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were to continue in the hoinestead exemption. It depends on who has the permit whether or not you get the hoineowner's exemption from tax increases. A board member inentioned abatements. Mr. Lang said it's not an abatement. Actually, he got what he believes is a homeowner's exeinption for something like 10 years from an increase in taxes. A board member said he understood it as a 10-year abatement. He had an addition put on his home and they applied for the same thing through the city. Mr. Lang said right, it's regardless of the kind of permit. Then I guess it would be an abatement. If the city provides that automatically then item number 4 on here may not apply. Unfortunately, and even if the city were in proper financial order, we are too late to apply for the 2003 calendar year. We have already missed a month and a half and enabling legislation would have to be passed. We couldn't even enter the program probably for at least another 2 months. The County Commissioners would have to approve our application, which might be another month or 2. In preparation for the calendar year 2004 or whatever budget year covers that cost, I would probably suggest that it looks as though this is something that would be desirous for the city to engage in. It didn't say on here but it was on the letter submitted to the Mayor, as of this year, it's a 3.5% loan for rehabilitation, remodeling, reconstruction, whatever you may happen to call it. The kicker in here is, and part of the reason why it would be insignificant to us is because this would be an added incentive to the homeowner to put the house back in historic condition, preserved condition, due to the age of the home. This is particularly applicable to the exterior of the home with possibly a request that they inight carry through on the interior with modern upgrades. Mrs. O'Rourke asked if this is only for private residents. Mr. Lang said it could be multi-family buildings that are owned by an absentee landlord. Mrs. O'Rourke said she is thinking of the Barton Road Church. If someone bought that, if it was to be redone, would it apply? Mr. Lang said it has to be a habitable dwelling. It is also for the building itself and he inquired as to whether it would include out buildings and the answer was yes. He added that his chicken coop would be covered as would his garage and barn. The barn is not a habitable dwelling but it is part of an historic property. That is why many moons ago he asked whether or not historic recognition is given to properties as opposed to buildings. What they would do is, they would coine out and inspect the property and each one of the adjacent structures and determine how it adds to the residence. Mrs. Lord said if you remember we did not even get a letter about this until the November or Deceinber meeting. At which time, it was too late to make any of the required moves. We didn't have enough information but even if we had, we were looking at emergency legislation. Maybe we need to put this on our agenda for August or September to find out what is going on for next year so we have tiine to pursue it. Mr. Lang said he will guess this is now a standing invitation as long as the county renews the program. He doesn't know when they would go about doing that. The person he spoke with indicated it is annually renewed by the County Coinmissioners and the Treasurer. As of this moment, Sarah Wolfe did not know if the program would continue into the year 2004. It depended upon available funds. Mrs. Davis asked who funds it. Mr. Lang said he is not sure. He indicated it is one bank that underwrites the loans. He said Ms. Wolfe informed him that as long as the project would be renewed then it would be a standing invitation to those corrununities to whom they sent invitations for the year 2003. Mrs. Lord said her point is they could not act fast enough so even if we haven't received an invitation, if we start pursuing it and know that it is coming then we could start discussion because it will take work to get that kind of expenditure put through. Mr. Dailey said the county does have another program for home improveinent loans as well. It's supposed to be 2% under prime, or 2% under whatever the going rate is, which doesn't cost us $5,000 and any home is open for it. He said he wonders if they shouldn't be promoting that more. He suggested checking with the Finance Director to see how much was done through that program last year. If we can promote the program that doesn't cost the city $5,000 and get the same perks, except without the federal government oversight regarding the Secretary of the Interior, we'd be better off. Mr. Lang pointed out it is not federal government oversight, it is local oversight by the Cleveland Restoration Society which is the funding agency or the distribution agency for the Ohio Historical Society through the grant monies that are available through the Certified Local Govermnent programs. There are a lot of different ways that we could be of benefit to the residents of the community through this particular body of the Landmarks Cominission. This particular low interest 2