TO: Mayor Thomas J. Weisner
FROM: Daniel Barriero, Chief Community Services Officer
DATE: August 27, 2013
SUBJECT: title
A Resolution Amending the Guidelines for the Single Family Residential Restoration Program (formerly known as the Reconversion Incentive Program)
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PURPOSE:
Staff requests that the attached new program specifications be approved for a new Single Family Residential Restoration Program ("Program"), using funds from account 215-1330-463-50-13 which has an existing 2013 budget allocation of $314,000. The program will replace the Reconversion Incentive Program and provide forgivable loans to homeowners to remove additional apartment units created in a structure or on a parcel where the original use was for a single-family residence.
BACKGROUND:
Originally approved by the City Council as the Reconversion Incentive Program in 1994, the Program goal is to reconvert homes to their original single family status in order to reduce density and traffic congestion in neighborhoods. The program has been dormant since 2010 due to staff reductions.
DISCUSSION:
Neighborhood Redevelopment Division staff has updated the program based on research on similar programs in other cities (e.g., Springfield) and current market conditions. New features include a lower per-unit subsidy and an emphasis on working with applicants to insure project viability, including free limited estimates, timelines, and project consulting for awarded projects if needed. In addition, moving forward staff recommends ranking projects based on a number of criteria and awarding funding through a competitive process. Staff hopes to hold a competitive round in October of this year (5 awards) and in February of 2014 (5 awards) and biannually each year thereafter that the City chooses to budget funds for the Program.
IMPACT STATEMENT:
This program was very popular in its previous format, and addressed the problem of large homes in Aurora that were cut into multif...
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