 of Reduction Payment on loan maximum of $15000 for first unit,
me.lian income $5,000 each additional unit rehabilitated to a maximum of three
and les:; than units; Effective inturesL rat. of 61; Maximum term of 15 years.
1 1 V of MOW.
83-63&-
110
IX Families with
iucor-v 115% of
mr d i r+n i ncome
anc; less than
12 of rnr!dian.
X F:icni 11 es wi th
income 125% of
median i.mcomnw
and lusr- than
FIT. of median.
Ei iLjble for Department. lo.mmm r for 1 rincipil
Rcci;:cti�n l.tv.-iient on Juan r,mximu:i of for fir-,t Umiit,
$',,m)00 eaI_t: additional unit Ik'hIt.i1;+:ate1 to a maximum of three
; 1'f jr t.ive int.2rest, r,it., of 7:,; ";+ximr.um tk+rm oL 15 years.
E:1 i'Oble for Departmeut ioa�� :m Or ra;�t; E1 igitmic� tnr Principal
Reduction Firymec>t on loan maximum o! 415,000 for first unit,
$5,090 each additional unit rel,abilit.atvcl to a m:mximum of three
units; Effective interest t'+mtL' of 5,.; Maximum tarn, of 15 years.
XI FaniIies with Eli6ible for Department luir or gra,it; F.lif;ible for Principal
income. 135e of Roduction Payment on loan m,m'ximum of $15,Wo for first unit,
median income $5.000 each additional unit rohahilitated to a maximum oL three
or more. units; 1:ftectivc interest r•ire nf+l,; Maximum term of 15 years.
83-638!
A11 QVIENV !)
,rt .
in v ,ita;ippliratb,!-ty i•: rrquirct' an-1 lion rrh
revo.: , is required. I Ilil) shall Horn, it
pursuant to the pm .isunr; u` I il.l)
1 fjodhool. 1390.1.
§ 570.513 Lump !,""' :fravr,iuwn lcr
property rehabilitation llnjodog.
Subject to the , unti+tici, . p: c ,,.rilu:d in
this ser'.in:t Iecipit n':; of t•i oil!- undi r
this fart play draw fund:, L-urr the 1•!!h r
of ricdit in ,, roll) !,: 1,!,rill !.r,•u to
I stablish t rehalLili!otion food in nn' or
mole privilte filla116.11 intitituli+:ns fur
the purpose of financing chit
rehabililatio;l of privately ottlic,l
properties as a part of Cie rix1pient's
cornm,inity developr;rent prrr•rarn.
(a) Definitions. (1) "Rvhalaihtation
fund" means a fund r0abli:Ax,, v.ith
block grants drawn dutvn in'a lunip si wn
from the rrcipicol's letirr of credit for
use in a rehabilitation financing program
under the terms of an agreement
between the block grant reripi-tit and
lh2 depository private financial
Institution pursuant to the requircm•_nts
of this section. (2) "Private financial
institution" means a depositury
(including banks, savings and Irvin
Associations, credit unions and other
financial institutions), in which deposits
are federally Insured, and which is a
party to such nn agreement. (3) "Private
funds" means the funds of the 1,flvate
financial institution. Private funds
include funds held in trust for the
benefit of bondholders or nolvhnMc:!i of
the. CDI3C recipient or is agcn,:y where
such bond or note proveec!s are to he
used in ccnnectiol: with the
toliabilitatinn progr rn. t1)
",:,:}nallilitalion" means the :: tit itinq
cli)lible for rchabilital,clr t f :,tt,:rr:t tie.
pursuant to y 570.:0;r), inch.•'.i lice
ac..l:,isiticn of plopertics for
wli,il ilitation by ptivate vr,titio.
organi:wd for profit or on n not• for•:.rofit
h i-is, and the rehabilitation of
cornmciri.tl and indusuial f;u:l :r at-3
slrurlurvs pursuant to 57t:..^.C3,,t )(1,1.
(b) Re,ei:•en,rnt forcrc rrerrrrt. A
written agreement fat tile. deposi, of
block grant funds to establish a
rehabilitation fund shrill lie cxeculyd by
the blocd.'grnnt recipirut and
participating privntc financial
institution(s). The agreement shall
sl,orifiglly describe the oblitl;itiun3 rind
re: ponsibilities of the parties anti the
loins and conditions oil tvhiLlt such
funds fire to be deposited and itsed
consistent with the requirements of this
section. Except as may otherwise be
authorized by the I IUD Arrn Office in
connection with approvals for uses of
the rehabililation fund pursuant to
paragraph (e)(5) or (7). the agmement
shall authorize the use of the•'
reh.1IAi!;3!!on ford nn!y in ccnnrction
Will) grants anc loans mode within n
pvrio,! of Iv.: yt.lf::..cm Iht' dale of the
of lino
p:opns-•.1 nv� r,; ,!rn r.. I funds in the
r nu::! St,a!1 irt+,'„t!r atr0:rot on
,:itcrc`,i r,,t.r ! 'l t.., a.f ...•. , ul strait
aat ittench rind
ct t�•fiti^:, ; :+l e su!,j, . l t,; l;.,, ;r:o., isions
Lnvt rin`in,: la:.,;, u;n ttra:':dnwns for
1),0!l..rty n:!!n!„Lt.ition 1 5-'U S13 of lhtf
Ht;:) rt;lc;;t;tcn, nn cr;rnrnt:;,ity
c!rvc;+!in.:^tit blocs sr;!it!s, 24 UCIZ part
57').
(c) lisus- of relic`:ilitot:ar. ju,a<i. The
r( imbilitalicn fund may br• eland for the
(1)'ro make d,r t.t rt.}rlhil Cation loans
orfronts to p,r:perty own!:rs;
t2) To pay intern:st suhsi(lirs, or
establish a fund for pw, mcnt of
subsidies. oft i'r);nIll iitalion luans made
by private financiai ios!iluliulls with
Private funds:
(3) To guarnr,tre (fit! repayment of
rehabilitation luxes made to prol:erty
owners by private financial institutions
with private fu:i,is: or
, (•1) To set e as collateral for financing
:,ctuully extcr.dcd to the applicant (or
a:,nlicartt's ng,lncy) where
financing is ust:d to iarikc re!,ab:li!:nlio.t
loans or grants.
(5) To fund resrr: cs ana/ur pay
issuance or administrative costs In
comieclion v: ith the issuan,:c cf bonds
or r •les by ti,e recipieiit fir it, ,,._ncy',
who"C suc.11 hood or note fin r,.c:l are to
I+c usrd to furl rcll:+tb:hts'ie 1^a;.; Cr
(6) ^or tltc payrr,en( of ,! i:,•a!th),�
ad,a,nis':.,tier fv, s i:nd char ,cs of the
htivale finan•rind ir,sli;.::or r,'. il•',i to
th provil,ion o fir.anr, f,., the
rrha! ,`itatiun of privatt prl,:, r1y: or for
f7) (th,•r ust•s ._ :ta :• be approved by,
1;UU con:,iO"Ill tt,t 1 1i:c obit, li v cs of
It!) lie! u.ji.%!atir:' i ;:cis merle it ern
l ricate jur;ds. Who:.: )Ile rt:habililit!ion
fund or other block srar:t assist:loce is
ut cd ty subs; di•rr or gun,: tntce thr
paysaril of rel.alnbtatu,n Inons made
,with private fullcss, or is used to provide
a supi+lemental loan or .t r:unt to the
borrower of ill(! private funds. the
reh,.bilitatiun loans made with such
private funds shall Le yubjuct to :he
same reuuirrments (:xcl:)ding the
treatment of loan tep;,yinents as
progratti inco•ne) as air applicable to
direct loan or grant a>.>i,tance provided
fur tl a r0mbilititlion of private properly
under this Part.
