EDA Annual Report 2013-2014

Other projects Redevelopment Acquisition, Construction/Rehabilitation and Resale of single family homes – Jurupa Valley, CA – In partnership with a non-profit affordable housing developer, approximately $1,500,000 in former Redevelopment Agency for the County of Riverside housing funds were used to acquire property and construct one new single-family home and rehabilitate six single-family homes for resale to very low- income, first-time homebuyer households.

Home Ownership and Tenant Assistance Mortgage Credit Certificate (MCC)

Single Family Home Rehabilitation Home Repair Program

EDA has issued $635,000 in Mortgage Credit Certificates assisting 17 homebuyer households in reducing the amount of their federal income tax liability and increase the homebuyer’s purchasing power. First-Time Home Buyer (FTHB) Program EDA / Housing provided approximately $180,000 in HOME funds for down payment assistance to six first-time homebuyer households. Neighborhood Stabilization Program (NSP) EDA / Housing expended approximately $7 million in NSP funds for acquisition, rehabilitation and resale of 30 foreclosed homes to very low- to middle-income households. Over $1.7 million in homebuyer assistance was provided.

EDA / Housing provided approximately $55,000 in CDBG funds to assist six qualified low-income homeowners to repair or improve the quality of their homes. The funds were designed to address health and safety issues, Housing Quality Standards (HQS) and improve substandard living conditions within the scope of eligible program repairs. Senior Home Repair EDA / Housing provided approximately $72,000 in CDBG funds to assist 14 low-income senior homeowners (62 or older) or low-income handicapped persons of any age to repair or improve their homes. The repairs or enhancements addressed health and safety issues and handicapped accessibility improvements exclusively.

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