HomeMy WebLinkAboutIR 6951 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 6951
�,,p T In,0 July 3, 1984
1OOOP711 To the Mayor and Members of the City Council
TexPy Subject: HOME IMPROVE= LOAN PROGRAr1
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The Home Improvement Loan Program funded with Cmiqunity Development
Block Grant (CDBG) funds is designed to assist homeowners in repairing
their homes. Assistance is provided in either a grant to very
low-income households or a low interest loan with the interest rate
based on the homeowner's income. During the past CDBG program year
(June 1, 1983 - May 31, 1984) 174 homes were repaired utilizing
$1,856,498 of CDBG funds. Of this amount, $1,676,170 was used for
Categories I and II and $180,328 was provided for loans. First Texas
Savings and Loan also provided $181,799.70 for loans to make the repairs
and homeowners contributed $99,640.01 of their own resources.
HOt E IMPROVEM]T LOAN PROGRAM
The following table gives the characteristics of the 174 households
assisted describing the assistance category, age, and size of the
households.
ASSISTANCE CATEGORY
Total Category I Category II Category III Category IV
174 123 25 16 10
(70.7%) (14.4%) (9.2%) (5.7%)
AGE
Total Elderly Non-Elderly
174 92 82
(53%) (47%)
FAMILY/HOUSEHOLD SIZE FUNDS ALLOCATED
Total 174 $1,856,498
Single Female 91 (52%) 952,880 (51%)
Single Male 16 ( 9%) 172,218 ( 9%)
itao Members 44 (25%) 468,986 (25%)
Three Herters 8 ( 5%) 82,927 ( 4%)
Four Members 8 ( 5%) 94,907 ( 5%)
Five or More T9emhers 7 ( 4%) 84,580 ( 6%)
ISSUED BY THE CITY MANAGER — FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS N0.6951 - P. 2
�I�PT(AFO
oE'FRTlpp To the Mayor and Members of the City Council July 3, 1984
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X rEXP�• Subject: HOME IMPROVEMENT LOAN PROGRAM
Q T 3
The information listed above indicates that over 50% of the funds were
spent on elderly, single head-of-households. Less than 12% of the funds
were used to assist households with four or more members.
121ERG12TCY GRANTS
During the same period (June 1, 1983 - May 31, 1984), 155 households
were assisted with emergency grants for a total of $264,419. The
inforT,etion listed below shows that the characteristics of the
households receiving emergency grants are similar to the households
receiving HIL assistance. Over 50% of the heads-of-households receiving
emergency grants were elderly and more than 50% of the grants were given
to single member households.
AGE
Total Elderly Non-Elderly
155 99 56
(64%) (36%)
\ , FP21ILY/HOUSMOLD SIZE
Single Single Two Three Four Five or
Total Female Male Members Memers Merlbers More
155 81 4 30 15 8 17
(52%) (3%) (19%) (10%) (5%) (11%)
As of June 8, 1984, staff projected that $1,100,500 of HIL funds
re-.wined unspent. On the same date, there were 59 contracts approved
and signed for a total amount of $558,829. Additionally, the Housing
staff had 61 contracts either ready to be signed or waiting contract
preparation for a total of $640,439. The completion of these 120
contracts will require $1,199,268. At the same time, the HIL intake
office has, at various stages of completion, 263 applications for
assistance.
L ISSUED BY THE CITY MANAGER -- FORT WORTH, TEXAS
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INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 6951 - p. 3
To the Mayor and Members of the City Council July 3, 1984
C V S
�TEXA`�• Subject: HOME IMPROXU= LOAN PROGRAM
1073
As a result of the number of contracts and applications pending, staff
is recommending a moratorium on taking additional applications for the
HIL program. Individuals who have submitted applications will be
informed that their applications will be processed in the order of their
submission as additional funds become available. Staff further
reconBnends that as additional funds become available, they be allocated
to the HIL program.
If additional information is needed, it will be furnished upon request.
V� -IrL�
Robert L. Herchert
City Manager
RLH:kc
ISSUED BY THE CITY MANAGER — FORT WORTH, TEXAS