((-) 7;"nre1 unfit on start of use of
deposited funds. Use of the deposited
funds for ichabilitation financing
83-638r
aSSi3lance jr S , first loati is ma(le.
uuhsidized or goarnntred) must mart t
within •15 days of t;c (I,:pusll. ShWdd
usr of deposil-1 fund; not start within
1 45 da)•s, thi: recipient rnny be renui�rd
by I IIJU to relurn all or part of the
depesilcd fu:tds to the irt:t.r of cre(lit.
10 Return of tinersrd d"rosits. Al the
termination of the period tff tii-7
egreenlent, all l,nublt,;ated fends (rands
vi the rchabihlatiun ftoid that have not
been encumbered or di:,Lursed) then on
de.,(,sit sh.11l be rerurnrd to the
reCipiCtll'S letter of CrCdlt IMICsi I'll'
bl.:c4 grant recipient has been or is
bring authorized by IIUU to extend the
agreement for an additionnl period. in
addition, the block grant recititienl shall
reserve the right to withdraw front the
rehabilitation fund any tinobligalyd
amounts required by IIUD in the
exercise of correctiv(t or remedial
actions authorizcd unucr 4 S70.9ic(h) of
the regulations.
(g) Interest corned an the
rehobili..loticn fund. Interest earned on
the rehabilitation fund shall be tisrd
pursuant to the lemis and conditicns of
the aorecment consi ntent with the uses
authorised undo: i7aragr0pll (c) of this
section.
(h) Request for H JD-evioi-v and
approval of ;'Jn:o scm I iUf)
zrea office review and npr.oval of a
request for a himp sure draw -lawn is
required prior to tirawdov:ri. HUD
review can be carrier: out anylitne
during the pre rare vear but generally
IlUU will review t} "'c1, rcyuesta as a
pnrt of the review aild approval of a
block grant arpiicatinn except those
requests submitted tit conjur,cliort with
(;rants made l;•ider the Secretary's fund
for new communites. A request
submitted in connection with the new
communities fund is subject to the
requirements of t)iis section; however it
shall be reviewed and .ippiovetl by the
New Communities U r. elopment
Corporation, which approves and
udmwisters grants under the new
communities fund. All requests for
drawdown shall include:
(1) A copy of the written agreeinent
described in par 1, ra,7h (la);
(2) The reasuns for the locality's bc(icf
that the arreernent meet : the HLID
approval standards set forth in
paragraph (i); and
(3) Certificalion, described in
paragraph (I)(21(i); where the request
proposes Iha' the i-vricht to be derived
[rum lump sum d;a:vd:,tvn itualifics
Wider parapraph )(i).
0111M) review cr,terio for opp: oval
rf Jump sum dralvdown re,que•st. *1 !to
IIUD atea ofilre shall app iuve a rt•quesl
for lump sum tlrawduwn if it d, iewlines
that the funds will be deposited in one
or more private financial institutions
under :,n iwel vliit h in nude. ,, an- insli! ,ti— pr,)vi•I,•s iree Juan orivination
1
or moi r cf Ili- , , :.nm'mrnt : dr,scrih-i
services, the benefit would be r,uantificd
in parni;rat,), (:;i') ref Otis srctiun; mrrti
al; t'te :,rncunt of tiv: ,lire;t fee that
1,1 !mv:•
the !:•cn':f:l i st:. ,Icsr.:lhcd in parnF;r-yh
1•• : uti., rwist! to be paid f -.r
(1)(:) Qf tills ^'CiUr1; mrrls the to:;fs
91;( 11 Orrv:•
cnncrn:int;'):c aninunt of tirnwd,t'•vrt
dcscrit:cd in I',.1;7�;r, f! (il( i) of'his
('1 !': • s '",,: n :1cr,n: nrrL•n: iosvn.
surtintr, aril c":fu•rwisc n7c rt ; the.
7 It, n: t)I t of far: ! ; that a !1!06. grant
ruquireirwrit!; aI pwagraph lb) of ',his .
rrc;ipi t:t heel osr:s to t::aw fr,r deposit
section. Col,;;. ." '1' wi111 lie Ilation ll
fer a Iella!101t:llwn fund shall not
goal of expruit:.nq th;• (typtirtuniti, s for
cXt.vvcl t},: ttnt,r,nl of fund', that the
rrlinorily bu-,mvs9 ent• rprises, 11ir I F D
applicant rc;l;;r.nat,ly expects will be
area office sit ell encix:rnr.r: girt E. l;rnnt
required tinder the terms of the
recipients to use lnincitty hanks ( i b.lnk
nl;r(,wnrit,, clurinr, Ihn period of the
which is etvncd at leatzi 50 perc?:nt by
agrur.nienl and b uo, d on citilLN
minority gruup members).
(i) Pl;'or hrvl.l of rehabilitation -activity;
(1) Caen:i:nrents by privole fvtn:;;':ol
instittaions. (i) Commifrni�nt of (lncatc
or
(ii) RI:halulitalioll slaf(i^g and
funds for t}le rehabilitation financing
manal;rrni tit r,! ins of the Jncality for the
itAl lie
substantially in vxr.ess lof file deposit of
r ctiwl of tlic agrverient.
block grant funds;
(if) Coirniitment of private fur 1s for
rch,ibilitation financing activoic•s it
below -market interest rates, or with
Ioap,!r repayment periods, or at hither
risk than would normally lie'al,!,n.
(iii) Provision of admtnistrltive
svrvicea by the financial
su;,;tort of the rrlwbi!i':cLott f n,uli:i:
aciivities at no cor"t c,r at rrd:lrr,l ,I) •t.
(::1 Jtenrfil t:: ts, (i)
in/c,rst is pr: t obi- O;1 :.`,r r•�1 rJ,i!i:^G, :,
fund— Nfirll iwerest at t":r! nlat'•:t•t 1.11U
for deltosit5 of SlG1ll.,!' w;lf lrily;wfl `;i-r
Is p:oy'lule ('I the rclictbilitatnn far:!',. Cie
applic.l.'t must entity that the
ront7nilmrnt ,motet the' a, trrmattt
pursua❑t to }• 1r;7f:,ap:'4 (i)(t) p'.0vid••s .1
ri^nitir;l:�t t rn%Gl nit r!;c'� l!�! tlCcl:. ui
its 1 t,.,lniiUlt; l oi,j+c.G, ., c'Its,. :r,f
it'll). i� 1•(. , k .�!;t ci,niir,••tL,tR, t.;•u h
eerllficatic'. 'shalt Le ac,.r•p't:d by 'Ile
At, n !ll i,.t: 'n; the !:.1111;1sc+ c r 7 ;cr tiu}j
the lequirciaer+ls (f Ihr, brrlef:ls te, t elf
i
this para-traph in tit- ,iltsvnce of
sub!,t• nti,tl t :idrn�e to tl1r. ronlruy.
