HomeMy WebLinkAboutR-1998-035 Neighborhood Development / Housing program GuidelinesRESOLUTION NO. R-98- 3
A RESOLUTION approving the City of Yakima Office of Neighborhood
Development Services Housing Program Guidelines.
WHEREAS, the City of Yakima receives Community Development Block
Grant (CDBG) and HOME funds from the U. S. Department of Housing and
Urban Development;
WHEREAS, certain homeownership programs in the City have been
developed and implemented with CBDG and HOME funds, such as the
following programs: Single Family Housing Rehabilitation; Senior and Disabled
Persons Home Repair; Home Ownership New Construction; Down Payment
Assistance; and Single Family Rehabilitation/Restoration.
WHEREAS, the attached Housing Program Guidelines were reviewed and
recommended by the Council Neighborhood Development Committee at its
meeting on February 18, 1998;
WHEREAS, the City Council believes it to be advisable for the City of
Yakima Office of Neighborhood Development Services to have Housing Program
Guidelines for the homeownerhip programs;
WHEREAS, the City Council deems it to be in the best interest of the City
of Yakima to approve the attached Housing Program Guidelines, now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City of Yakima hereby approves the attached Housing Program
Guidelines.
P'1
ADOPTED BY THE CITY COUNCIL this day of March, 1998.
ATTEST:
City Clerk
bb ONDS hh
John Puccinelli, Mayor
Highlights of Proposed Housing Program Guidelines
February 18, 1998
• Program descriptions including new Down Payment Assistance Program
• Borrower's responsibilities:
1. bring home up to code
2. Contribute 3% cash equity
3. borrow all necessary funds which together with City assistance and
equity are needed
4. maintain property to code
5. approve all payment requests, change orders, and final inspection
6. justify with tax returns, any request to extend a five year deferred loan
• City assistance:
1. $20,000 maximum ($2000 for down payment assistance)
2. 2nd lien position
3. maximum deferred loan 5 years with provision to extend if income
warrants
4. retain 10% of contractor's funds until final inspection and lien releases
5. subordinate City lien if:
a. City loan payment is current and amortizing
b. first and second lien do not exceed 80% of
appraised value
c. subordination is for one of the following
to lower interest rate of senior lien
to finance additional fixed
improvements to our security asset
to finance family educational or health
costs
6. foreclosure
7. establish and staff a Council approved Loan Committee
• Contractor's responsibility:
1. secure insurance approved by City Legal Department
2. obtain private performance bonding (i.e. no longer eligible for City
contractor bonding program) after 18 months or $100,000 of City
contracts
3. complete all work in a standard workmanship manner
• Guideline interpretations and appeal process
OFFICE OF NEIGHBORHOOD DEVELOPMENT SERVICES
Housing Program Guidelines
Throughout the country, cities are being challenged to attract reinvestment and new economic
activity to remain competitive in a rapidly changing national and international economy.
Competitiveness is critical to maintaining and growing the tax base needed to meet increasing costs
of service delivery and infrastructure maintenance.
One initiative underway in Yakima is the revitalization of east Yakima neighborhoods. Although
not a new program, recent expanded community participation through the City's neighborhood
planning process has resulted in a coordinated and multi -dimensional approach to these efforts.
Economic development loans, infrastructure improvements, expanded service delivery, and
housing programs are being funded with federal entitlement dollars from the U.S. Department of
Housing and Urban Development.
A significant commitment from these resources has been designated for homeownership programs.
Homeownership programs provide two very important benefits: 1) assist families to buy a home in
our east Yakima "Gateway Neighborhoods"; and 2) assist families currently living in these
neighborhoods to rehabilitate their homes.
Why are these efforts important? Homeownership is the backbone of a strong healthy
neighborhood, and homeownership begin a journey that can create wealth for a family as property
values appreciate. Homeownership creates a "player" out of every family owning their own home.
A player who benefits from his or her working together with neighbors to improve their
community, protect their investment and increase the value of their property. Such forces can be
very strong and can sustain revitalization efforts far beyond the limited resources available through
local, state or federal programs. It is this energy and this commitment that must be put in motion
and supported.
To encourage such private investment in the City's "Gateway Neighborhoods" the following
homeownership programs have been developed and implemented with Community Development
Block Grant (CBDG) and HOME funds from the U.S. Department of Housing and Urban
Development:
SINGLE FAMILY HOUSING REHABILITATION: Through this program the City of
Yakima provides financial assistance to residents of the City to rehabilitate their home. Assistance
is provided in the form of a loan for code required improvements to single family residential
structures located in the City's target area east of 16th Avenue. (CDBG and HOME funded)
SENIOR AND DISABLED PERSONS HOME REPAIR: This program will fund
materials and direct costs for repair to owner occupied low income elderly and/or disabled persons
in the City of Yakima. Maximum assistance under this program is $2500 or a lifetime total of
$5,000, unless approved in writing by the Manager of ONDS. Such exceptions may only be
approved if a single priority emergency repair item requires a higher dollar amount such as roof
repair. The average of all projects done during the year shall be $2500. Please note that this
program is available city-wide. (CDBG funded)
1
IIOME OWNERSHIP, NEW CONSTRUCTION: Utilizing a contractor set -a -side, this
program will assist low and moderate income families purchasing newly constructed homes
developed by contractors selected through a competitive process. A total of ten new homes will be
built in 1998 in the City's target area east of 16th Ave. (HOME funded)
DOWN PAYMENT ASSISTANCE: This program provides financial assistance of up to
$2000 for downpayment and closing costs associated with a first time home purchase in the City's
east Yakima target area. Families assisted through this program must be low and moderate income.
SINGLE FAMILY REHABILITATION/RESTORATION: This new program for 1998
has been designed to provide financial assistance to first time homebuyers who purchase and
restore vacant illegally subdivided single family homes back to their original homeownership
condition. This program is limited to properties within the City limit east of 16th Ave. (CDBG
funded)
1) Note: Federal regulations define a first-time homeowner as an individual or family who has not
owned a home in the past 3 years.
ENVIRONMENTAL REVIEW RECORD: The Office of Neighborhood Development
Services maintains a record of all environmental assessments of activities funded with CDBG and
HOME funds. This record is available for review by the public between 8:00 a.m. and 5:00 p.m.
Monday through Friday. Copies of the environmental review record will be made available upon
request at a cost of .25 cents per page.
The Environmental Review file contains:
• a listing of all activities funded by CDBG and HOME during the program year
• a determination of the degree of environmental impact, if any, of each activity
• the basis for the determination
• in the event of a negative impact, a summary of the mitigating measures
• communication with other agencies
• copies of notices and a request for release of funding for each activity
All activities are reviewed initially for impacts at the time they are selected for funding. The
Environmental Review file is updated throughout the program year as activities are implemented to
reflect any change in the determination of impacts due to changes in the location or scope of the
activity, and as activities are added or deleted.
APPLICANT ELIGIBILITY:
1. A preliminary application submission from the applicant shall include the following:
• copy of latest two years IRS tax returns
• copy of a current credit report from Yakima Credit Bureau
Please note, a first time homebuyer must contribute a minimum of 3%
7
as equity at closing.
2. ONDS eligibility
4 ti with
review of income debt ratio and credit history.
will prepare an eiigihii;ty evaluation wit�� re'1i�+ of income,
ONDS will respond to the applicant in writing within 45 days of receipt of application
indicating whether the applicant is eligible or ineligible and why. Applicants will be given an
opportunity to respond to the ONDS determination in writing within 30 days or to reapply in
the future when issues of ineligibility are resolved.
2
3. An approval letter from ONDS will request the applicant fill out a lender application form and
attach the following:
• latest two years IRS tax returns (if different from #1 above)
• signed employment verification
• signed landlord verification (for homeownership assistance only)
4. Upon receipt of the above submission, ONDS will:
a. send out employment verifications
b. send out mortgage verifications (rehabilitation assistance only)
c. update credit report (for homeownership assistance, report shall be updated to a mortgage
report)
d. order preliminary title report on property
CITY LOAN UNDERWRITING:
ONDS will provide a maximum of $20,000 ($2000 for downpayment assistance) unless conditions
warrant and City Council approves a high amount based upon special circumstances. Special
circumstances that could justify additional assistance include; 1) the project's unique positive
impact on the neighborhood, or 2) the renovation of an historic structure when at least 85% of total
project cost is being provided by other sources. The following criteria will be utilized to determine
project feasibility:
• applicant must be able, based upon income and credit, to borrow the necessary funds
which together with the city's assistance are needed for rehabilitation and/or purchase.
• applicant's housing debt ratio (principle, interest, taxes and insurance) do not exceed
30% of gross monthly income and total debt ratio (including housing) shall not exceed
40% of gross monthly income after project completion
• no personal bankruptcy within the last three years
• no unpaid judgments or liens
• no unpaid collections
• clear title to property
PROPERTY INSPECTION:
The applicant's property is inspected based upon the criteria of bringing the home up to HUD
minimum housing property standards and the Uniform Building Code. Properties listed on the
State National, or local. Register of Historic places will be rehabilitated to the State's Historic
Preservation Guidelines.
ELIGIBLE IMPROVEMENTS:
• structural repair or alterations
• roofing
• reconditioning or replacement of plumbing, heating, or electrical system
• energy conservation (windows and insulation)
• exterior painting
• accessibility for disabled persons
• asbestos and lead paint abatement
SPECIFICATIONS AND DRAWINGS:
Specifications and drawings are prepared by ONDS and agreed to by signature of the
homeowner(s), listing all required work and materials. All work performed and materials supplied
must comply with the workmanship and material standards of the trade. Any changes to the
contract must be approved in writing by the homeowner, contractor and the Office of
Neighborhood Development Services and the homeowner must sign all appropriate documents
3
including modification to contract and loan (if necessary) before work is started. Improvements
will be completed under an agreement between the homeowner and general contractor.
Homeowner's who can demonstrate their ability to do required work themselves and who are
preapproved by ONDS in writing, may perform all or part of the improvements but receive funding
for materials only. Program funds ran only he used to pay for the cost of materials, supplies and
labor supplied by persons who are unrelated and do not live on the property.
BID REQUEST:
A letter is sent to all prequalified contractors listed with the Office of Neighborhood Development
Services requesting a sealed bid on the work specifications for the home. A copy of the work
specifications must be picked up at the Office of Neighborhood Development Services.
BID AWARD:
The Office of Neighborhood Development Services recommends to the homeowner the lowest bid
within a range of 10% above or below the ONDS cost estimate on proposed work specifications.
ONDS will review the bids with the homeowner and will recommend the qualified bid. Any owner
in disagreement of the qualified bid may accept one of the other bids if they give written
justification acceptable to ONDS. If all bids are received outside the 10% above or below
requirement, the homeowner may select a submitted bid, request a negotiated bid or request a
rebid.
PRECONSTRUCTION:
A preconstruction conference is schedule between the homeowner, contractor and ONDS.
