1. The applicant must have owned and occupied the 1-4 unit residential dwelling to be rehabilitated for at the least one year immediately prior to application for rehabilitation assistance and be able to show clear title to the property.
2. The applicant's household income must fall within the guidelines for eligibility according to current income limits (80% or less of median income) as published by the Department of Housing and Urban Development. In addition, the applicant's household personal assets can not exceed $25,000.
3. Except in emergency situations, applications will not be accepted from individuals who have received a prior Community Development rehabilitation loan on the same property until a period of seven years from the date of completion of work. All emergency assistance and first-time applicants will receive higher priority.
4. Loans will be recommended only for applicants who have the debt carrying capacity to repay the loan.
5. All mortgage payments, land contract payments, real estate taxes, and special assessment payments must be current.
6. When the property of the applicant is held under a land contract, the land contract must be a written, legally binding instrument which has been recorded with the Register of Deeds. The fee title holder will be required to sign all security instruments.
7. Current City of Ann Arbor or Washtenaw County employees and/or elected officials are ineligible to receive loans. Former employees are ineligible for one year after termination of employment.
8. Each case will be reviewed by staff to determine eligibility and appropriate financing with decisions made in a non-discretionary fashion.
9. The Waiver and Review Board may waive any of the above eligibility criteria in hardship cases upon petition to the board by the owner. No statutory requirements of the Department of Housing and Urban Development will be waived.
10. The Community Development Department reserves the right to cancel financial assistance at any time during the rehabilitation process.
11. In addition to the above eligibility requirements, at least one of the following criteria must be met by the applicant in order to qualify for assistance: a) Applicants must be elderly and/or; b) Applicants must have dependent minors residing in the dwelling unit to be rehabilitated, and/or; c) Applicants must be physically handicapped or disabled.