I
N) It•her• 11-'J rir,t rote I:!&'rCsl ,'s n;:t
I
,�u; aLle on tho ichnbilitatio►t fund —
i
When less th,+n the ►naikvt rule interest
is papa(,ic an the rehabilitation fund. [tic
I
value of Ilic benefits of the comn:itmenl
i
under the agievrnent must be tit least
equal to [lie interest foregone. The
I
comparison of the benefit and int,-rc;t
foregone shall lr' based rn the
I
following:
`
(A)F•:tinuircoffnrr,;'oneir,!crest•-An I
estht:ale of the difference between the
lilt -'rest payable under the ao7rrrtt
and t}I^ an1011711 of interest that would Ito 1
tamed u;1 the uslitn; tlt:d avi-ral;e
ntun(My balance of the rehaltih:atiun
fund 4.1 the markcl late for deNusite of !
rimil:7r maturity unrl t;izu.
(11) F.stimWe of volm, of bent fits --A ;
quwitified csunt.ttc of Ort! value of tc,;t!
bellefils of the Comrllit,;;eIlt under the
af:rrernvnl. For exi,m{firs. if as it It ti orof '
the dt:poyil tllc: privitle fitancial
83-63Et
( I ) C i L'i of 'M i AU- i
(2) D r aw d own of $ 2 , poi, 000
(3) Name of f inane i al illst i Lilt iol, whill-C f 1-It"Is wi I I h(' 11"Poi i
4- )
Amount of funds reql-iosled by t iranLA il iulc-, itut lor
(5)
U!.,, of Rellabil it,,L I.)" Fund- 'killount
11, rec t Rlra5i 1 i t,tt.ion 1 oav,; XIt! ur ;;rants
Lo,n,!:,r FOCS
Total
(6)
Co-i nt..nt by I-i ni IL'Atioii
for
Private Fum!s for Rt habi I iLal. i on aL
below mark ratcc,
longer r,,pallmont per-101S than 105A1,11
higher risk than usual
Admjini:trativ,- Service.,, at No of Low ':,),,t
7
benet it. TeSL (C'1--L:k Lille)
Market int-test to ')e p--tid clo dQj1,osiL 'InO
Rate
Citv cerLifici that financial insLiLutic-li's
cuinmiLpient I,,i)l provide significent, ben,,IiL in
niueting rehibilitat ien objvctives-
Less than mil-1,01L interest
a c u I a t o n
Esc imated inf.t,t-v:;t I "'g0l'C'S
Estimat 'i vaiue bell of it 7, of 4
fin' -ia' c.o
83-636
0 Op
I. REHAB li iTAT IO1 VW.R.AN AWKY A-1 N 11
2. WU S AGRMEN&
T, is node and entered into thisjT1W,-'y
3. 1981, by and between THE CITY 01 WAMI. FLOR15A ano havinqv an]
4. Loan Association.
b. 1. DE F-I �N-I T I W,'-,�
C. As used herein. Lhe fOlIOWiMq tOPUS ShOl haVL WrLh "ith
7. respect thereto hereinbelow (and if used in thr or plural, 5hdll be
S. given the sinqulav or plural mearih, thereof, ell thp context shall raquire):
9. "Pygment" shall mean this Pchabilitation Projcou PnenLy Ayreement, as it
10. sy he supplemented, extended and amended from time to Line, together with
11. all exhibits and addenda attached hereto, now or hereafLer.
12. "Assistance Schedule" shall mean the schedule of Program benefits and
13. limitations attached hereto as Exhibit "A" and by reference made part hereof.
14. "Association" shall mean Dade Savings and Loan Association.
15. "Adthorized Persons Schedule" shall mean that -Lhedulu oi persons
16. authorized. an behalf of the City and the Association, respectively, to take
17. actions, receive notices and do Such other things as may be necessary
12. Wreunder ov incidental hereto, attaLhel hereto as Exhibit "B" and by
19, reference rode part hereof.
2U. 4111" shall mean the City of Miami, Florida, a nnnicipal corporation
21. and existing under the laws of the State of Florida.
22. "Contractor" shall mean each and every person, firm or corporation hired
23. by Lhe Debtor to Poke Eligible Improvemunts on hii Property who is reimbursed
24. from the proceeds of a Loan node to that Debtor for such purpose.
25. "Debtor" shall mean each Eligible Applicant who chtains a Loan.
16. "Deferred Payment Grant" shall mean each Grant approved directly by the
27. City to Eligible Applicants in accordance with the provisions of Section 4.1.1.
28. "Uepartnent Loan or Grant" shall mean each Loan or Grant approved directly
29. uy tilt? City to Eligible Applicants in accordance with the provisions of Section
30. 4.1.2.
31. "jucuments" shall hman all Lean Pucumarts and all Security Docunwnts for
32. each Loan.
23. 1:1-pl shall vv3n Ln opdlicant fur a Ind" who is an Wnur/
'31. vacupant uf Lligible Property ON an HQb1t: incowa who requests funds to
35. NUJ"Lo the rukiny ul Lligiblu IuWcLVewv"Lw.
83-638,
OP
P
l l t. l c) i l ,vt OVrrl't'rl l', Irr i ,l I. r , • ,rt t 't' i .. i i ! i',I, 50
3i. a. the Cit; in t':r'i;iri'_t, , ..ii,i Mw fII", f in ,.0
sha I I "par t i!�.) rr into-" It t .,1'' K r' nK dose ,' i &A v q 10
39. lrlco,a Sch' Jule.
it1. El1�)fblE' PI'UiIE'It')' sho11 ili`an 17l,l't;:t'' 1-11 pr(Ijui'ty I uate'i withiii ony
ono ()I, mere.' of the gvorjraphico! orua`, tit' ur'i;, d lli th' Pr'vpur•ty %ChQduIU Ui
t
"hi'_ii to rusideritial dwelling ntr.r,:tu e lunialr:inq nc:t wore than four(4)
43. un i t'i has been .ir-ected as Mete► king I by the My.
41. Foes Schedurc:" shall nuall the APIQUIC Of Rey, to to hargud by the
A. 11'.q0Vjatin" tO the' Cit.r O"d 10 l' TItlr in e lllint'1_I WM hc'rt`"Ah ai.lrll:Yd
`it,. illr"Lo as Exhibit. "C" 'i:,l by roiorl'lico I .& po • hor'W.
1, "First hi hursevitll Dole' shill Walk . ;:t KV0 ..l VIA U. •ilill K ..Y11„
5j days• from the datc of Mosit of the Rehoh litot,itip. Ia•i.l ,ri:h
Ili.l. " shin 11 1 ' vi T �ic Cii i ,.l' 1 . Won t-apat I wt ! t o: t i,. . :ii ;i,I'-1 tll e) it
57. "I i:Co:,v Schedule" shall roan the 'beitleeirees ziltarnhcd herct,
53. 3s Exhibit W ana by reference ride part roll•, and an Lay be niudifiv.]
