Belvedere Citizen / Eastside Journal, Number 32, 6 August 1980 — HOME program Local offices reaching goals [ARTICLE]

HOME program Local offices reaching goals

Three of the four local offices of the HOME program (Housing Opportunity Maintenance Effort) contributed substantially to the LA program reaching 68 percent of its goal during the. past fiscal year, according to statistics released by the community development department. The Highland Park office more than led the way, with a goal of 125 loans during the , year and an actual achievement of 219. This high production was attributed to a sizable increase in the area served during the year. The Cypress Park office had a goal of 100 loans during the year, and made 99 financial commitments by June 30, according to acting CDD director Harreld Adams. The El Sereno office had a goal of 100, and made 45 commitments. The Boyle Heights office, open only a month during the year, did not make any financial commitments by June 30. GOAL In all. the HOME program had a goal of 1275 loans for the year, and made 870, substantially better than its 52 percent of the year before, Adams said.

The HOME program was one which came under sharp criticism in a federal audit of the CDD operation. The Highland Park office has since its opening been the most successful of the now 12 HOME areas. The HOME program makes loans available at below market rates to enable residents in selected neighborhoods to upgrade their residences * and stabilize the neighborhoods. One of the aspects of the program which has been attacked was the high cost of administration, but CDD housing director Kathleen Connell said steps have been taken to remedy this, with administration costs being reduced from 41 percent of the total budget in December, 1979 to 31 percent in May of 1980, CDD will be going to the City Council to request more funds to continue the HOME program and meet the future needs of loan applicants.