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Program 24.9: Provide rehabilitation funds where appropriate <br /> for apartment complexes in exchange for extended assisted-housing <br /> time periods. <br /> <br /> Responsible Agency: City Council <br /> Time Period: ~_;__:_~ ~ ~-, ._,, <br /> ~'~'~ ......s ........Ongoing <br /> Funding Source: Low-Income Housing Fee <br /> ~, and Federal and State <br /> Housing Rehabilitation <br /> Programs <br /> <br />1996 EVALUATION: Objective partially met. Continue Program. The City's Housing <br />Rehabilitation program conceptually provides an opportunity for using funds provided by the <br />City and through the Federal government for rental rehabilitation projects. This may be a useful <br />tool in encouraging extended terms among assisted-housing projects and will be implemented as <br />appropriate. <br /> <br /> Program 24.10: Issue bonds or provide other funding where <br /> appropriate to reduce apartment complex mortgage rates in <br /> exchange for extended assisted-housing time periods. <br /> <br /> Responsible Agency: City Council <br /> Time Period: r~_;__:_~ ~ ~n~ ._,, <br /> ,...q, ......~, ........Ongoing <br /> Funding Source: Low-Income Housing Fee <br /> ~ and Tax-Exempt Bonds <br /> <br />1996 EVALUATION: Objective partially met. Continue Program. Since 1991, the City has <br />participated in the refinancing of bonds for two major apartment complexes, resulting in the <br />extension of the affordability term for 116 apartments from 15 to 40 years. The City is <br />continuing to work with the owners of projects with assisted units as appropriate. <br /> <br /> 35 <br /> <br /> <br />