54. by ty, Lity from time to Linc in HOD publ iolies new Il'adian incohic stati :tit S.
"Ic :'e_rawd Loan" shall mean a Loin node jointly by the City and the-
56. ;sioniit.ion in accordance with thy` provisions of Suction 4.1.3. of thi-.
"Lo_al. Clus ink Iri_�truct ioll l hl'c1.1 itit" shall li,e'an a e:h,...l.l At, in
59. ' aktalitit;l ly the form of Exhibit. "i" attoLkd hLretu and by refert•ncc,
60. rude part hereof, transmitted by Lbe City t'i tht' Assu'_ial.wit ill (_onnocti- :r
r`1. 00 each L:.an q,1111Cation, which shall vet forth the Was of a r'equl':, P
ct.' . I ;.Ill.
ti.�. "1 !;lns shal , nvan, Uel.:art!i.._u i vIams orld LE ve:.'ayd 1 UdIWQ
1
(t•' , ' i. oa i`s We uh en is n inn 11 Ilv, n a l i dot rrl,cn I s , i n4 tr'ume n, t s and atyrecr:,l:l, t ;
Ab. t vid: nc inn or COncerniny a LOAM
ti,. ''liwri r." .hall mean the owner in We simpin of any Mperty who also uccwpiv,s
67. su, h Property, or at INSL pur't ion thernof. .
b1a, Pviric i jj i?eeiUCt1UQA iw"L" Aill l 1ilcman that dar'tia" of a Leverdced Loa it
It/b. lr,ido by the City to the Mobtor Ihrl.11;,)I, the Woclid f,iOn in 01CCUTAMM.0 with
GH. the hruvisions of Section 4.1.a.
1,9.Oyu; rapt Guilir._l_i"As " shill mean the approvuA, 1uLal ULlidelineS fur the,
/u. ut l r iLion of the Great No IghbOrhuud Raj idi nt i,il kuhabil i nation Progrdnr dS the
7i. swe may be amunded from time to tin.e ht•rvaftov.
83-f 381
0
I**
hl I I pod 0
A,
We with the jIM000
A 0 KM.
4
"rate" shall mean the how
int-Mt 100
r dnh"w n t Mum MW "i
75.
Lira by the Association in
connWicin Mh Lhu
Min, ul a Leveraged Luan.
76.
As of the date hereof thp
rase RiLe shall by IT.
FhP Aisociatio", upon
77,
notice to the City, omy raise
or Inwor such Ra,
Ati to ruflect chanpr,,
78, in financial market. conditions
19.
youlations" shall uwa" Titfu Z!, VON of
Fuderdl RoqUiatiOnS, Part 570,
80,
as the same may be awanded from
Lime to time heryMor.
"11;c,hiabilitatiun Fund" shall w"an
Lhv ;urn of
11,50Q,00 oh ainud or to W-,
12.
ul ta i nod from HOD by the C i ty fac
one i i Lhu I
t-iv ,I aqd uopns 1 Wrl wi th Lhe
53.
Asquciation by the CitY in aCCO"WCE
with the
R"Mti" Plus Oil dWsits
M
thei ea fter made Lherpi n pur,Gdht
hOrPtO.
25.
'Rehabilitation Fund Acccuni'
MW as "RF
('c.,-canW) shall nPart
36.
the escrow account of the City nAirLairW
with
th- An4uniatinh SO
97. wlich the City shall lapaSit. tnu Pohahilitation Fund.
'A. "Repm-ris-Schedw-1-y" shall mean tho schedule PC rnrurK attarhod Wrato
39. is YORK I" and by referLKO "aQ parL hercof.
90. 'Securi-ty—Docupients" shall owan vach and evury sucuriLy deed, murtgagu,
91. assignment, financing statement or any like document, instrument or
92. agreement evidencing, concerning cr yertaininq to any security for the
93. repayment of a Loan.
94. "Terii.ina-tio-n Date'' shall roan that date being tyelve (l?) months from and
9b, after the First DisbursehunL Data.
96, 2. RECITALS.
97. 2.1 HUD Block Grant Program. The City, by and Mrough its DeparLuent
98, of Comnanity Development, is a"tWized, under the CLmmunity Uevolupment
99, Block Grant (MG) Program instituted by HUD pursuant in the Reqi-ilati=,
100. to assist in tne preservation of tho existing hoWny :,LUCK Of the CRY Of
101. Womi pursuant, to the prograw.
102. 2.2 Drowdown. in conntction Oth the foreqoinq, the City has elected
103, to draw duwn a Mock grans I"mp sun frvm HUD in the awuunt of thu
104. Rehahilitation Fund for use in tho CUBG Progroi.
83-63F,
Alt
.3 Assist;ini:e
i l lt: City ill the P1,0JI'(1111 to
1;,-esi.rvation of tcxi. t iii'1 i , i i• ' I.
!�.•,�"•.,.rit,eJ hereinhcclutr.
2.4 Consideration. Ili rt-;i !: is;1 I ii,'
i ill. 1w.iLual covenants 011d Cnll(}iti(;IV, 1.1•: ,'ill
i 1 . VaIdLible consideration, th,' i'(-. 1 i,)t 111,1 ',tit I It i'. ;, of 1111:11 f11'1: ii''I
iill .,.knuv.ledged, the Association .tii,J „:1• city .,.:I't'?• : y'1 t ;', ',('L I,., �I, i,, l'�in
111. 3ASZAIILISIti'1ENT 01: Rr` ACt:uui;I.
3.1 OpenilU ofRE I t.;li(•I,,. _ 1� i :'I . , i L!, ti,('
t'I,l'n t•llth the Assoc iaOuil the i,I
3.2 Initial O(TL)si t ut i t. ?1.. ;', ,! l: , I.i. + , r, 11• i it .
l},. tll:l:ti'`JLilient Q3te, the C i I v .:1,3i1 ,.I,1.1111r,lt ti,
1
the entire Rt heb i l i t.i t i:'i; . ,,.:,J .
3.3 Use of l un'3s i un(:,,
):11LlUi1 at the oli'i:cLllit. j r
_Ui i}d1lCe� With the tt'I'Gls hl'I'l'. !' It � , i• ,. ! i l i I;. .. I l..
. '. l i .!;tJt1011:i thei'eUn �i:� fOl'Lii I., :!•• i',1 ,1,i�;t �, �i'•.
i 3. InV( S It. -ilk'1I1 ul 1'1.:t,'.,,. 1u,; f., -','! I;l i,c kip .'1t cotifit
iA i ! 1 be pi lid interest ho A11:11; . J i:>Jwd ft)j-
n o t recQ►1t ti . t. 'I y I't31-1 t 1,- o1 L I i 1'L e. t.'Il
+�S �aUCt1U11 :1Vl:Cal'i: U1t it i!