Specifications and drawings are reviewed, lead base paint, disclosures, notice to proceed and other
contract documents are signed. The contractor will be responsible for securing all necessary
building permits and performing the work specified in a standard workmanship manner within the
time lines outlined in their contract agreement. Any request for change of original work
specifications or unforeseen work must be submitted in writing as a change order listing the
changes and costs. This must be approved in writing by ONDS, contractor and homeowner. A
request for an extension of time may be submitted to ONDS in writing by the contractor if weather
or unforeseen circumstances arise. With the homeowners written approval, ONDS will notify the
contractor if an extension has been approved.
PAYMENT:
A request for disbursement of funds by the contractor will be filled out and submitted to ONDS.
ONDS will inspect the construction work completed and determine the amount authorized to be
disbursed. All draws will be approved for payment in writing by the homeowner and ONDS after
an inspection of the property. The file ledger will be reviewed to determine if the requested funds
are availahle prior to processing disbursement. The source of funds shall be designated on the pay
request.
FINAL INSPECTION:
Prior to release of final payment, the homeowner and ONDS will review the work to determine
whether all specifications and change orders have been completed. The homeowner will sign the
acceptance of improvements. The contractor will be responsible for obtaining all lien releases prior
to submitting a request for final payment. A minimum of 10% of the total contract price will be
retained by the ONDS until final inspection and submission of all lien releases.
WARRANTY:
ONDS staff will inspect completed rehabilitation work and issue the homeowner(s) warranties after
30 days. This warranty package will include the work warranty for one year, the applicable
warranty exemptions and information on how to file a warranty problem. A program survey will be
performed at the time soliciting the comments from the homeowner on 1) the contractor's work, 2)
program policy and 3) staff performance.
4
ARBITRATION
All parties to contracts funded in whole or in part by the City of Yakima's
ONDS shall agree to binding arbitration if so required by the contract. The rules shall be as
follows:
1. Agreement of parties: These rules shall apply whenever the parties have agreed to
arbitrate under them. They apply to the extent they are not inconsistent with applicable
statute nor with the agreement to the parties. The parties shall be deemed to have agreed
to these rules in the form obtained at the time arbitration commenced.
2. Initiation of expedited arbitration proceedings;. An arbitration proceeding is a part of the
dispute settlement process which is initiated by the filing of a "demand for Dispute
Settlement" with the American Arbitration Association (AAA) for administration
pursuant to these rules.
3. Appointment of arbitrator: The AAA Committee shall appoint a single arbitrator from its
panel of persons knowledgeable in home construction.
4. Oualifications of an arbitrator: No person shall serve as an arbitrator in any arbitration
in which that person has any financial or personal interest in the results of the
arbitration. Prior to accepting an appointment, the prospective arbitrator shall disclose
any circumstances likely to prevent the prompt hearing or to create a presumption of
bias. Upon receipt of such information, the AAA shall immediately replace the
arbitrator or communication the information to the parties for their comments.
5. Vacancies: The AAA is authorized to appoint another arbitrator if a vacancy occurs or if
an appointed arbitrator is unable to serve promptly.
6. Time and place of hearing: The hearing will be held at the homesite whenever possible
or in such other feasible place as the arbitrator may designate. The arbitrator shall fix
the time of the hearing, notice of which must be given to the parties at least five (5)
business days in advance.
7 . Representation: Any party may be represented at the hearing.
8. Attendance at the hearing: All persons who have direct interest in the arbitration as well
as representatives and witnesses are entitled to attend the hearings. The arbitrator shall
determine whether any other persons may attend the hearing.
9. Adjournments: Hearing shall be adjourned by the arbitrator only for good cause.
10. No stenographic record: There is no requirement that such records be taken of the
proceeding, but any party may make such a provision at their own expense. The parties
may make appropriate notes of the proceedings.
11. Proceedings: The hearing shall be conducted by the arbitrator in any manner in which
to permit full and expeditious presentation of the case by both parties. Where possible,
the parties and the arbitrator shall inspect the homesite and claimed defects. Normally
the hearings shall be completed in one day, but the arbitrator may, to obtain additional
evidence, or for other good cause, schedule an additional hearing, normally within five
(5) days.
5
_ r The
_.L'. n.7 in the absence of any
1 2. Arbitration in the absence of i pasty: The arbitration may proceed use an)
party, who, after due notice, fails to be present. An award shall not be made solely on
the default of the party, the arbitrator shall require the attending party to submit
supporting evidence.
13. Evidence: The arbitrator shall be the sole judge of the relevancy and the material of the
evidence offered.
14. Evidence of filing of documents: The arbitrator may receive and consider documentary
evidence. Documents to be considered by the arbitrator may be submitted prior to the
hearing provided a copy is simultaneously transmitted to all other parties. Neither party
may submit any written documentation prepared by an conciliator assigned to the
dispute.
15. cJoseeof hearing: The arbitrator shall ask whether parties have any further proof to
1 � _ the
L,.11
offer or witnesses to be heard. Upon receiving negative replies, the arbitrator shall
declare the hearing closed.
16. Waiver of rules: Any party who proceeds with the arbitration after knowledge that any
provision or requirement of these rules has not been complied with and fails to state his
objection in writing, shall be deemed to waive his right to object.
17. Serving of notice: Any papers or processes necessary for the initiation or continuation
of an arbitration under these rules and for any action in connection with or for the entry
of judgment on an award made hereunder, may be served upon any party:
a. By mail addressed to such party or its attorney at its last known address, or
b. By personal service, or
c. As otherwise provided in these rules.
18. Time of award: The award shall be rendered promptly by the arbitrator, unless
otherwise agreed by the parties, not later than forty (40) days from the date the AAA
receives the "Demand for Dispute Settlement".
19. Nature of awards: The award shall be limited to a determination of:
a. Existence of the defect or defects claimed.
b. Nature of the repair or replacement and time in which the contractor will
perform.
20. Form of award: The award shall be in writing and shall be signed by the arbitrator.
Findings of the arbitrator shall be in summary form.
21. Delivery of award to parties: Parties shall accept as legal delivery of the award the
placing of such award or a true copy thereof in the mail by the AAA, addressed to such
party at its last known address or its attorney, or personnel service of the award, or the
filing of the award in any manner which may be prescribed by law.
22. Modification and clarification. Upon delivery of the award to the parties, either party
may, within twenty (20) days, request modification or clarification of the award.
Application for modification or clarification must be sent to the AAA for transmittal to
the arbitrator and a copy simultaneously transmitted to all other parties. The arbitrator is
not empowered to redetermine the merits of any claim already decided, but may modify
tile award if tile arbitrator finds that the award exceeds the scope of the warranty merits
coverage. Written objection to modification or clarification must be delivered to the
AAA for transmittal to the arbitrator and simultaneously sent to all parties within ten
(10) days of the application. The arbitrator shall dispose of an application for
6
modification or clarification within ten (10) days from receipt of objection or the
expiration of time to make objection, whichever is earlier.
23. Expenses: The expense of witnesses, expert witnesses or reports for either side shall
be paid for by the party producing such witnesses or reports. In the event that the
arbitrator shall require the appearance of witnesses, expert witnesses or reports, the
costs shall be borne equally by the parties.
24. Interpretation and application of rules: The arbitrator shall interpret and apply these
rules in so far as they relate to their power and duties. All other rules shall be
interpreted and applied by the AAA, as administrator.
LOAN APPROVAL
A loan committee and loan committee process approved by City Council, will be utilized to review
City assisted rehabilitation and first time homeownership projects. The committee, made up of five
representatives from local lending institutions, will review each loan package and make a written
recommendation to the City Manager to approve or not approve. A loan package will include the
City's subsidy analysis reflecting the first lien loan, applicant's equity participation and the City's
subsidy participation.
BANK FINANCING:
A loan package will be submitted to a local lender. It will consist of a subsidy analysis, application,
2 years IRS tax returns and W -2's, mortgage verification (rehabilitation assistance only), credit
report, preliminary title (rehabilitation assistance only) and employment verifications.
• Please note that under the Down Payment Assistance program, the applicant is responsible for
working directly with the bank of their choice.
The City of Yakima's loan will be in a second position to the private lenders financing. The private
lender's loan will be maximized to utilize the full amount of borrower's available income with the
provision that not more than 30% of the borrower's gross income be committed to housing related
expenses. The City's loan may, if circumstances require, be in the form of a 0% deferred loan, for
a term not exceeding five (5) years. At the end of the five year period, the City's loan will convert
to an amortizing loan at the rate of the first lien note unless borrower can show that family income
is insufficient to support such additional housing expenses, in which case, the interest rate may be
reduced or the loan deferred for an additional five year term.
The Deed of Trust executed with the City's loan documents will include a provision for an annual
exterior inspection, and a default provision for failure to correct code violations, if any, cited by the
City's building inspector.
An Electronic Funds Transfer form with a copy of the appraisal and settlement statement attached
will be submitted to the City Manager for signature. A copy of this package will then be forwarded
to the City's Finance Department to initiate the wire transfer. The City's loan funds will be
transferred to the appropriate Title Company on the day of closing.
PURCHASE OF REPOSSESSED HOMES:
When ONDS has a home for sale due to a repossession, an applicant will be qualified following
standard procedures. At the time the applicant signs the sales and purchase agreement, they will be
required to make a non-refundable $100 deposit.
7
RECONVEYANCE:
When the City receives final payment or a full payoff of a loan, it is the City's responsibility to
provide the title company with signed reconveyance documents. ONDS will submit a request for
reconveyance to the trustee along with a copy of a reconveyance ready for signature by the trustee.
Theis than forwarderd to the appropriate tide for recording.
The reconveyance ., is th, n --- -- - - company-
—rr--r--
SUBORDINATION:
ONDS will review a request for subordination of our loan on a case by case basis but only if
payments on the City's loan are current. ONDS reserves the right to restructure the repayment of
the City's loan as a condition of subordination approval. No subordination will be allowed if the
additional funds borrowed, plus the ONDS lien, is more than 80% of current appraised value.
Subordination may be approved if it can be satisfactorily shown that the purpose of the refinancing
is one of the following:
1) to lower the interest rate of a senior lien.
2) finance additional fixed improvements to the home which secures the City's debt, or
3) finance family educational or health needs
The City will not subordinate if the first lien is being increased for non -housing related expenses,
unless the City's loan is restructured to current market rates.
FORE i OcttRE:
1 Y�lva.vvv�
Homeowner is notified in writing of any delinquency over 30 days. Failure to become current
within 60 days after the written notice may result in initiation of foreclosure process. However, the
City may at the City's sole discretion, enter into a repayment plan with the borrower prior to
foreclosure. The repayment plan shall bring the note current within 120 days. A loan may be
restructured to lower monthly payments if satisfactory evidence of reduced family income is
provide, verified, and approved by the loan committee.
