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RESOLUTION NO. 85-86 -86
ESTABLISHING A REVOLVING LOAN FUND
FOR HOUSING REHABILITATION
WHEREAS. the Jefferson County Board of Commissioners recognizes the need for
correcting health and sanitary deficiencies of housing for low and moderate
income families; and
WHEREAS. Jefferson County received grants from the Community Development
Block Grant Program of the Department of Housing and Urban Development in 1978
and 1980 to provide housing rehabilitation loans to low and moderate income
families in Jefferson County. Clallam County, and the Cities of Port Townsend,
Sequim, and Port Angeles; and
WHEREAS. Jefferson County has authority as lead agency under an interlocal
agreement to administer said grant monies; and
WHEREAS. the Jefferson County Planning and Building Department has submitted
an annual plan for use of said funds; and
WHEREAS. said use of funds is authorized under Sections 570.202 C(2)(i)B.
570.202 C(2)(i)C, 570.202 C(2)(i) of the Community Development Block Grant rules
of the Department of Housing and Urban Development published in the Federal
Register of August 27. 1979; and
WHEREAS. the Jefferson County Board of Commissioners approves said plan;
NOW THEREFORE. BE IT RESOLVED. that the Jefferson County Board of
Commissioners authorizes and instructs the Jefferson County Treasurer to
establish and maintain a Housing Rehabilitation Loan Fund, and to transfer from
the Housing Rehabilitation Trust Fund to the Housing Rehabilitation Loan Fund
Jefferson County's proportionate share. in the amount of $22,874. for the purpose
of granting loans and depositing loan payments.
ADOPTED this
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. 1986.
BOARD OF COMMISSIONERS OF
JEFFERSON COUNTY. WASHINGTON
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B. G. Brown. Commissioner
ATTEST:
erdine Bragg
Clerk of the Board
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ANNUAL PLAN
DESCRIPTION OF PROJECT
A. A project to encourage septic system repair to protect public health and
safety. and promote the maintenance of water quality.
B. The area to be served will be the Quilcene and Dabob Bay Watersheds.
C. The staff of Jefferson County will provide technical design assistance,
financial work-ups. and develop bid specifications. The staff will also
provide construction inspection.
D. The staff will also work with families with very low income in applying for
FmHA repair loans and grants.
Eligibility will be determined in accordance with the following guidelines:
Applicant Eligibility. One of the primary goals of this program is to
upgrade existing on-site sewage disposal systems of low income families. to
protect public health and safety, and the water quality of the project area,
To be eligible for the repair loan, family income must be in accordance with
HUD's lower income guidelines. at present set as follows:
Fami I Y Size Annual Income
1 $13 ,050
2 14,900
3 16,800
4 18,650
5 19,800
6 21,000
7 22,500
8 plus 23,300
Additionally, families contammg elderly or handicapped heads of household
will be given top priority. This preference has been established because of
the limited ability of such individuals to increase their annual incomes.
Eligibility of On-Site Systems:
Repair activities will be limited to systems that meet the following
guidelines:
1. Health and safety hazards.
2. Environmental hazards.
3. Preventive maintenance needs.
4. Work that can be accomplished within the financial scope of the program.
Form of Assistance:
Deferred payment loan. This is a low-interest loan, redeemable upon
death, transfer of title, or transfer of interest.
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Sequence anò Duration 0: AnÌ\'1UCS
]. Survey of project area O\" DousenoJd anr. pubJi<: meetings to inform
residents of progam detaiJs, (August 19SG to February 1987)
2. ColJection of appJjci1t:oJls. financial interviews, and system
inspections. (December 1986 to March 1987)
3. Selection of prioriiY projects. (March 1987)
4. Obtain bids anè award contracts. (March ]987)
5. Construction and inspection. (April ]987 to June 1987)
REP A YMENT SCHEDULES
To encourage early repayment of loans. no interest will be charged for the first
5 years, and to help maintain a future loan fund interest of 2% per annum,
compound annually will be charged thereafter.
Tvpic!!l Payment on Loan of S3,OOQ
Actual Annual
Percentaée ~ate
Year Amount Owed Cos t/~1onth % Rate If Paid At End of Year
1st $.3,000.00 $250.00 0 0
2nd 3,000.00 125.00 0 0
3rd 3,000.00 83.33 0 0
4th 3,000.00 62.50 0 0
5th 3,000.00 50.00 0 0
6th 3,060.00 42.50 2 3/8%
7th 3 , 121. 20 37.18 2 5/æ;
8th 3,183.62 33.16 2 6/8'lo
9th 3,247.30 30.06 2 7/8%
10th 3,312.24 27.60 2 1%
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