11:i('otlllL 13;.., i:i j , lit) d(111L'11t
5 Lei L11t.: fir -it wevl: or fr.lcI i1'l, litcc „f tiik' ,'tn+i(l;tl 'i i(:iti v iI I hu
1!'i.'.. 1;1)jvCt Lo weekly increa -.c s t :rL:asL• .,,, ;1.; 1. (1 IA;II(Lt tItc, iit-
1.'b. serest rate itivntical with LI;t I',, c 1iL 1.it, .::L,l1)1i:i1 f,ir
126:.. :lich Bills as that rato i.t.Ir c�l imi- .iuI Itv. LiI(
l: 'i. iu)-;ltioil of Lhr. .lci)osit. 1.,1(r0 il:ii J h(' rc,Jil, ,l n;();Jrhi', t(,
t iie RV Account . For 1>urilu IIc+rvo f ;,ills (, t l hL: J,t 1;11 I I r ] uns , i 1I-
1.!'J. t17k:t3t carlied 1)V tilt' A uC'1t11 I(,11 Jn 111'i] JIIVt-•sl. ,t'ttl`; illaI 1>U
] l!1 itlied to be ea.ned at l;.11'1iI'l 1':it "i 1> W11 COW, iL1I'I-L',1 i1, ('(titiUllCtioil
Lh a I I ottier ral-es, 1)c11.'i i 1. , 111L it•,, •.,i,I U1,1 l .1 .f+ll:> (�i t!,e l.lty
1 12. t o 1,1)e AsSOCiaLio11 :111.1 (+1 111, :,:..,0C i 1 I1)ii 1 0 LJ1k2 1, ji III-L- S 111;
133. Itcrrf_Lindor or as , I'vS111L 'It CI- - t .
131 . 3.5 Subsegt,erlt Lksit, . ;Ili- City
M. hr Account from tillii.' to billu hur(' I i :."r, '1 I 1 uJ h i(l; ;,r;•► ,•,,,.,;
13C. ot•lw: i ted. SIMI 1 becomt! hdrt of t i,,: i;l Jl..,) i I i t,l L i Lit. I Lli;•-i .
137. 4 . ASS I STAt10E.
138. 1.1 Type of Ass Isuili.:v. i u,o'. ult (!t'Ilu'; I I I 1 i,(
F' '`
i 1,'iL•
139. Lu t'61%v Shal I be USEd by the L, 1 t'. , ..Lit `,.} iI11'!.'(;'};j ll:f' (,,.,,!(: id L ltlr;
1 �t). at)�'tit, tU fund the tiiri�e (�) t_ I ,.i
83-638i
loll. 4.1.1. Cefir, cd Payr,rent r'= i c r', r;1 i 1;: f efr'rr3
142. ia;i ent Grants to thosFr Fli(ihle witl;in Catr_,w)rlv
143. 1 3s described or; the Inc.:;tes 501e"Julo to a us: in,u, el per
144. property subject to the terms and L(J1;'Jitic11s in the Prodra!u Guidelines.
145. 4.1.2. Pepartnient Loans cc The City will 1:1,ii.c; OF:partrnent Loans
14G. or Grants to these Eligible A111)I it oilty, :;host irrc. Ii.0 n Categories I
147. l iwough VI as dif ,;cr ibed un the a"id �.Jl ►r"ve 116L qual i f i ed
148. for a inferred Nays; -nL Grunt or it Lt,vcrwjed Lo.rn and ,:r in the sole
149. discretion of th,_ City, q.,:+lificd for subject to the tern•. aid
11,0. corr'iitions in the i royran; (�:Jidelinv'
151 . 4. 1.3. Lever aced
152. Paywents to Eliyibl Applican'.s k-;ir:)SO i►;LOi;�U i�, ';,rLhin t:.,itc.gories i till-, ,
153. x1 Os described on the Income.> Scht-dJe and t•,i;u received a-nroval fen•
154. :rs�istar;ce frodl Lhe Association Eligible ii,pc,rrur;eNts. The
155. arwunt of the I,rincii�al Reductiur: !',,}nr nt Will be Su':h t.rr ,educe the Uf ic.ctive
156. iiiLerest un the cc;nbined Principal Redur:tion Payment �wd Associatirn
1�7. assistance, at the lion of clusing, to the intYest listed on the Assistance
1 ;. Schedule for the Applicant's categui
159. 4.2. Required_ Terms_ of Loans. Each Loan slral 1 be evidenced by such
16o. Loan DOCUments containing such terms and conditions as the City shall
161. disclose to the Association on the Loan Closing Instruction Checklist for
16Z, such Loan; provided, however, that, ier any evert, all Loarrs shall be subject
163. to the terms and conditions of Li,e Progran; Guidelines and the folluwing
1G., teams and conditions;
165, 4.2.1. �e tlations. The i:ct.Lc�►• ,!,all agree to :ibic":c, by all requiremQnts
1G6, relative to its L - n contained irr the regulations.
Lach ! ,).+n inay ce prci:,tid, in ,.ire,le or i;r p,,cr , L:y
1(1� , a ')c�btcr without pre;niur,; or penal ty.
169, 4.2..3. Debt forgiven. un ua,.h cmi,iversary dote of OIL waking of each
170. Leverayod Lean, provided i.nat the rtc.btor• has rc_T1:1ir,cd a, tilt• Ur -rater• Of the
171 , Property troin date of nis Will, Lo ,c:ch -mniver•sary date, one-fifLii of they
172 . Pr i ►,c i pa 1 Reduction Payment shall ue deenreel fur•g i ven by the City.
173. 4.2.4. bue on Sale. Without the prior written cor;sent of the City, no
174, sale or other dispu;itiun of the Property moy be made by a Debtor within five
175, years of the Loan unless and until the! I'1111c:ipal ROuctic;rr Payment is paid
11n. it, full. Upon any unauthurized dispo'.iLIUrr 01 Uw Propurly by the OwIler,
r r
17 7. t � I-, e Lh,2n permi 10 LId by 1 n L i i i i, - i 1w i C; ,, tj i i L t,! L u it n
L
i it(. i id i ,(I , without I i t,", i On , I I IY 1,01' 111 It( i 1w I I f o I-i i v(- 11 pu it t
ijer-c-to, all of wilik.11 stidli be dc-flwed veinsf-lLfld, I Ill" 1 (Iccrued irlture"t
Lhel'eol I ( re - cal cu 10, Led , as licCi"_,Sit"/,::!t.ilU.it. J'k ji 1'(J' t.(j .1 rly I)IJ liC i j)-J I t
18 t.jjk-,t,t,,tofore forgiven), shall t)tCoi,i(' 0,11:'c"I i it U. 1 y Out, 'Ind Ijayabl e in full
1 t3 ','y the Debtor.
1 4.2.G. N Iiixsetiients . All i-I.YIli di -,hLIl'JV illdC 11Y th i-I A Lt t
18-11. sl,,j 1 1 be made iGhitlY to Lhe 10(11)1.:I,r dnd hO. L
AGENCY.