RELOCATION ASSISTANCE:
All families receiving housing assistance, lawfully occupying a property, who are required to move
as a direct result of the rehabilitation of their property shall be offered reimbursement for authorized
reasonable out-of-pocket expenses incurred in connection with the temporary relocation.
Authorized expenses to include:
1. Monthly Rental:
Up to a maximum of the listed "Fair Market Rent" for the necessary bedroom sized unit to
accommodate the family or reasonable charges of a storage unit, not previously leased or
owned by the family, to store their personal belongings and/or furniture. It shall be the
applicant's responsibility to locate and secure their temporary housing upon receipt of
written authorization from ONDS.
2. Security/Damage Deposits:
Refundable deposits for rental or storage unit, gas or electric utilities, truck or trailer rental,
necessary equipment for moving.
3. Moving Expenses:
Reasonable charges for rental of necessary moving equipment such as a truck, trailer or
appliance doily, fuel and non family labor charges.
All relocation expenses must be pre- approved in writing by ONDS before the expense is incurred.
Reimbursement of expenses shall be based upon reasonable charges verified by not less than three
written quotes and a legitimate receipt.
8
Examples of expenses not covered by relocation assistance:
No reimbursement shall be paid for the damage or loss of any personal or rental property,
injury, monthly utilities for either existing home or rental, meals or groceries, connection or
transfer fees of telephone, cable TV or other accessory use.
CONTRACTOR QUALIFICATION PROCESS:
All contractors working on single family rehabilitation projects assisted through the Office of
Neighborhood Development Services (ONDS) will be processed for pre -qualification as follows:
Copies of the following must be submitted. These papers will be maintained in the ONDS
contractor's file and monitored on an annual basis.
1. A contractor's license issued by the State of Washington,
2. Evidence of liability and other insurance as required and in a form prescribed by the
City's Legal Department,
3. A City of Yakima business license,
4. A federal identification number,
5. Minority status disclosure.
The contractor will furnish ONDS a minimum of three references of past work related to
remodeling of existing homes and small new construction additions. These references will be
verified by ONDS Staff for workmanship and code compliance. The final decision will be that of
the ONDS Manager.
If accepted, a letter will be sent notifying the contractor of his or her placement on the pre -qualified
contractor's list. Bid Invitations will then be sent to the contractor. If a contractor is denied, ONDS
will send a letter explaining the reason(s) for non-acceptance. The contractor has the right to appeal
the decision if it was based on the submitted referenced work. Disqualification on the required
documentation cannot be appealed. The appeal must be made in writing within 30 days of the
notice of non-acceptance and directed to the Director of the Department of Community and
Economic Development, 129 North 2nd St.. Yakima WA, 98901.
If the contractor has been disqualified for any reason through the programs sponsored by ONDS, it
will be the responsibility of the contractor to take whatever corrective measures are needed to
remedy the disqualification.
If the contractor feels that through these corrective measures they are again qualified to work for the
program, the contractor will have to re- apply through the same procedures as a new contractor.
Reapplication cannot be submitted until after a six month time period has past since the date the
disqualification occurred.
CONTRACTOR ESCROW BONDING:
The City of Yakima, Office of Neighborhood Development Services requires Contractors who
participate in housing rehabilitation programs to provide a performance bond for contracts in excess
of $10,000. ONDS has a self -bonding program that qualified contractors may use for a limited time
in lieu of a performance bond. The intent of this program is to assist small start up contracting
firms to become established. Once a contractor is established they must purchase a performance
bond from their insurance company. Starting January 1, 1998 all existing qualified contractors or
new contractors may use ONDS self -bonding escrow program for 18 months or the first $100,000
of ONDS contracts, whichever occur first. This escrow account is used to remedy work not
performed under the original contract or the one year warranty. Policies and procedures of
self -bonding escrow:
9
1 Each contract requires a payment from the contractor prior to work start of 2% of contract
amount. ($25,000 contract @.02=$500). This is a non-refundable payment.
2. The contractor's payment is placed in the ONDS self bonding account to secure the
performance and completion of contract.
3. The housing rehabilitation contract will contain a binding arbitration clause. The American
Arbitration Association (AAA), conducts all binding arbitrations for ONDS.
4. Upon dispute, the AAA will hold hearings and make a final determination of the work
necessary to satisfactorily complete the project. If the contractor does not remedy the
findings, or if for any other reason the City is required to expend funds from the self -
bonding account to satisfactorily complete a project, the contractor will be disqualified from
future participation until the funds are repaid. If the homeowner does not honor the AAA
findings releasing the contractor, the repairs will be paid for from this account with no
penalty imposed on the contractor and the City will utilities any and all available legal
remedies to recover this expense from the homeowner.
5. Reason for using the AAA or payments from the escrow account are:
a. The contractor "walks -off the job" with no intention of returning.
b. Workmanship disputes between the contractor and homeowner.
c. Contractor removed from the job because of the quality of workmanship.
d. Warranty work not honored by contractor.
e. Material or supplier liens imposed on homeowner for lack of payment by contractor.
f. Potential liability suits filed by the homeowner in action contrary to the AAA findings
and decisions.
SENIOR AND DISABLED PERSONS HOME REPAIR PROGRAM:
The Senior and Disabled Persons Home Repair Program is designed to assist low income senior
and disable, homeowners with health and safety related home repairs.
TYPES OF ASSISTANCE AVAILABLE:
• The Regular Home Repair Program offers an average grant of $2,500 for eligible
homeowners in the City of Yakima
• The Emergency Home Repair Program is a grant that averages $500 annually. eligible
emergency repairs are as follows:
• No heat
• No electricity
• No hot water
• No sewer
• The Exterior Paint Program offers a grant to provide labor and materials to paint the
exterior of qualified applicant's homes. Due to limited funding, not all homes can be
painted. The Office of Neighborhood Development Services will deter-rnine which
homes will meet program standard for painting.
Maximum Life Program Benefits: $5,000. (Including Regular Home Repair, Emergency Repairs
and Exterior Paint.)
APPLICATION
Seniors or disabled persons in need of home repairs, contact the Office Of Neighborhood
Development Services. The property is inspected to determined if an emergency health and safety
issue exists. All other applicant's names are placed on a waiting list in the order they apply for
assistance. Applicants must be a senior, fifty-five (55) years of age or older. There is no age
10
requirement for disabled persons, although they must meet social security guidelines for a person
with disabilities and receive benefits. The application for the program is taken either in the Office of
Neighborhood Development Services, or if requested, in the applicants home by ONDS staff.
INCOME
All applicants must be low income as defined by current federal median family income guidelines.
Income must be at or below 50% of current median family income levels for the family size. Assets
cannot exceed $10,000, not including home or vehicles.
PROPERTY OWNERSHIP
All applicants must own or be purchasing their home and be located within the city limits of
Yakima. The applicant must occupy the home on a permanent year around basis. Ownership is
verified by tax notification or City computer print-out.
ELIGIBILITY VERIFICATION
No credit report is required. Staff prepares the lead based paint disclosure which is signed by the
applicant. An ONDS staff member prepares the eligibility analysis based on income and ownership
verifications.
LETTER OF ACCEPTANCE
A letter of acceptance for program participation or rejection is sent to applicant, after eligibility has
been determined. A staff member then takes pictures of the outside and/or inside of the applicant's
home.
INSPECTION
Property is inspected by ONDS staff based on priority of health and safety needs of the home.
WRITTEN SPECIFICATIONS
Proposed work plan is written by ONDS staff which lists all the required work and materials.
ONDS staff prepares the Environmental Assessment and Lead Based Paint check list based on the
property inspection findings.
OWNERS ACCEPTANCE
The work plan is reviewed with homeowner(s) for required work and materials and the
homeowner(s) approves the scope of work by signing the work plan.
COST ANALYSIS
ONDS staff prepare a cost analysis of materials for the repairs to the home based on the available
funds for the program.
BIDS
ONDS staff requests three sub -contractor's bids for electrical, plumbing, roofing, weatherization
and painting as needed. Bids are compiled and awarded to an approved sub- contractor(s) with a
qualified bid.
WORK SCHEDULE
All work is completed under the supervision of ONDS staff. ONDS staff will evaluate the
subcontract work force and prepare the Minority participation documentation.
FINAL INSPECTION
All work is certified through a final Inspection to assure compliance with the approved work plan.
A code compliance certification form is prepare by staff certifying that the home meets Section 8
Standards.
11
WARRANTY
asked and complete the program evahuatinn during the ONDS
Homeowners are to sign a warranty (hiring
final inspection after the work has been completed.
The Office of Neighborhood Development Services reserves the right to interpret any and all of the
above guidelines. All interpretations may be appealed in writing within 30 days of issuance by
sending a letter to the Director of the Department of Community and Economic Development at 129
No. 2nd Street, Yakima, WA 98901. These guidelines may be amended from time to time as
circumstances dictate.
Amended On:
12
MEMORANDUM
October 22, 1997
To: Lyjm Buchanan, Mayor and City Council Members
From: Otilliam Cook, ONDS Manager
Subject: City's Loan Portfolio: October 28, 1997, Continuation
of presentation from September 16, 1997.
Attached are the recommended improvements to the Residential Loan Program and the
packet of information discussed, in part, with Council on September 16, 1997. At the
City Council study session at 7:30 a.m. Tuesday, October 28, 1997, this presentation
will be continued.
At the September 16th meeting there were several questions raised concerning
information included in the backup packet. The following has been prepared in
response to those questions:
1. Question: Compare Yakima's Medium Family Income with National Medium
Family Income.
FAMILY OF:
4
5
YAKIN1A 1.
28.100
31.600
35,100
37,900
40,700
U.S. 2.
41,956
54,335
56,748
52,279
45,298
1. Source:
2. Source:
U.S. Dept of Housing and Urban Development
March 197 Current Population Survey, U.S. Census Bureau
2. Question: Was the owner -occupied property at 206 S. 60th Avenue that was
rehabilitated in October of 1985, in the City limits at the time of rehabilitation?
Answer: Yes, that area was annexed on July 6, 1975 (Annexation ordinance 1800)
3. Question: On the property located at 802 N. Naches Avenue, was the 405 E "H"
Street, and loan amount accurate?
Answer: Yes, this parcel includes a Single Family home and a duplex. A total o ,
three units have been rehabilitated using the HOME Single Family Program. All
three units are occupied by one extended family. The parents live in the single
family home and their two daughters live in the duplex with their families. The
total funding provided by the City was $208,915 made up of a $115,511, 3% loan
and a $93,404 deferred loan. The $208,915 total funding includes refinancing the
families original mortgage of $40,000, which helped make the entire project
affordable. The per unit cost of this project was $69,638.
4. Question: On the property located at 315 N. 9th Street, is the loan amount
accurate?
Answer: Yes, this project which involves $211,990 of City financing includes a
residence for the owner and a state licensed elder care facility for six clients.
