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TO: Mayor Thomas J. Weisner
FROM: Dan Barreiro, Chief Community Services Officer
DATE: January 17, 2014
SUBJECT:
A Resolution Authorizing Assistance Under the Single Family Restoration Program - a Forgivable Loan for 535 West Downer Place, (Nichole Allen, Owner), Two Units Reduced to One Unit - 4th Ward
PURPOSE:
Staff requests that property address, 535 West Downer Place, (Nichole Allen, Owner), be approved under the 2013 Single Family Restoration Program (R13-274)("Program"), using funds from account, 215-1330-463-50-13. The owners have requested a forgivable loan in the amount of $10,000 for a one unit removal. The Program provides 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 or duplex residence.
BACKGROUND:
Originally approved by the City Council as the Reconversion Incentive Program in 1994, the old program spent over $5 million reducing over 200 units primarily in older Aurora homes. The overall goal in these reconversion incentives is to reconvert homes to their original single family status, which will benefit not only the neighborhoods but also the property owners. Neighborhood Redevelopment Division staff updated the program based on the old model and like programs in other cities (e.g., Springfield) and reintroduced the new Program guidelines in September of 2013.
DISCUSSION:
The Program goal is to reconvert homes to their original status, which will benefit not only the neighborhoods but also the property owners. Applications that can show a significant impact on the neighborhood are given priority within the program.
IMPACT STATEMENT:
The Program provides an incentive to restore residential units to their original configuration, to reduce density, reduce the demand for on-street parking, eliminate blighted conditions, and to improve the quality of life in Aurora by reducing the number of multi-family rental ...
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