I W-1 . 1* 1',: I. i ty hereby oppoi lit$ ti.;O i'l t i oil Its oil vii til
tile ii ia k i i iq o f t lie L oa i i s , il i id (:1t1i.lUi1 i)'/ C (..': 1) 1 S U
188, the following terms and iJ co nd i t i
5.1. Duties Of it' elli.
-
I . I . RF 11C,.Utlrlt II)i ,'k I i i i Lt
f rc%.) ill !LNe RF Ac,.-,Ullt .1S L,ly'1j" lict, - -,fIr
Y ul,: bill(' to t
1 1-112 . to f!jild each Loan ill accordjilco the teriiis of till--, Closing Instruction
I j ", . C I ):,l LkI i ', t .
194. 5.1.2. L o a i i �U) I i c a t i c) n s - II i S s o c i I ioll hall Verify that all
applicants for Loans are
Eligible Al: 1) c. 1 it tvov i ded iluvi-Ver, that the
196. As ,- oc i I t i oil Illay rely Upull the dOtt-11':iJ lid L i OWI of ILA w City that each app I i czint
197. for a Loan owns E I i,l i bl e Property ,and his reques tc,_1 a Lull to finance the
LI igible Impruvoillclits, villich de, er-111i Iw (Jolls tll,� ( ity akjr-uus to Illake
making ofL
199. upor. suLmission of vaCh LO.,-iil
2L)O . 5.1.3. L;)aii. C I os i rL(js . the Associaticm cause vat.:ll 1n4,1 in accordance
201. with the Loan Closing InStructiun Checklist tiirnishcd by -Lfoo City to the
202. As,;ociation fur -;-ich Loan.
203. 5.1.4. ROCOC(Ii ll(; . I lie A', S 0 L i Li t 0 11 S I IJ I I I u!- h SC-CU I, i ty
204. Duckii:ients and take such o0ier, S ii:11 131 ;1(.tjollS Lt., tne ASSULALItioll slial 1
205. dc: Lurilli lie may be necessacY or adv i e 1 1-0111 ti,'.(! to pI 0 I-J!ct , preset ve ow
2 ', 6 . pertect any mortgage, lien, S0,111"ity di,:t2j, SeLla-it.y Wterust or encumijrarce
cl j n 1 ..1 v j r of the C i ty to secure i I cl,i n %-.-I i i, I i L 1,,, L :1 ty hay, requ i red to be
2 Ol-3) . executed ur delivered pursuant to its Loin Closing instruction Checklist
J9. Im. such Loan.
21(), 5.1.5. Retention. Thu As-,L)Lidti011 'Shali 1-Ctlil, 011 DOCLIIIIeIlts
21
1 0-4id"nCing, SOCUll-ing or pertainihj to a [ (;,Ill ill it" and coiitrol
83 .. 638,
r
Ili
2P. w it such Loan is paid in full.
213. 5.1.6, Pa;lnlents. The As SUS;.cation `,h.',11 1 (uivy' all pdyments of (,rincipol
214. and interest on each Department loan and sh:l l ac! os i t Lh , <amu in thy: RF
215, Account M"nthly.
21:. 5.1.7. Administrative Act ip"j. Hpon t.h- wr•i tt.rn di, action of the City,
217. the Association will take such M ions as the r_ i ty n j request, from tims to
218.
time to accelerate, collect,
audit., liquidate,
rrWnd, or foryive
a Dupart.mcnt
219.
Loan, or any portion thereof.
M.
5.1.8. Rerortinj;. The
Assoc idtion shill
keop accu,•.rte books
and
221.
records of disbursements and
paywynn and, un a
w lOhly nasis, communcQj
222.
with the end of the calendar
month in which the
v ir•st Disbursement
Date
2?3. falls, the Association shall del ive► to the City the reports set forth on the
224. Reports Schedule.
22).
5.1.9.
Miscellaneous. The Association shall
take such uther actions
226,
with respect
to the Loans as would be ordinary or
hecessary in the
227.
.application,
documentation, closing, collection and
liquidation of any loan
228.
made directly
by the Association under the same or
similar circumstances,
229.
and shall retain
from taking any action that would
impair the City's
230. positiun with respect to and Loan.
23i. 5.1.10. Anent as- At torso,_- i_n.-Fact. In order to fac i 1 i to to the
232. emerc i se by the Association of its duties herou"doc, the City hereby
233. aploints the Association as its agent, until this, Acrpeow..nt is tevminated,
234. to do, take and perform each and every ar t and thing whatsoever requisite,
235. proper or neceLsary to be done in the exercise of a►,y of the rights and
236, . powers herein granted as fully to all intents and purpuses as the City
237. might or could do in the premises, with full power of Substitution, and
238, the City hereby ratifies and confirns all actions which the Association
239.
or
its
substitute or substitutes
might do or
cause
to be done by virtue
240.
of
this
power of attorney and the
rights and
powers
herein granted,
241. 5.1.11. Inspection. At any and all reasonable times, suhject to
242. such limitations as the Association, by law or otherwise, shall impose
243. to protect and preserve the confidentiality of its records, the City,
244. acting through its authorized agents, attorneys, empluyeon or rupresen-
24b. Wives, ooy inspect the Docum nt�.
246. 5.2. L1abilit_ies as A1cnt .
211. 5.2.1. Dec�rrc� of Carta. The Association shaI i :r•�_ iw s►►c:h ui the
- -- ---
2'l:i, rinhLS and powers vested in it by this /tywoenwnt w► Lh thenjwe dogrva of
83-638
(.ire (Ind skill as the Association lA)uld uncici or unt, in corns Won with
2 ;'! loans We directly by it with th- saie nr ;ol,rWntially similar Wributus
251. as the Loans made pursuant herptu.
W. 5.2.2. Act 1hrou2h Other;. W 11 suciaLion wiy perform its rube-,
253. but eunder by or through i is attornuyq. agents, r vc eivr r ; or er:rployees, but,
W54. in H-h event, shall be dnsl':erahl" for thy' ctw'jc 1 of ',lla In dccur'dclnce with
255. the standard set furth in Section W.I.
?b6. 5,2.3. Authorized Conduct. The AssuciaKen shall be fully pretreated
&7. In acting upon any notice, request, ,. nopnt, C('rtiticaLp, order, affidavit,
S letter, t"ll"'gr3m or other paper. Wo any per` ar; i n Lad on till.' `luLl Ar i x(j
259. Por` on's Rhedulr, any act,nn talon Ly 10 Assoc iatini iiit.'..uant i.t_!'Ki in
20a, !'t'l ianCu thereupon sho ll be coocklivu and bindiri '. pun Js City.
261.
5.2.4. Permissi_._e Apts.
The
durnissive right
of
thy:. Association to
262.
do things enumerated herein shall
not he construed
as a
duty on the part
;';, ,,
of the Association with regard
thereto.
264.
5.3. Cornpengli on. The
City
shall pay to the
Association
in
265.
i:ra;gwnsation .as agent for the
Cif.v
pursuant hereto
the
lees and other
26w.
cup;pensation set forth in the
Fees
Schedule.