5. Question: Please clarify the ramifications and legal implications of the Housing
Trust Fund on selling the portfolio and investing.
Answer: The sale of the portfolio and the creation of a Housing Trust Fund are
two separate issues. The sale of the housing portfolio is currently being evaluated
with the intent of bringing Council a recommendation after January 1, 199F
Should Council decide to sell the portfolio and wish to invest the proceeds of the
sale in future affordable housing programs, the creation of a Housing Trust Fund
would be one of several options that will be presented for Council's consideration.
Recommended Improvements to Residential Loan Program
Objective: Maximize leveraging of private dollars and repayment of City funds.
• All non amortizing loans (deferred) to be reviewed every five years
Defe'Ted loans to include a provision that as family incomes rise and housing
expenses fall below 30% of gross family income, the City's loan will convert to
an amortizing loan within the limits of family affordability
• Establish a cap on the maximum Cisubs subsidyassistance
from the current $r 50,000 to a maximum
ect
Reduce the average per unity
$20,000.
• Limit assistance to gap funding:
Underwriting should be based on maximizing private borrowing.
• Review options to improve management of loan portfolio.
a. Sell portfolio and invest funds in a housing Trust Fund
b. Commit additional resources to manager existing portfolio
• Create loan committee to review staff underwriting recommendations (see attachment
D-2)
Objective: Implement support programs and contractual obligations to ensure that
properties assisted remain a positive incentive for additional private
in. estment.
• Homeo\\ nership training as a pre -requisite for program participation
• Annual exterior inspection of property to insure compliance with City Codes
• Enforce city loan.default language for non-compliance with City Codes
• Formalize delegation of signature authority to the City Manager for loan documents,
Deeds of Trust, and other transactional documents
ObjectiN e: Focus efforts on properties which will result in the most positive impact on
our target neighborhoods.
• Strategically select land for new residential development and homes for acquisition and
resale. utilize the following criteria.
a. Focus on gateways to the community
b. Concentrate activities for maximum impact
c. Coordinate wort: with Code enforcement to remove major eyesores
Additional items for future discussions:
* Construction of new housing vs. rehabilitation of existing homes
* Five year commitment to a balanced neighborhood improvement strategy with
quarterly performance and financial reports to Council and community
• Development of long term investment strategies to create revolving funds for future
activities
PACKAGE T_QLOAN COMMITTEE
Application
Credit Report
2 years IRS
Employment Verifications
Mortgage Verification or Landlord Report
Preliminary Title Report
Work Write-up and Bids
Appraisal
Subsidy Analysis
APPROVAL CRITERIA
Complete Application
Eligibility
Project scope and feasibility
Underwriting
MEMORANDUM
September 11, 1997
To: Lynn Buchanan, Mayor, City Council Members, and
Richard A. Zais Jr. , City Manager
From: illiam Cook, ONDS Manager
Subject: City's loan portfolio
On July 15, 1997, the attached analysis report,
of thetCity's loan opasedf that staff distributedortfolio was hedule atpr serration to
o Council. In
the transmittal letter accompanying the p , was
Council on the subject within the next sixty (60) days. The presentation has been 1►scheduled for
the Council study session at 7:311 a.m. on Tuesday September 16,
meeting is to review the current status of the City's housing loan portfolio and to discuss with
Council and receive direction on proposed improvement to the City's loan programs.
To assist the Council in preparing for Tuesday's discussion, the following information is being
provided as an attachment to this memo:
• trend analysis of the City's Single Family and Multifamily loan portfolios including average
loan per unit and percent of loans deferred (1991-1997)
• current status of loan delinquencies for both Single Family and Multifamily loan portfolios,
and
•
• list of proposed changes to the City's residential loan programs
In discussing policy recommendations ,cfor the'�CiartY's ohjeeti housing programs,
maximizing important
ng program
such changes in the context c p Y
effectiveness.
1. maximize leveraging of private dollars and the repayment of City funds
2. implement support programs and contractual obligations to insure that properties assisted
remain a positive incentive for additional private investment, and
3. focus efforts on properties which will result in the most positive impact on our target
neighborhoods
Housing programs and housing assistance to low and moderate income families is a very important
element of a balanced neighborhood revitalization strategy. Improving the condition of the housing
stock and attracting new homeowners Stimulates additional private investment, increases pride and
community volunteerism, raises property values thereby redistributing the property tax burden
across the entire community, provides jobs for contractors and their sub -contractors, and sales for
building material supply houses thereby increasing sales tax revenue.
These henel its, liowever, ,will oily he fully realized
at 1"}��dt �.ecommetlatic ns have there is long tenn sustainable
developed community
�
support for homeownership programs.
address current concerns and to strengthen community confidence in our residential programs.
.,.,�.�.� n�v�r nPAifiNT
DEPARTMENT OF COMMUNITY AND ECONOMIC D `ILO
Offiee of Neighborhood Development Services
112 South Eighth Street
Yakima, Oi ashingtort 98901
Fax (509) e�e_�ct76
Phone (S09) 575.6101 = F -617
MEMORANDUM
JULY 15, 1997
To: Lynn Buchanan, Mayor, City Council Members,
Richard A. Zais Jr. , City Manager
From: William Cook, Neighborhood Development Services Manager
Subject: Housing Program History
City Council, the attached report reflects the program
As requested by the Yakima �ot3nc.a, .��.. ..,.a., report
of the City's housing programs over the past 16 years.
Background:
The U.S. Depaitment of Housing and Urban Development (HUD) provides
funding to communities through tie omnu j}Development�lock Grant
,
IiO ME and other federal piogram,Within 1eL,oHUD regulations, and City
policy, these funds may be used for various activities that benefit low and moderate
income families, including housing. Municipalities eetemloca Ine dsf funds
prioritiehave tes
discretion to design their housing programs
Historically, housing programs have been utilized to address one or more of the
follow ing:
* Increase homeownership rates in low income neighborhoods
Increase availability (supply) of affordable housing, both rental and
homeownership, for low and moderate income families
• Attract new private investment into neighborhoods that are experiencing
decline
• Assist elderly and low income families to maintain their property to code
* Create revolving funds from loan repayments to finance housing programs
into the future
* Increase the property tax base
Program Structure:
Depending on the goals selected, housing assistance is generally structured as 1)
an amortizing loan, 2) a deferred loan or 3) a grant. in Yakima, the City's Single -Family
Rehabilitation Program and time City
,s defRecTed loanis silnceion 1984.ogMoreram lrecently utilizedave other
a
combination of amortizing Ioans a
housing programs have been developed or amended to include amortizing loans
notably the Single -Family Rehabilitation Program which has made such Ioans since
1986.
re; :O. VI..Nr: os..'
Summary of Performance:
1980- 1997
+?! Units Avg. City S No. of Defaults % of Defaults
Program 4 3%
Single Family Rehab 136 $20,974 3 2%
Homeownership 164 24,928
Rental Rehab
372 20,498 0 0%
•
• DEFAULTS (Amortizing loans)
Program Loan Reason for
Date Default
SF Rehah 1988 bankruptcy
SF Rehah 1993 bankruptcy
SF Rehah 1994 bankruptcy
SF Rehah 1994 bankruptcy
Homesteading 1990 bankruptcy
Homeownership 1990 bankruptcy
Status
City foreclosing/owner to
remedy with cash
City foreclosed/new owner
selection underway
Lender foreclosing/City
has deferred •
City foreclosing/owner to
remedy with cash
City foreclosed/new owner
selection underway
City foreclosed/new owner
in home
1992 job loss City foreclosed/new owner
Homeownership in home
From:
Subject:
Date:
City of Fnhliva Interoffice Communication
Office of Neighborhood 1)evelojixiwxrl Services
1lousing Staff allti Related Associated Nonprofit Agencies
William Cook, Neighborhood Development Services Manger
1997/98 Federal Median Income Guidelines
July 16, 1997
guidelines issued annually United States Department of dousing and
The following income �,t[)uceasta.a e�aae�-•. F+a}••��••,r by the United
Development will be the maximum income amounts allowed for applicants in the Sing1e-
Family, Senior/Disabled, 1 I01'1; 3 ,HOME and New llomeownership programs. All applications
received after this date will be approved using the new income guidelines.
Family Size
Over $24,600 $28,100
100°0
80% $19,650 $22,450
(6%)
60%
(3%)
50:0
OWj
Eight percent of base (family of 4) added to the family of 8 income base for each additional family
size ietiuiienacnt; la—"y of 9-10, etc.
$14,760 1 $16,860
$31,600
$35,100 $37,900
$40,700
$43,500
$25,250
$28,100 $30,350 $32,550 $34,800 $37,050
$18,960
$21,100 $22,700 1 $24,400 $26,100
$27,800
$12,300
$14,050
$18,950 I $20,350
$21,750 $23,150
This guideline supercedes the memo of July 10, 1997
SINGLE FAMILY REHABILITATION LOAN HISTORY
YR ADD_iE S_____'�_ .-DAN--.-LPAN
87 30 606 S_6TH ST.
606 S. 6TH ST.
31 1802 S7TH_ST.
:802 S,7TH ST.
32 '1416 S. 12TH AVE.
11416 S. 12TH AVE.
33 '310N 6TH ST.
1 1310 N6TH ST.
i 34_1613 S. 6TH.AVE._
_1613 S_6TH AVE.
35 1216 S. 15TH AVE.._
_ _1216S 15TH AVE._
36 805 S. 13TH AVE_ _
_37 1403 JEFFERSON AVE
38 607 S. 6TH ST.
39 _519 t� 26TH AVE._
519 N. 26TH AVE.
ME_ AMT
4/2187 $6,000.00 0%
4/2/87, $5,962.00 0% DEF
4/15/87_ 1700 6%
950.
