Title
Consider/Discuss/Act on Second Amendment to the Loan Agreement for Project #19-09, City of McKinney Housing and Community Development Property Maintenance Program, to Extend the Term to December 31, 2021; and Increase the Maximum Reimbursement for Repairs Under the Program from $12,000 to $20,000 per Qualifying Household.
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: June 24, 2021
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
* The McKinney Community Development Corporation conducted a public hearing on the project grant application submitted by The City of McKinney, Housing and Community Development Department in the amount of $150,000 to fund home repairs and maintenance for low-income residents in McKinney. The grant request was approved at the meeting on May 23, 2019. The grant request was approved and became effective on May 23, 2019. An extension of the term to December 31, 2021, and an increase from $12,000 to $20,000 for eligible grant repairs will be considered to meet the needs of low-income residents in McKinney and allow full use of the grant.
BACKGROUND INFORMATION:
* Support for affordable housing is a strategic priority of the MCDC board of directors.
* In 2018, the city's building codes were updated and included the addition of the 2015 International Property Maintenance Code (IPMC). The IPMC regulates the minimum maintenance for existing buildings. Enforcement began March 29, 2019.
* Historically, code enforcement focused on violations around the home such as: high weeds and grass; trash/limbs debris on the property; junk vehicles, etc.
* With the addition of IPMC, enforcement will also include maintenance of the home such as: broken windows; peeling paint; dilapidated roof; failing foundations, etc.
FINANCIAL SUMMARY:
* The request was eligible for MCDC cons...
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