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Housing Opportunity Fund advisory approves HAP as grant with 10-year deed restriction
Summary
The advisory board voted to make the Homeowner Assistance Program a grant with a 10-year deed restriction for the pilot round; the URA board is scheduled to take a final vote Feb. 13 and staff hopes to open the pilot with partner Action Housing on Feb. 14.
On Jan. 7 the Housing Opportunity Fund Advisory Board voted to make the Homeowner Assistance Program (HAP) pilot an outright grant with a 10-year deed restriction. The motion passed after discussion about administrative burden and homeowner equity; board member Alan Sisco moved the motion and Tanika Harris seconded it.
Kiana Wasler, chief housing officer of the Urban Redevelopment Authority (URA), told the advisory that the HAP guideline revisions are in a 30-day public comment period and that "the goal is for the URA board to take a final vote on the HAP guidelines at their at our February 13th board meeting, and we would like to open the HAP round, which is a…
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