4/15/87 $7,911.00 WA DEF __
517/87 $5,250.00_ 3% =2
5/7/87, $5,225.00 0% DEF
5/11/87 $12,037.00 0% DEF
5111/87 112,050.00 6%
_5/28%87 14,560.00_ 3%
_5/28/87 $4,606.00 0% DEF _
8/24/87 ___211,850.®0
8124/871 $11,827.00
INT
yIQ
TERM ' COMMENTS 9ROGRAM
120 PD OFF
SF
DEF
108 .PD OFF
DEF:
120 WEST ONE COLL SF
SF
SF
SF
SF
6% $131.66
0%; DEF
-9118/87_/ $9,592.00 0%11 DEF
1013/87, $11,867.58 _0%' DEF
11/17/871 $12,450.00 0% DEF
12/9/87 12_0,200.00 0%1 $92.29
12/9/87 $11,340.00 0%t DEF
$160,677.58
B8 40 1222 QUEEN AVE 2126/88'
$3,865.00
1222 QUEEN AVE. 1 /26
/88_
DEF
DEF
120
96
DEF
120
PD OFF
PD IN FULL 95
SF
SF
SF
SF
WEST ONE COLL
DEF
DEF
DEF
SF
SF
SF
SF
DEF PD OFF SF
120 WEST ONE COLL ! SF
DEF
0% DEF DEF
0,864.00 6%1 $168.00 168
4_1_16 N 37TH AVE. _ 4/11/88
_42_807 S _7TH ST__ -55/24/88,
43 919 S 25TH AVE_ 717188i
919 S 25TH AVE 7f7/88
44 706 S 14TH AVE. 11/16/88
706 S. 14TH AVE. 11/16/88
$14,450.00 0%; DEF DEF
$17,850.00 0%' $74.38 240
$4,750.00 6%1 $34.031 240
$21,450.00 0%' DEF I DEF
$17,800.00 6% $185.58 102
DEF
$14,800.00 0%'
$98,829.00
DEF
89 45 303 S_ 10TH ST. i 4/21/89 $28,560.00 0%
303 S. 10TH ST. ;__4/21/89, $15,440.00 0%DEF
46 1202 BUWALDA 1 6/13/891 $46,250_00 0%' DEF
47 712 S. 8TH ST_ 1 6/28/89 $25,050.00 6%'
-A-5-41-1 5.17TH AVE. 9129/89' ;$
36'7 0%r DEF
90 116 N. 7TH ST.
1206 S. MEAD
4/28/90
'1308 PLEASANT
'1309 LANDON_
1310 JEROME
3/28/90
11401 S. 5TH AVE.
1417 ROCK AVE.
1504 S. 12TH AVE.
'1608 QUEEN AVE.
1608 QUEEN AVE.
209 S. 7TH ST.
607 N. 4TH AVE.
63 W. MEAD
SF
WEST ONE COLL i SF
SF
FORECLOSING SF
WEST ONE COLL SF
SF
WEST ONE COLL ; SF
SF
240 ISOLD/PD OFF '96 j SF
DEF I 1 SF
DEF I SF
128 ISOLD/PD OFF SF
DEF I SF
REHAB INCLUDED IN 203K PURCHASE
203K
203K
4/30/901
5/10/90
•
203K
•
203K
7/19/90.
•
5/17/901
4/12/90
4/23/90
3/1/90.
6/8/90
4/23/90
•
•
203K
203K
203K
203K
203K
•
203K
•
713 S. 4TH AVE.
1/29/90
•
203K
5/25/90
6/26/90
•
203K
203K
203K
SINGLE FAMILY REHABILITATION LOAN HISTORY
YR ___A ®
DDRES �-I_-LO
. _p
AN i
_DATE I Air
93 84 1 8TH ST. _ 4/5/93; $2_9,500.00
85 616 N. NACRES 4/6/93, $11 755.17
86 814 N. 15th AVE. _4/12/93 $24000.00
87 320 S. 9TH ST. 4/19/93 _ $8,151].00
_4 87 �J_5/7193; $46,423.00
88 1121 WIL�OW_�_
_ 89 ' 1106 N_. NACRES AVE. 5/11/93_ $10,650.00
90 311 N 9TH ST. 6/4193; $24 850.00
'91 1410 FAIRBANKS__ 1 7/8/93; $39,650.00
J992_ 411 SS4T - ST. : 8127193' $§„100.00
93 _914 E. CHESTNUT 1 1011101, $16 450,00 I
1 914 E. CHESTNUT I10/1/931
$16,450.00
$406,887.97
94 94 1904 SLIGER 3/2/94, $10,950.00
95404 15TH AVENUE , 3/16/94 $12,907.42
96 905 N 4TH AVENUE ; 3/24/94. $21,8600.38
4
- 97 1_205 S3RD A,T
SiENUES/25/94 59,560.37
98 508 S. 6TH AVENUE I 6/22/94,____$20,72117_1_91!!
99 312 N. 77H STREET 6127/94 $22,957.69'{ 0%�
100 807 S 4TH AVENUE 7/13/94 119,321.8___1_6%
3%
0%
0%
3% $54.42
00% _--DEF --
6% $239.33
0% DEF
6%
0% 137.08
DEF
$93.65
DEF
DEF
3%
A%
V0%
0%
318 YAK FED COLL
DEF
DEF
_188
335 -
-DEF
147
DEF
76
120
DEF
YFSF
YFSF
YAK FED COLL YFSF
WEST ONE DOLL FSF
YFSF
YFSF
YFSF
PD OFF 1996 YFSF
YAK FED COLL YFSF
YFSF
YAK FED COLL
YAK FED COLL YFSF
YFSF/CHIM
DEF
$76.00 179
DEF
DEF DEF
� DEJ
DEF DEF 1
DEF DEF
5164.00 179 'FORECLOSING
DEF I
DEF DEF (FORECLOSING
DEF DEF
WEST ONE COL
101_1313 MCKINLEY—7/i4/94 $23,750.00_;_0%' DEF
102 309 E. "I" ' 7/26/_94 $21,499.74
103 217 UNION 9/28/94 $26,539.19 , 0%'_
104 1410 S. 3RD AVENUE 10/7/94 $2,N3.38 0% $63.98
105 1202_ROCK _11/3/94_ 00 0 / S40 00
1202ROCK __ __ 11/3/94
106 107 S BTH STREET 11/14/94
107 909 N. 4TH STREET 12/1/94
909 N 4TH STREET 12/1/94
DEF
YFSF/CHIMI
95 108 718 N 4TH AVE. , 1/24/95
109 1508 FOLSOM 2/23/95
110 614 S. 10TH STREET
614 S. 10TH STREET
111 510 N. 7TFi STREET
• 112 1002 LANDON q/4/95
1002 LANDON z
5/_1_§/95 _
5/18/95_
r- r;/1'195
_ 5/30/95
116 402 S. --67f ST.
117 204 N. 6TH ST. ± 7/11/95
.204 N. 6TH ST. 7/11%95
118 8125. 11TH AVENUE , 7/281
11919-1319 ROOSEVELT _ • 8/11/95
120 1106 N. NACRES AVE 18/30/95
121 909 N_4TH ST.
36 _
240 ,YAK FED COLL
59,60M)._ _ � °°
$11,500.0b7 00% DEF DEF I YFSF
552,750.00 ; 0% DEF_ DELT!) OFF YF` -F---
$14,376.82 1 6% $103.00 i 24.0 IVAK F :D COLL i YFSF
- --- — YFSF
YFSFL:ity. dl4
YFSFSF/CH1MI1
YFSF/CHIM
YFSF
i YFSF
YF�'"
YFSF(
L Sr
YFSF
54,076.36 i 0% DEF DEF I
5284,677.871 i
$44,700.00 0%+ DEF DEF
$31,903.85_4 0%' DEF
$30,240.00 j 0%
$8,383.00: 0%'
$16,550.00' 0%1
$14,010.50 , 6%'.
2/24/95
2/24/95
3/28/95
1 4/4/95
113 607 W. SPRUCE
_ 114_608 N 4TH STREET
6CT N. 4TH STF,::.
115 721 S. 6TH STREET
DEF
360 (REWROTE DEF 'g6 YFSF
YFSF
YFSF
YFSF
DEF _DEF
DEF DEF
$84.00 I 360
566,289.501 0%' DEF DEF
$38,926.58 1 0%' DEF DEF
YFSF
YAK FED COLL
. YFSF
YFSF
$14,760.00 ! 0%
$1,850.55' (.
512,203.64 f 07/°
1 1250_00 0°°
514,450.00 U°/®
$14,450.00 ! 0%
$9,250.00 ; 3%
24,300.00 i 0%
95 $
.317,445,15
3F0 1PD OFF
DEF I_L• I,',.) c.;.,: ; � ,,- -
DEF ' DEF f Yf .iF
-DEr- 9 DEF ! ___=
$89.00 42 •YFSF
DEF DEF
95 x_85.00 r' 128 IIYAK FED COLL
$ DEF 1 DEF ._
$1054 ° $210.00 1 57 WEST ONE COLL
$14,376.82 6%; $103.00 {' 240 BALLOON REF'D
1 1
YFSF
YFSF
YAK FED COLL ' YFSF
Page 4 of 5
YFSF
YFSF
*Single -Family Homeownership Program Summary
11 Years (1986-1997)
The attached report reflects date of closing, loan amount, and interest rate on 164 loans to
low -moderate income residents to assist in purchasing a home. The average City loan
amount is $24,928. Loans range from 0% to 6% based on the median income guideline set
by HUD. Private lenders contributed a total of $3,772,83 since 1990.
All loans met the guideline requirements set by the program and HUD at the time of closing.
The recent defaults (3 of 164 or 2%) are loans that were written from 5 to 8 years ago.
These defaults have been a result atthe time eligibility alth problems, was determined.divorce,
The report also notes
none of which were foreseeable
that three other loans have been deeded back to our office. These were borrowers that
were going through divorce, moving out of town or looked like they were headed for default.
They quit -claimed the property to our office and we selected an applicant to put in the home
and resume payments.
The rehabs done in 1990 as part of the 203K program were not counted on the single-family
rehab list as the rehabilitation was included as part of the 203K purchase loan and are
already counted on the Homeownership report.
PROGRAM DEFINITIONS
HOMESTEADING - Homestead funds purchase FHA or VA repossessions and then we
used CDBG funds to rehab the homes.
203K - Purchase and rehabilitation loans written in partnership with Security Pacific
Bank.
YFHO - Program with Yakima Federal to purchase homes. A joint application to FHLB
provided a 20% down for applicant which Is a deferred loan in the City's name.
OPTION • Yakima Housing Authority
depleting chase the units.le family rental
stock and
ONDS offered the rentorswith an opP opportunity
•
INN HSG - ONDS worked with Silverado Construction to build some foam and steel stud
homes.
. ONDS funded home purchases and rehabilitations.
HOPE 3 -Federal source of funds. Lots were purchased and a home stat expansions. moved on for
school and hos
rehabilitation. Homes came from P
AUUtitbb
�jil+iEOYYiv��+ri EI SHIP LOAN HISTORY
_
LOAN • P.
• !
AA! ANT MO TERM COMMENTS PA M I
RA
DATE
90 38 802 N 2ND ST_ 3/29/90$15,000_
--- - —_ —" $3,447.8
39 1417 ROGrc AVt.