261. 6. TLRt1INAT10 , This Agreement shall terminate on thy: Termination Oate.
its. unless renewed for an additional twelve (12) r:ronth period in a writing
269. siyned by both the City and the Association prior thereto or unless
270. terminated earlier, as provided for hereinbelow, Eithur party may terminate
271. this Agreement prior to the Terminaticn (late upon thirty (30) days advance
272. .•mitten notice to the other party. Upon termination of this Agrr;f:aQ,t,
273. the Association shall transfer the <F Account, all Documents their
274. onst.anding and all .rooks and ru'coW pertaininq thereto, without resource,
27S. to a substitute financial institution selected by the City. Notwithstanding
276. the foregoing, in the event that, by the Initial Disbursement Date, either
277. the Reimbursement Fund has not been deposited in full into the RF Account
278. or no Loan has been nude, this agreement Pray terminate and the Association
M. may return all funds then on deposit in the Rf Account to the City.
280. 7. MISCELLANEOUS.
281. Y.1 Binding Effect. This Agrourant shall be binding upon and Were
?fit. to the benefit of the successors and assigns of the parties hereto.
283. 7.2 Governing lay. This AgreoNent, and the Kghts and duties of the
29A. parties hereunder, shall be governed by and construud in ,accordance,
83-638r
r
r
?85
wi'.h she l-t�;5 �tf
t.t ! t_F' u"
1 Inr';d'I
286.
3 Notices.
It ar:y
Imt.ico
is roquired to br: yivr.-n pursuant to this
?87.
Acrreeir,.nt., such
riot ice
si,,tll
be deemed d,21 iver•_d perscna1ly
or sent by
Ct'r'.lt 1L'd IL';I11 ,
1'et,lr'It
r'fc'eipt
►'E' j'iestc'J, postra(in prepaid, care of the
�89.
City of hliami,
De.oartwent
of
Cor.uoijIity DeveIopwont, IinusiIIq
Division,
290.
1145 N.Id. 11f.h
Strccrt.,
Piami,
Florida 33136 ol- Dade Savings
and Loan
291.
Assor- iation, 101 Fast
Fl3c3ler
Street, Miand , Florida 33131
in the case
2.92. of the Association.
293. 7.1. Exhibits. Thi, City and the Association anticipate that , from time
294. to time hereafter, one or more of the exhibits attached hereto may require
295. iior, ificatior, and, in ;uch evont, tke City and r.he P.:sociation agree that
296.
-,uc.h
i-odificatior, Wray be
vvidut,(.ed in the
form of a substitute
exhibit which,
297.
upur
initialing by duly
auti)orl.-ed persurts
representirvj the Associatit)n
298.
anti
the Cit,v, sha1 i t;c!cncu:
hart !rereof as
a substitute for this
exhibit. -.o
299. veI..,Ioce,I witho,,!t nt?L.-Islt.,y l)F Itlrtner airiundment he.rt'tr).
' 6NATOR 1 ES
Vitness 1.01ercol, ;hc Wily Of Mianli MIA D.!clC S;.►vinKs .at)d loan
A5,r;ei,it-,ilLorc(t into this Agrcurnent is of this day of
OF �l 11VIl l DADF SAVINGS AND LOAN ASSOC I AT ION
By
I resic]eilt
City Xan;.iger
fTa-f-pil Aollg�TF-0-�—,
:'i tv ('lerk
I
T�I•.PAI\'LD BY
tiiTc V ZI I Ll 11t. t ue
Assi start t:i ty At torney
AT F:ST .
APPROVF'D AS TO FORM AND (A)Rhl•.CTNFSS :
6.1/L, V rA .rGR.L.
( (,00rP,c I'. K1�x, Jr.
C•i t.V At: Ci)rncy
�
_r
c'croC;rrY
,I
,i
(Corporate SenI)
83-636
C 0
?25. with the laws of til-2 Fate Of [-lul'i;Id.
c
'_v�.
,IO�1Ce c..
.S .
tn'�
na irI, I r'tr , l r cu (.11 1.W LJ —'II ) U I "uuni. L I i .II I
i
87.
Pmreevu•nt, such
rl( tiCC
sh,el iVQ1' I 1) It 1 011,!l ly ur• seirt by
rti fi('(i ;wii l ,
► 0 11'1!
recci1)t ► eipw;ted, posta+:,' I;rel,a id, care ui the
2`)9.
city of Mia1;!i,
Depal't:1lcnt
of Cocucunity Developwriit, ilow;in(l fli'Jsiurl,
2,?O.
1145 N V. 11th
Street,
ttiami, florid-, 311",6 ()r• n,(i(' `>avi11(t3 an-f I-oa11
2i11. Association, 101 East Hagler Strect, Miami, l"lurida 33131 in the case
292. of the Association.
293. 7.4. Exhibit.,. The Cit, and the A sociatir:+r1 anticipate that , from time
294. tr) tine hereafter, one. or iI►ore of the exhibits attached heveto may require
2,+5. modificatim, -,nd, in such event, the City and the Association agree that
296. such r.odification -ray be evidenced in the form of a substitute exhibit a,hich,
197. +.Ilion i n i t i a l i n(! by duly authorized per ;uirs representing the Assoc i s t i on
298. ind the City, s1;a l l 11ocowe hart hereof as a sut :t, i t+ltn for thr' exhibit �o
299. replaced I)t C0".islty of further (i;,cndviCnt !,oreto.
St6, tt TUR.1:S
l rl Vi 11c,ss 'alit '.li , t ll!' 1, l L )' l)ii(le Savi jig,-, an(.I J,oa )
>tisoc i ur i.<)11 ;)1'I•0_' 011t OI'c.i i-r.t 0 tlii5 Agi-ccr)enl_ as Of this; � day of-
C I fY OF I i f DAI)i? S)AV I NG.`i AND i.OAN ASSOC I AT ION
By
' I`rcS i (lci1C
City :`tulirlg�r
Ati'I:SI'.
i t V UIork
1)4EPAREI) BY
Ass. istaiiL CiLy 1'�tt0r11L�Y
r r
BV
ecr't;,ry
1
,i
APPR(ATI) AS TO NRM A !j i;OPNIP.C'INESS:
4) %: r
A °fit ..-�1-\/ • f ..; : �: y
11 t,� �+ rgo I' . }.ilOX , I r . ---t-.
'a"~ Ci t V Lt.)riioy
Korporat.e Seal )
83-63&
C
r
a(j::' , I..,i,.( CA?f GORY
r'�Iti�i;h!t 1.'t:ilati � r0!1 r,11:1 1 itlu;i;•:; ! r',4.i 1 f
1 families with ;)irect grant up to 110,00tl t,+ I,,r;•r.It. ,cri:us vialatirills fir,l, Llen of
incomes below code vlolAio.,S; r� General Ir:l'•rp;i nt. 11 5 a116wed. 110 rental W. LS aSSlS
5K of rediaewith a jrant. ,,it forgist; over five year- term provided owner mainta
occupa:u y .
ll
families with
Fligible for 0. partrcnt loan or yr,}r,t; IIiyihle for Principal Roduct
i;u r.e less
fayeent on Ivaii ci,.icua of $1`.r,lIju for first unit, $5,UC0 each additio
than `5 of
unit rOiabilitat_t! to a e,:xicr,n of three unit;; f.Ifcctive interest rate
reJian.
0%; A3%iu;am trr;a of 15 yf!ars.
