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South B nd Redevelopment Commission Regular Meeting - May 2, 1980 6. NEWIBUSINESS a rs. Baumgartner: Project rebate and omesteading programs are basically the are in a very minor way. One thing we ould like to do is increase the percen- age of rebate from 40% to 500. Before ny property is offered to the public s a homestead it will be carefully nspected and evaluated by the Bureau of ousing Project Inspection Team to etermine if rehabilitation of the property s structurally and financially feasible. he cost of acauisition of the homestead roperty plus the cost of repairs ursuant to the agreement between the omesteader and the Bureau of Housing shall of exceed, after rehabilitation, the fair arket value of the property. Under no ircumstances should the acquisition cost f the property exceed $9,000.00. ursuant to the homesteading agreement he homesteader must; 1) correct all safety nd health violations prior to moving nto the homestead; 2) bring the dwelling p to program standards (including building, lumbing, electrical, and fire code tandards) ; 3) carry adequate fire and iability insurance at all times; 4) allow he Bureau of Housing to make periodic nspections at reasonable times to etermine compliance with the agreement uring the three year occupancy period. he Bureau of Housing will encourage outh Bend lending institutions to rovide conventional home improvement . Nimtz: Has the staff studied these idelines or have any comments? Ellison: Yes, and we think the osed guidelines should be approved. Baumgartner: Cash rebates for home ovements are available to homeowners, hasers under land contract, and ntee landlords residing within those .daries are acceptable. Owner- - pants shall be eligible for cash tes from 20% to 50% of the cost