40_805 S. 15TH AVENUE 4/13/90
41 1201 PLEASANT
421115 JEFFERSON
_ 1115 JEFFERSON 4/20/90
504 S 12TH /23/90
4/12/90
$948.47
F .Pd oft
2 0% : DEF 1 DEF
0% 1 I 28 : ;PD OFF NOV
0% ; DEF i DEF
p0 0% DEF DE_
OG
Oct 1995 HMSTD/203
203K
95 HMSTD
HMSTD
HMSTD
3% I $185.79 ' 240 ;FORECLOSING
$36,787.56 0% i DEF DEF
4118/90 310,000.00
4/20/90 $ 12,11900
0% : DEF__, DEF
HMSTD
203K
203K
$33,500.00
43 i _ — I
44 209 S 7TH ST. AVE._ 4/23/90 _$38,131.76 0% I DEF DEF
45 -1504 S 12TH AVE 4/23/90 $36,787.56 0% DEF_ DEF_1 YFHO
46 723 N. 16TH AVE. 4/24/90_.$25,544.77 1 0%) DEF ! DEF. 1203K
47 116 N. 7TH ST. 4/28/90 $35,393.96 : 0% i DEF 1 DEF I 203K
48 1308 PLEASANT 4/30/90 $13,568:56 ' 0% _DEF DEF 203K
49 1309 LANDON 5/10/90 $91776.25 ! 0% ! DEF DEF 203K
50_1401 S. 5TH AVE. 5/17/90 $10,343.30 0% DEF DEF HO
51 09 S 11TH AVE. 5/23/90 _$26,321.59 0% ' DEF DEF
- — 52 63 WMEAD --- 5/25/90 $46,757.90 0% ' DEF DEF 203K
53 1608 QUEEN AVE. 6/8/90 $9,650.00 0% DEF DEF 203K
DEF DEF Pd ott Oct 1995 203K
203K
__ _54 808 N. 3RD ST_ 6/25/90 $17,132.00 0%
55713 S 4TH AVE. 6/26/90
56 305 N 7TH ST. 7/17/90
— 57 1310 JEROME ----771-9296--
58 913 CORNELL 8/24/90
59 601 S NACHES AVE_ 9/26/90_
_ 60 _604 S 13TH AVE _ 10/5/90_
61 1115 LANDON 10/19/90 $34,996.00
62 408 S NACHES AVE. 11/16/90 $9$7,200.00
17,200.00
$18,887.40 HO
$10,200.00
$24,633.02
$10,250.00
$31,730.00 3%
$48,892.00 3%
$225.11
$271.15
QUIT CL/NEW APP 203'
HC ,
174 WEST ONE COLL HMS•1
240 WEST ONE COLL HO
H013312
HO
91 63 1515 S 12TH AVE. 1/10/91 $13,750.00 0% DEF DEF
DEF DEF
p% DEF I DEF
66 803 S 7TH ST. _ _ 3/19/91_ $17,704.68 0°A)
67 803 S 7TH ST. 3/19/91 $28,195.32 6%
68 704 PLEASANT AVE 4/26/91 $32,850. o
69 1214 CHERRY 5/8/91 $6,884.16 0%
64 515 N 6TH ST. 1/10/91 $18,950.00 0%
65 1003 S 10TH AVE. 2/7/91 $8,143 17
HO
HO
DEF DEF W
3203.00 240 EST ONE
00 0°/ DEF DEF
DEF DEF
DEF ; DEF
DEF DEF
DEF DEP
DEF DEF
DEF DEF
DEF DEF
DEF DEF
DEF
YFHO
HMSTD
70 1311 LEDWICH 5/16/91 $8,338.63 0%
5/22/91
71 608 N 4TH ST.
72 1213 JEFFERSON : 5/23/91
73 914 S 5TH AVE. -5/29/91
- 74 1106 S 11TH AVE. 6/14/9
_ .
76 709 S. 13TH AVE._ _ 6/14/91
76 8853 S. 4tH T. 6/24/91
$7,687.61 0%
$6,601.08 0%
$5,8 /°25.54 0
1 $9,666.87 0%
$6,593.97 0%
$17,000.00 0%
1 $7,439.50 0%
320,265.00 6%
HMSTD
HO
YFHO
YFHO
YFHO
YFHO
YFHO
YFHO
77 905 S 4TH AVE. 6/24/9
78 1307 S 7TH ST_ ,_
___7/1/01
YFHO
HMSTD
YFHO
79(DLit UEEN ANN_B_LV— 7/29/91
80 1218 LEDWICH 7/30/91
__ 81_311 81 _311 OUINCE 8/8/91
_ 82 414 S 6TH ST__ 8/13/_91 $20,180.00 0% $249.90 81 WEST ONE COLL
83 710 E. WALNUT 8/13/91_ $20,180.00 3% $289.60 77 .WEST ONE COLL
— 84 1104 GARFIELD_ 8/16/91 $7,761.44 0% DEF DEF
DEF
65 •PD IN FULL 1996 OPTION
YFHO
$6,912.48 0% DEF j DEF
$8,805.38 0% DEF • DEF
$6,467.95 0% DEF DEF
YFHO
YF'
OP=.
OPTION—
YFHO
HOMEOWNERSHIP LOAN HISTORY
YA ._A_DDRESS LOAN
__ DATE
94 124 1320 SWAN _2125/!i4
1320 SWAN 2125/9
LOAN INT
$7,624.00 ; 0%
Q
MTERM COMMENTS PROGRAM
DEF DEF
5215.00 , 360
4 533,298.00 6%
125 1204 S. 2ND AVENUE 5/3/94,
1204 S. 2ND AVENUE_ 5/3/94
126 725 N 14TH AVENUE 8/10/94
_ 127 701 S 15TH AVENUE 9_/1/94
128 07 9FENT -ON T9/23/94
1_2_9_ 103 S 9TH ST_ _ 10/31/94
103 S 9TH STREET 10/31/94
130_ 1310 JEROME__ 11/28/94
131 1313 JEROME_ 12/22/94
1313 JEROME _ 12/22/94
132 4813 MADERA WAY 12/30/94
95. 133.306 N. 8TH ST._
134 412 S 6TH STREET
135 1608 QUEEN
136 805 S 16TH AVENUE
137 806 HATHAWAY
806 HATHAWAY
138 802 HATHAWAY
802 HATHAWAY
_ 139 804 HATHAWAY
804 HAT HAWAY —
808 HATHAWAY
141 713 N 15TH AVENUE_
713 N 15TH AVENUE
142 405 E. PACIFIC.. _ _ _
405E PACIFIC
143 914 S 6TH STREET_
144 1210 S 7TH STREET_
t45 711 N 15TH AVE.
711 N 15TH AVENU_E_
1.4.6.806 S NACRES AVE
__606 S NACHES AVE.
147 706 S 10TH STREET 12/14/95
140
11 6% ; S225.00 360
537,528
. HOPE 3
WEST ONE COLL HOPE 3
WEST ONE COLL ' HOPE 3
89 i 0% ; DEF I DEF -1
DEF DEF
DEF I DEF
I HOPE 3
I INN NSG
S21_1587.89
542,459.28 0% 1
537,767.580°kms
534,349.56 . 0%1 DEF
515,557.17 ; 3%:
$6,250.00 071 !
HO
DEF INN HSG__
5182.00 ' 360 :WEST ONE COLL HOPE 3
HOPE 3
DEF j DEF
521.61 ; 132
DEF ' DEF
$248.00 ' 360
5395.00 347
52,089.87 fi6% I
514,185_68. 0%
5-i_§_,_254.40 3%�
$64,972.00 6% '
$416,923.54
'WEST ONE COLL . HO _
HOPE 3
WEST ONE COLL
WEST ONE COLL
HOPE 3
HOPE 3
2/6/95 531,062.76 0% DEF
3/30/95 $1145.27 6% 5114.46
9/13/95 54,879.55 0% DEF DEF HO_
10/25/95__ 514,062.90 0% DEF DEF
2/16/95 534',601.20 6% $464.00 211 WEST ONE COLL HOPE 3
2/16/95 56,489 30 0% DEF DEF _ HOPE 3
2/17/95550,589.09 3°/0 00 94 WEST ONE COLL HOPE 3
2/17/995 56,489.30 0% DEF DEF _ HOPE 3
$31,303.16 3% 5253 00 148 WEST ONE COLL HOPE 3
56,489.30 0% DEF DEF HOPE 3
DEF
11 PD IN FULL 1996 HO
HO
HO
2/17/95
2117/95
808 HATHAWAY _/9/95
3/9/95
3/31 /95
3/31 /95
6/20/95
_6/20/95
6/20/95_
7/28/95
7/31 /95
_ 7./31/95
_ 10/27/95_
10%27%95
96 148 706 S. 10TH ST.
149 805 N. 4TH STREET
150 915 S 8TH ST.
151 1108 S 6TH STREET
_ 152 606 S. 10TH ST_ _ ___
606 S 10TTREETH S
153 1213 S. 6TH STREET_
154.1013 S 6TH STREET
155. 904
904 S. 9TH STREET
532,134.72 3°
56,489.30 0%
544,066.52 3%
510,201.27 0%
528,635.55 3%
516,101.71 0%
$46,300.00 3°!°
562,500.00 3%
510,201.27 0%
531,798.73 3%
53'i,225.00 3
59,157.00 0%
/0 5184.00 230 WEST ONE COLL HOPE 3
DEF DEF HOPE 3
5374.00 140 WEST ONE COLL HOPE 3
____DEF_ DEF HOPE 3
5198.00 180 WEST ONE COLL HOPE 3
_DEF DEF HOPE 3
$225.00 289 WEST ONE COLL HOPE 3
5275.00 337 WEST ONE COLL HOPE 3__
DEF HOPE 3
DEF
5236.00
$228.00
DEF
5312.00
526,836_00 6%
$544,758.90
12/14/9
4/5/96
4/5/96
515 164 00
524,476.00
6/14/96
6/_24/_96
6/24/96 _
7/26/96
7/31/.96
9/6/96
9/6/96
517,757.53
513,847.00
140,324.00
516,176.00
_ 534,345.00
_ _$29,787.00
$61 500.00
510,000.00
165 WEST ONE COLL
225 :WEST ONE COLL
DEF
113 • PMT START 1/96
HOPE 3
HOPE 3
HOPE 3
HOPE 3
3% 5194.00 217 WEST ONE COLL HOPE 3
0% DEF i DEF HOPE3
0% DEF DEF HOPE3
0% . DEF DEF • HOPE 3_
6% 1 5518.00 99 'WEST ONE COLL HOPE 3
0% DEF DEF HOPE3
0% DEF DEF HOPE 3
0% DEF Du_ ____ HOPE 3 _
5555.00 162 WEST ONE COLL HOPE 3
0% DEF DEF HOPE 3
5
Derim A of R.
*Rental Rehabilitation Program Summary'
14 years (1980/1904-1997)
372 Units were rehabilitated for low -moderate income tenants.
Average total rehabilitation dollars per unit - S20.498
Average City rehabilitation dollars per unit - S8,000
The Rental Rehabilitation Program ran for 14 years in partnership with eight local lenders. We determined tlx: affordable payment based on
the cash flow of the building(s). The lender wrote a 5-15 year loan at an interest rate of prime plus 1.5-2% at the determined payment. The
City loan would defer payment until the lender was paid, with an accruing interest rate of I%. After the lender loan was satisfied, the City
would receive the same monthly payment the lender was receiving. This enabled the investors payment to be at a rate where he would not have
to raise rents on the units) and displace low -moderate income residence. At the same time it gave him an avenue to provide safe. decent
housing units. The report reflects that the majority of the units were single-family homes.This program also put units that were uninhabitable
back on the market and added to our local tax base. The investors sign a covenant that was recorded with thekr deed of trust (copy attar.
