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File #:
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18-817HA
Version:
1
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Name:
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HA Loan Modification/Conversion Criteria
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Type:
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HA- Report
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Status:
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Agenda Ready
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On agenda:
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3/26/2018
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Final action:
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Title:
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REPORT - HOUSING AUTHORITY LOAN MODIFICATION/CONVERSION CRITERIA
BACKGROUND: At its November 27, 2017 meeting, the Housing Authority requested a report from staff recommending criteria for evaluation of future loan conversion or modification requests. This item will review recommended criteria for evaluating requests from individuals and developer/nonprofit borrowers to convert or modify their existing loans to grants. Criteria currently exist for evaluation of loan modification or conversion requests from developer/nonprofit borrowers, but not for evaluation of loan modification or conversion requests from individual borrowers.
RECOMMENDATION: It is recommended by the Housing & Community Services Department that the Housing Authority, by resolution, establish guidelines for considering requests for modification or conversion of Housing Authority loans to grants on a case-by-case basis.
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