city council september 20, 2011 nsp guideline changes
TRANSCRIPT
Changes to
Housing
Guidelines
Date: September 20, 2011
Recommended Changes
Add recapture language to protect the city
in foreclosure cases where the sale
doesn’t cover the amount owed to the city:
“In the event of a sale, short sale and/or
foreclosure, the amount recaptured will
be limited to the amount of net proceeds
available at the time of such occurrence.”
Recommended Changes
Clarify the selection criteria for general
contractors
Disallow participation by general
contractors that do not have sufficient
building experience to partner with an
experienced builder to act as a consultant
Difficult to oversee/manage
oTime spent by experienced consultant on
site hard to gauge