TF ,ACES OF FINDS AND AMOMS EXP!.NDEQJO DATE ARE;
CDBG S1.888.383
State DCD 5805,662
HOME S15.725
Investor 5197.289•
Rebound $48.000
Lenders $1.692.449
TOTAL $4.647,508
We have had no defaults on lender or ONDS loans in this prograrn. There is currently one investor late on payments. The attached report reflects
breakdown of funding, as well as monthly payment, interest accrual. and bans which have been paid in full.
OWNER'S CERTIFICATION
OWNER : «FIRST PRIM NAME» and «FIRS SEC NAME» «LAST NAME»
DATE: «DATE»
PROPERTY TO BE REHABILITATED: «PROJECT ADDRESS»
As owner of the above property, I hereby certify that swill adhere to the
following conditions for the Rental Rehabilitation Program:
A. As a condition of participation in the Program, I shall not refuse to rent to
tenants holding Section 8 Existing 1 -lousing certificates or vouchers except for
good cause, such as tenants who previously failed to pay their rents, maintain
their dwelling units, or otherwise were in violation of the terms and
conditions of the tenancy.
B. As a condition of participation in the Program, I shall not discriminate
against a tenant eligible for or receiving assistance under hi Federal
eothen
program of assistance or against families with minor P
projects specifically designated for the elderly. This requirement shall be
binding on the property owner, heirs and assigns for a period of ten (10)
years.
C. As a condition of participation in the Program, 1 shall not convert the
rehabilitated property to condominiums within ten (10) years of completion
of the rehabilitation.
D. \Vhen l rent to tenants holding Section 8 Existing Housing certificates or
vouchers, 1 shall comply with Section 8 existing housing regulations,
including Housing Quality Standards and requirements relating to
maintenance, operation and inspection of units occupied by tenants holding
certificate or vouchers. 1 understand that failure to maintain these units in
decent, safe and sanitary condition will make me subjct toer the sancSections,
including reduction, suspension or termination of payments
8 existing housing program.
E. TheP roperty shall be rented at current market rents, defined as thehighest
rents 1 can reasonable expect to achieve for the unit in the given
tion,
time and circumstances from an unassisted tenant.
F. After accommodating existing tenants of the property to be rehabilitated as
described in paragraph (G) of this certification, 1 shall exercise affirmative
fair housing marketing of all units in the property to be rehabilitated when
RENTAL nEmApri nrwriON prioc,RmAp-osiorri.
7/16/97
-
twit
bitivi'asfttA
1 ins tin AO-
tom
. _
. _ . _
.._
-
__.__
. .
iiiii Ta-fias
Anoness
. . .
it
upaTI
-/12.000
2 •
S
-t
coOd _
FUNDS
.565.000.00
•
. _
iii.60ii.oi
_-.
MO
FUNOS
so.00
10.00
HOUSING
LOAN
sts.000.ao
.
isi.o66.00
PAW
LOAN
50 00
io.06
SO.715.00
17.760.00
120.225.00
15.006.00
9.4.090.00
- 516,9060y
55,652.00
56,054.00
102165.00
3, 'LAMM
5101,71501.00_
w4vtsTon
coNTHI9
*0 00
5000
*0 00
50 00
50.00
50.00
- 5000
Woo
SO 00
S0.00
-
10.00
-- 30.00
_ -_
. 50.01
....
70741. LOAN
MulOVNT
ses.000.00
.
iii.00iiiiii
iii.310.00
110.531.00_
S30,700.00
_ 513.743.00
17.730.00
i40.25o.00
111.952.00
120,111.00
_..
515.015.00
55.921.00
MON1NLY
PAYMENT
OATS of
CLOSING
Saw -
itS0 Pmf
is
ACCI11.1ffi
3tARTING
BALANCE
LE7C/E170
_ .
1-
215 N 710.-4 ST
613 N 3l4) ST
307-300 S 0114 Si
Ail 5 4T14 ST
61514. 15714 AVE_
SO3 3 MI/8;3*s AVE..'
1002 E CHESTNUT
OH S 3110 ST
6051,2te ST -
306 S 7TH
OD
- 12.700,00
- S2.175.00
----- S7.070.00
. 13.57/7 00
10.00
10.00
- 50 00
- - - 10 00
1000
1000
- solo
10.00
-- 10.00
_-_--
_. 33.59roo
16.560 00
- 12.760.00
1.2,475 00
' 57,070.00
13.010 00
120.204.00
15.900 00
121,00000
13.350.00
UM', -00
. _
S79.0011.00
-W.eati.oe
111.701.00
-112.11011.00
- *22.620.00
$4.200.00
.. - • • 11 1S0- 00
o---
S115.2S2.00
...am..
_ _ _i PM°
PNO
-_ P46)
_PAX/
PNO
--- PAM) -
- Iwo
$130.00_04v00/10
PAX)
- P410
..._ .
&won
61001121
PIONEER
Yv6 --
YI413
84003/21
01000/12
We - -
Wel
Romeo(
PIONEER
YVIS
PIONEER'
f 1
- 4
2
'- 1 -
' 3
- 1
23.610.00
- i21,244.03
45.010.03
121,000.00
: - 13.350.00
- - $4 - 040 00
, •
immine
Immion0
64.4094.7
01001307
84,11/13
HIOS5Ni121
_
623,300.65
i"
64/11/21
_
4 20
1
1i
1 -
i
-0
111110,704.aD
...
112,707.00
122,306.00
- 515.001.00
131.501.00
-L..: _ 52.228.00
S7 750 00
MO
- PAID -
_185105/07
PAM)---
-- PAID
Pou0.111511111211_
PAM)
PIONEER.
Yv19
PIONEIEN
PIONEER
PIONEER
YV8
.......
- ..-
.. -
-
710 E wALNUT
301-303 S 2140 ffir
610 S 0114ST
0000 S 1464::NES AV1--1
012 S 12TH AVE
609 5 11114 ST
1111141.011
$8.7154.o0
512.001 00
-122.020.00
$42011.00
- *0 ,150.00
"kW
saigrao war,
_ ...
113.522.no 10.00
12.032.00 - 10.00
141.001.00 - 10.00
1-5.5 MOD 10.00
_
36.600.00 SO 00
110.500.00 10.00
050200/
MI
- 10.00
10.00
- 10.00
. --
-- WOO
... _ - So 00
_ 10.00
05003/05
105/03615
05/11/22
..-
22
135,2S2.00
Nommolamoas•
900.753.00
-
..
Peer 1 GI 8
PENTAL RE14.AB6.ITAT1c e/ PROGRAM 4415TOR7
7116/97
-
_
"
NA4i1E
1109
_ _
- -
- _--
-
iia TOFALs
ADDRESS
1113 CHERRY
t to N ITN $T -
602 N. 7R0 St- "• '
614 1R N 11TH AVE
•
1112 JEFFERSON
•
UN4f�
e_r'._'i1,Je0.00
0 _
10
t
_ 1
_2
32
CORO
FONDS
_ 121,021 00
134.753.50
_ 11,293.00
132279 00
_ 56,761 00
A _13366.00
_ 5623.00
OCO
FUNDS
2000
s0 00
557,701 50
56,500 00
So 00
_ 17,150.00
__ 10.00
13,430 00
531.000.00
1111,141.50
NOOSING
LOAN
i31.�5000
377,021 00
502.115.00
39 793 00
132279 00
_ _ 216231.00
13, .00
` 14.253 00
146.646.00
*25s2�.90
RANK
NOAH
wait
30 00
30.00
50 00
10.00
59,440-00
_ 10.00
10.00
- woo
115.410.00
INVESTOR
CONTRIa.
59--70000
124,710 00
123.52000
s0 00
10.00
- - 0000
- 1000
-- 10.00
133,456.00
*91,403.00
TpTAI NOAH
AMOUNT
041.055.00
:51,740.00
5115.635.00
_ _ 19.793 00
332279.00
_ 325.671.00
13.36!5.00
- - 14,253.00
- 162,302.00
MpNT►I�v
PAYMENT
V'113i.o0_1641
3340.50 .
5324,00 _
_ $140.30
•
L1135.50J66i09r23'111419002/171_j_11,606.12
L-PA4)Je6/id07
`574.00
- 5190.00_
DATE OF 1
CLOSING(
Y01 J1999438/4111sS,sao.eo
1RMO•.}PJ/_Jiow/oo
66001/01
6666/19J10swt
• J1004912/01
START
NSA P*1T t
111. _
ACCRUED
STARTING
-BALANCE
`S9/.6o*.e0
529.571.99
5/•793 00
115.707.19
s17,929.12
LENDER
L __ _ ...
o .c'
or -94o -"
ONHC--
014NC_
041140
0.5. RANK
Or'01C
vim
01NC
O/�s2.6s3
1995/1001 i*9,61727L110/,75227
1101 +
09
12X
t 13,424.141L
I
40v4091/2SOTH
T51 N 14TH AYE �_0
5y10107 _
Od+011�
19RY12 0i J! 121&115
L190Yf0?JOt } 1k/10.377
54,150..95
163.95437
5/4,010,00
___-.
-1154,121.'30
_ $366,106.00
1
-_1a
527.736.00
*20.126.00
523.842.00
- *3,.104.00
523,773.00
20.00
10.00
- 10.00
+10,713.00
Woo
- 516.«91 00
510,915.30
10.00
54107.10
_ ii71,e70.70,
1000
_ 15.561 00
.-S0.00
_ - 10.00
10.00
- -10.00
10.00
15,475.00
� *0.00
so.o0
---- 20.00 "-
20.00
10 00
- 10.00
_ -
. - -_'
r .
__ _ - _-
--
-.--_-- -- -
-
- - - -
..-
- -_ -
-
"
��__
100 S 4714 ST
600 S. LTH AVE
919 S. 12TH AVE--
SO3 S. IMCFES A - 0,-._S
314 S. MACNES AVE*
9141N. 15TH AVE
404 5.0TH Sr.
6
2
• 2
3'
1
"I"' "'
IIA
5
537,400.20
-14 3.50000
--141,305 00
A354144ED F
1116,111.00
s1A,72100
"--119,4210D
---$30,550.00
.0
517,000.00
116,000.00
/EcHNICKY
510,000.00
[ 12430000
10.00
SOHO
_ 137.4602S
_ 560.50000
_ 151,355.00
SEE 1964
345,111100
541217.00
110.923.00
115.04700
' 110.560.00
_132 991.04
10.06
-- $1224446.00
25.59600
1102212/
" 57.964.00
-
365.000.00
366,507.00
_ 161.027.00
_
1605.30
_ 1300.50
1163.00 J6910Y00
- 1100.00_
M901/00 _11094/03,09!
