1. Changes to Housing Guidelines Date: September 20, 2011

2. 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.”

3. 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 Time spent by experienced consultant on site hard to gauge