1II
families with
Eligible fer ftcpo-tmcnt It:;n or (,r.,nt.; (Ii)ih'c for Principal Reduet
irc07,1 55b of
Payment un lc an m;,xiWus of It1'..,CGi. fc first unit, $5,Ouu each additioi
,viian income
unit rehabilitate) to e it, axira.n of tiu,.e units; [ffcclive interest, rate
and less than
1t; "a+arum terra of l� ;cars.
6'1% cedian.
f amiiie, with
Eli.liblc ft.r `,.rL..t.t log:+ a c,r 'ot; ! li,iulc for Principal Redueti
in;ose ub4 of
P„yraer,t W, Ioa+ e ,..'ut of bl`_, t fI.. li ., t.;:ii, IS,L!u0 each L;;t:ltior
ac,:i,tr: inco:.e
unit rcf:ahiIita14.,1 t, • r:i<ia.ur. r.; ,tr:, t,r,it.; fIf�cLiv;: interest rate
ar' Icss than
:; NaxiCu� terra ui 15 �e�r;.
rf median,
1
'ilies With
Eligible frr Cr..,rt-ent Lear, ur !;r,:r,t; 4.1i•.liLie fur Principal Rer!uct1
rr.co.e 6% of
Fitment on loan 9ax1^.U-1 cf i1`r,00U fur first unit, y5,000 each addition
r.edian inecse
crrit rehabilitated to a e•rt.imuu ,f tLr•:e units; LfItct1vc interest ru
,pnd less than
of 3%; H,rxiaur. term ,,f I'; years.
95." t,f �aedian.
�1
I .tics With
Eligible for Principal Rtdutt.iun ('3y,a,•nL e;+ loan maximum of $15,000 f•
05% of
first unit, SJ.U;0 e•:clr addition:; unit rehabilitated to a maximum of thrc
ri:.7iart inenne
units; Effective interest rate of r,"; Haxiguo term of 15 years.
,r,J less than
'J5ft cf rediar,.
YI►
Fa:flies with
Eligible for Principal Reduction Payment on luan oaxitauc of $15.000 for firs
incoc:e VA of
unit, $5.0^0 eech additional unit rehabilitated to a maximum of three units
r.!:dian income
Effective intere:t rate of 5X; maxicuo tere of 15 years.
and less than
105 of cedian.
ir•ai:ies pith
Eligible far Principal Qi.ductiuu 11arment cn loan raximuzi of ,l1,,J00 fur firs
income IU5%: of
unit, $5.000 each additional unit rehabilitated to a :r3ximu& of three units
�rJi�rr incase
Effective interest rate of 6%; Maximum term of 15 years. —
:•td less tf,an
of cedian.
la
F cilics with
Eligible for Princi4:11 iceuuetiun P yxr:rtt nn n3A1;um t,f b1L,:,0u for first
income 11ut of
unit, $5,00u each aaJitiue,al unit, reha`.ilit;tteJ to a voxira;m of three units;
income
Effective intere%t rate of ir.c• ttrrx .;I Ij years.
,.nd less than '
1-.3: of :edidn.
X
(,nines .ith
fligible far Principal bcducticn Payscrtt on loan mt,.iouc of $15,000 for
ir."Ce 175z, of
first unit. $5,u:!; c.:,4t add iliuna1 unit rehabilitated to a maximum, of three
:rdian income
units; Effective iWi!-e:,t "aria of JX; hiximum term of 15 year%.
ar,',' less th;:n
of medi :r.
XI Foailids With
incvMe 13'A of
t.ccian inc me
;;r .or v.
Eligible fur Pr in; ipal ReJucti3ll Pay..tlit on Ioan max ie:um of 515,000 for
First unit, $5.UOu each additional unit rehabilitated to d aa,,iaum of three
units; Effective interest r,te of 9:'t; HaximuG term of 15 years.
83--63S
FU i. I !1 I•: 1. 1 'i 1'
)illll I iI IC III. t", OvP tt'I. it'11! t [ lllllt\' Its V t
,It" I" �•i"i'.tll':, .��;• l.tt tllt It.lri'l'1` i ii,li:;l I11\ I:'I�'tl, t)t'it•tl"ti`'.t lit (li
it 11 I'rt";1':li,., ;ill{tt 1 ltit!1'
!:0 1;1
J i < <<�.i, .. , ..., \'t1t L�.'t' •1 1 i'l'. 1(Il'iti-
f/, .-
� :1(t {) r i� �' (' ci -- y� -f�i1�- �L As ,'s'a-+ !/►-
I1;ItILt.oZIII A!-;.- int io
�I
83-63S
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• � 1 .� t � � tt !• ,\ t' I, .l ,. t'. 1. I t � �`� t tt, t I' 1 ! 1�
i
83-63S
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a 1.
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110
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83-636)
c 1- 0 s I Tj 3 1 1::: R, i f I
;_IC l, I I T
Co. I P;%C-1 OR I I ci '..N 1. 1
I.-VRTICIPANT (IF ANY):
AMCUNT REOUE-S'.1VED:
S T RATE ( I F ANY)
E'RAI. ( IF ANY)
GUAR .:;TOR (IF ANIY)
iris'rRUCTIONS:
s P -: c I I I S T R I i C T 10 N 5
83-636
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('ur,iIn i t t
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t a L ii :'Il 11 L2 p i• i
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83-63E
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•
75
CITY OF MIAMI. FLORIDA
I NIER•OFFICE''MEFIORANDUM
1 -1. 'I. ; :2
TO Howard V. Gary
City Manager
FROM, Dena Spillman, Director
Department of Community Development
DATE. June 30, 1983 FILE:
sueJECT. Community Development Lump -
Sum Deposit Request for
Proposal
REFERENCES: City Commission Agenda
Item July 18, 1983
ENCLOSURES:
It is recommended that the City Commission
approve the attached Resolution authorizing the
City Manager to advertise a Request for Proposals
for the deposit of Community Deve opmert Block Grant
Funds received pursuant to a lump -sum draw -down for
City use of allocated rehabilitation funds.
In 1981, the Commission approved a lump -sum draw -down of Community
Development funds for the Residential Rehabilitation Program.
This draw -down enabled the City to enter into a leveraging
agreement with Dade Savings and Loan Association to provide
additional funds for the rehabilitation program. This agreement
was for a two year period ending October, 1983.
74 families have been assisted through this leveraging agreement.
The City has provided $439,347 to these families. This has
leveraged an additional $385,640 from Dade Savings and Loan
Association. As the interest rate charged by Dade Savings has
dropped from 18% to the current 15.5%, the amount provided by
Dade Savings has increased.
In order for City residents to continue to receive the benefits
of such a leveraging agreement, it is necessary to advertise for
Proposals for a new agreement. This is required by City Charter
provisions covering the deposit of City funds.
The attached Request for Proposals is based on the current
program and agreement between ttie=ty and Dade Savings and Loan
Association. When proposals are received they will be evaluated
and recommendations will be forwarded to the Commission for
approval. The United States Department of Housing and Urban
Development must also concur with any agreement entered into by
the City.
The specific amount of funds that can be committed to the
lump -sum draw -down is dependent on the amount of funds -that the
Department of Housing and Urban Development will release for such
use.
83i-63&