09.03610_12004/11/011:16,361.03
60y/6
R
91/001210999406/01
60+041211901'00/01
9010/16
si,760103
2004111A71�*0.003,741_36'3,306.74-
/48
119640 1 WA
130.260.31
LS67.161.03
130.651.00
SEA 1$T _
YAK FED--
YAK FED
colic_
VYS
YYS-�-
10.00
571.275.00
110.023.00
115,047.00
- *43,597.04
1505.00_
x.00__
PASO
PAI)
.96725 i _ 150.006..25
54,,31326 - _ 145,54026
• •515,047.00
iM S. 13TH KW-
515 S.1R0 AVE --r--125.4411.04
620 N 4TH AVE -
d
YAK FED
§EA-FieST
PIQt R
PIONEER
10.00
4_
� PAb
59'06/20
-RE-wf0TE
17_30000
FROM 1966
212,446.00
_13,397 00
10 00
'_ *4,707.10
10.00
fe621625
329.339.00
_ 1+7,511.30
21022121
- 012,671.40
$160.00
f PAID
_ 1360.00_..
_ PM)
PALO
kin-
49676/30-[190M0H10
69+09/21
'
S ,103.72 __136,064.36_
_. - 70.00
1199.00
_ *10.2121
-• X!256.50
912 W. YAKMA AVF.,_4
215 N. TTN ST.
710 s. arm AYE. �-
302 S ITN St.
2
1 -
,1_
69,10/17_11164/11/10
sworn
-
1034.»
-
^113,01207
9991694
09/4027
Te9n94wwd
119
1 DLJ!
MAOflI
!-PIONEER
-
PIONEER -
fat tag,!
31
1252,411.10
110,731.40
3;`65,743.50
*11,050.00__ 2515,43620
-
RENTAL RENABILTYATION PROGRANINIST0117
7/16/97
.
NAME
1992
-
-
.OWS.
. . _
__..-...
-
lielfty-frair
Isis Milli•
.
...... _ _
--mepi.3113
ISO ttrfAit
ADDRESS
_
3/0:313 t.. ionic*4
61219. 34 Ay,. _ ..
.
ioO-Oi- a
40i-07a.lit:
ias
901E.ir7-
214-2109.44ii
§St: Fiti_ i-._
40St
•
--2
11
COOG
FUNDS
_ ..111.1133.00
120.396.00
145.440 00
S30:. 9 ...00
515.51500
1112.935.0
1i
_ 03Ok
110.07.00
SA0.00000
OCD
FUNDS
S0.00
50.00
10.00
O 00
196197.00
_. ___....SO 00
i
oi.
90.00
_.slo
-1000
so.00
S0.00.
.__. _ -
iss IRS
393.3.7.00
io.o-o•
OF T10 &
_ 10.00
- io.od
..
HOUSING
LOAN
112.933 00
S26.365 00
*45.44000
S3 0,.6-4129 .00
S15.545.00
S209.5.00
17;60.00
S10.079.00
sok000.00
54000000
s31.83400
S6.751.00
.
_ _ ...
itii.if-7.68
*000. _
__ ._
AVENUE .
*1 00.450.08
iiiiiiii.tioi
._.324,.3o1..88
329.97429
_ 118368
3.5.696.34
i60.016.47
_.... ..
3 136.857.59
RANK
LOAN
321202.00
10.00
10 00
90.00
*730.000.00
.. _30.00
00
15
000
so.00
-WAG
so.00
*0.00
.. -
... -. ..
.
Sis1.2.-broi
'Olio
. __. _ .
.382.584.60
it12.3iii .410
sio.soo.00
3.15,600.00
woo
10.00
SW.43.00
811 3.351.00
144vEs7011
coropm
10.06
30 00
3.0 00
-30..00
30.00
__ *0.00
W**
10.00
woo
1000
*0.00
30.00
--foli
•
TOTAL LOAN
AMOUNT
*34 (.00
•
_ S26.395.00
145.440.00
230..6o43o9..00
VS.545.00
3.439S32.00
tr,.00
310.079.0
S0.000.00
00000
s34.34.00
396.156.00
M04411 -&y
PAYMENT
s43s.00
S535.00
- • -
13e-60,„ii -. 00__
.
33,101.00
-_
s.o
DATE Of
CLOSING
rouse
9212/4 -
22. /1../.. 2
916
START
SG P14f
I% i
RUED
STANYING
. . BALANGE
113.4441.w
126.396.00
1.47 .1!...V) .24
S300624T9...00
517.171.3
j
LENDER
SEC PA.C:
Ol*C
-
..
P5NEE
&°WOdC-
014C
• -_
-
oF4C
e_
--
WA
worm
.. _
9215/10
3(1 17
V%
97811
12.19224
%o
S1.66
imo3.7o1229,01sng
92/v0-'91/2-
2710
215(10
almi molt
_
ihto
o--r-_-
---.
17,930.0
i11.11337
-S00.00.00
_S63.205.10
1.
62. 11
.4_-
11,03077
iii5616
S.00
30 12/10
_ 21nroi
__
ir;
-
•6
540000
s34.034.00
_96.7S16
(McNees 149600
S•l
. iid
_- _
-
i iir
-9510
03310
13,270.11
Rebound kinds)*
Awsufwed loom Wi6s-
-31-8,191.71
620 N. 4114 Ammo
_ _ _
' - - - ' - • -
3183.112114
02
112
03A3U10
_ /445.160.00
. _ snxrTors o
kid
10.00
•
9000
SEA omit
•-r-S0 -A.
_ *160.15008
310 AIR/AIWAt ____
211 S. 47N 517' ._.
WA
iii.oli
36.18
PAC
124-iiii7.0e_i_soso.00_
04424
1163.42
sews
2009/MIO_Ltri,074.29
31115.533.15
3243.00.88
.
-_,
---.
723..00
10.00
- s000
50.00
- 10.00
3 ,.,1.._..
3.723 .00
......,
14321o..e
34,51420
... 38881
800.34-
1147.11353
*251.041.05
.. .
oi-e P1-CHTaA
ST. -12I97426
610412NIsist
610012N.6114 ST
..
---tL.omp
- s036e
-0.00.34.
388.018.47
353.118.12
-- -. 10.00
50.00
moo
30.00
i34.00
*13406
Sa2347...00__
t100
)20900
] iI
4i7967-
629..1110..73
13334
10008.6*
18,31-3
1
15D1-4
6eSTF
TM
0181C
0.1C1
CENT
. _ . -
20007710
Sla&St-S30.4100T7
i10
0.34
16.81&01
1195i7/10
4m..owin)
00i19_
S60.00
---
_._ -
Pogo 5 01 6
150.000 00
140.000 00
130.000 00
120.00000
110.00000
AVARAGE
LOAN
IN DOLLARS
YEAR 1991
J
1992
1
1993 1994 1995 1996 . 1997
511 NIGLE FAM LY LOAN ACT II V TY
AVERAGE LOAN AMOUNT IN DOLLARS: 1991-97
S 100015.00
AVARAGE
LOAN
IN DOLLARS
YEAR
I I J [ I
1996 1997
1991 1992 1993 1994 1995
IMI U L T 11 FAMn Lir' (IR E NTAL) LOANS
AVERAGE LOAN AM00•'"i IN DOLLARS: 19'•j 1-97
(NOTE: NUMBER OF UNITS VARIES FROM L PROJECT TO ANOTHER)
ATT.ACHI0r A-2
100%
90%
80%
70%
60%
50%
40%
30%
207E
1070
PERCENT
HOMEOWNERSHIP
i
i
I
SINGLE FAMILY REHAB
I
I
I~•i
I •
II `... j •`
'III `• I
•
1
1 t t 1 1
YEAR 1991 1992 1993 1994 1995 1996
• 511 MGI E F A M 11 I ¥ L 0 A N A C T 11 VIITY
DEFERED LOAN DOLLARS, AS A PERCENT OF TOTAL DOLLARS; 1991-97
REPAYMENT ON SALE OR TRANSFER
J
1997
100X
90%
BOX
70X
60%
50*
40%
30%
20%
10%
PERCENT
VE AR 1991 1992 1993 1994 1995
1996 1997
M U 1 TII F A M 11 L Yr (IR IE N T A L) L_ GAIN° PORTIFOL 11 0
DEFE.:.LiD LOAN DOLLARS, AS A PEP NT OF TOTAL DOLLARS: 19' -97
LOAN DELIINOUEINCY REPORT
SINGLE FAMILY AND MULTIFAMILY PROGRAMS
ALL LOANS SUBJECT TO CURRENT AMORTIZATION SCHEDULE
f
TOTAL
LOANS
CURRENT
30-60 DAYS
DELINQUENT
60-90 DAYS
DELINQUENT
GREATER
THAN 90 DAYS
DELINQUENT
S I SIC LE
FAMILY
BUJ R T F O L 1 O
LOANS
9 9
8 3
0
1
1 5
PERCENT
1 00%
8 4%
0%
1%
15%
IULT I FAIL I LY
DORTFOLIO
LOANS
2 1
i 3
,
3
1
,. 5
PERCENT
10 0%
62%
14%
5 /0
24%
LOAN DELIINOUEINCY REPORT
SINGLE FAMILY AND MULTIFAMILY PROGRAMS
ALL LOANS SUBJECT TO CURRENT AMORTIZATION SCHEDULE
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No.: t
For Meeting of: March 3, 1998
ITEM TITLE: Housing Program Guidelines
SUBMITTED BY: Glenn Rice, Acting Director of Community and Economic Development (575-6040)
CONTACT PERSON/PHONE: William Cook, Neighborhood Development Services Manager
(575-6101)
SUMMARY EXPLANATION:
The City of Yakima, Office of Neighborhood Development Services (ONDS) is submitting Housing Program
Guidelines for City Council's review and approval. The proposed guidelines include the following:
• Program descriptions
• Borrowers' responsibilities
• City assistance
• Contractors' responsibilities -
• Guideline interpretations and appeal process
ONDS loan underwriting limits will provide a maximum of $20,000 unless conditions warrant and City
Council approves a higher amount based upon special circumstances. Maximum term for a deferred loan will
be five years with a provision for the City to extend the term for an additional five years, if the applicant's
income warrants. The new program guidelines also include a loan committee to be established by separate
Council action scheduled for early April 1998.
These guidelines were reviewed and recommended by the Council Neighborhood Development Committee at
their meeting on February 18, 1998.
Resolution X
Ordinance Contract Other Specify
Funding Source: 1998
888CCommunity Development Block Grant Funds
APPROVAL FOR SUBMITTAL:
Cty Manager
STAFF RECOMMENDATION: Approve Housing Program Guidelines Resolution
BOARD/COMMISSION RECOMMENDATION:
COUNCIL ACTION: