Spilyay Tymoo
Paee 8
January 14,1982
Housing and Credit referendum items
V ote
F e b ru a ry 25
8:00 a. m. —8:00 p. m.
at the Community
Center
Starter home at Greeley Heights
Questions about the
Credit Dept. funds
Answer: The authority to
liquidate defaulted loans is
contained in the Tribal Credit
Answer: No, but the funds that Code. The Credit Department
we have (from the 1978 will first exhaust every effort to
referen d u m ) have b een work with the borrower in an
committed to a variety of effort to avoid liquidation of
projects, primarily homes and pleoged assets.
some business loans.
Question: Does the Credit
Office have many delinquent or
Question: How can the Credit past due loans?
Department continue to make Answer: Presently w© have
small loans if all funds are about $390,000 in past due loan
committed.
payments that represents just
under 4% of the total amount
Answer: Each month the of loans outstanding.
Department collects about
$200,000 in loan payments. Question: Why don’t people
Much of these monies are keep their payments up to date?
returned to the credit account
Answer: There are many
to be relent to customers.
reasons; some people are out of
Question: Where have the work, others over obligate
credit funds gone or how has themselves. A few people are
difficult to work with, but for
the money been used?
the most part our customers are
Answer: We have made 279 h o n e s t a n d p a y t h e ir
loans to Tribal members for the obligations well.
purpose of buying homes.
P resen tly we have over Question: How do I find out
$5,300,000 id various home about building a home?
loans. We have over $ 1,360,000 Answer: Contact the Credit
outstanding in 57 loans for Manager in the Credit Office to
b u s i n e s s a n d f a r m in g discuss the details if financing is
going to be. needed.
enterprises.
In auto, personal and all
other loans we have over Q uestion: H ow w ill the
$3,150,000. We have about additional funds be used by
Credit?
1550 loans on our books and
more than $9,890,000 in loan Answer: The monies will be
dollars outstanding. If you add used in all areas of credit, auto,
in the total committed funds on business, personal oi housing
projects in process our total to qualified borrowers.
loans outstanding will exceed
Question: What happens to
$10,250,000.
the interest income that is
Question: Can any Tribal collected on loans?
member get a loan to buy a Answer: The Credit .office pays
home?
all of its salaries and expenses
Answer. Home loans are a long from the interest earnings, the
term situation and a person amount of money left after
fin an cin g a home 'must be expenses goes back into the
settled with adequate income credit account to be loaned out
from steady employment to be to our customers.
able to pay for and maintain
the home. Not all people that Question: How much money
apply are approved because goes back to the loan account
som e do n o t m eet the to be reloaned to Tribal
qualifications. We do try to members?
assist as many people as
Answer: About $250,000 a year
possible in this area.
goes back into the loan funds
Question: Can the Tribe accounts, not including more
foreclose on my mortgage and than $2,000,000 in refinanced
repossess my home if I don’t loans.
make the payments?
Q uestion: Is the
Department Broke?
Questions about the proposed
revolving housing and subdivision
construction fund—
Question: What is the purpose
o f a $2,000,000 revolving
housing and subdivision fund?
Answer: The revolving fund
would create an on-going
program to allow money from
the sales of tribally built homes
to be re-used for new home
construction. Also, the fund
would be used to develop
subdivision homesites when
federal funds are not available
Question: Who could use such
a fund?
Answer: T ribal m em bers
interested in lower cost tribally
constructed homes in rural or
community areas could use the
fund. The cost for each home
would be less because more
than one home would be built
at a time, such as in Greeley
Heights
Question: Could the money be
used fo r m o b ile h om es
purchases?.-
'
Answer: No, individual loans
for mobile home purchases
(and individual built homes)
would still be financed through
th e C red it D e p a r tm e n t.
However, starter-homes could
be built through the revolving
fund—which would cost about
the same as mobile homes.
from fire. Mobile homes are
still the answer for some
people.
Question: Why is money
needed for development of
homesites?
Answer: The money is needed
to provide sites for tribally built
homes and individually built
homes. Any money available
from BIA of IHS would be
used to offset tribal funds.
Question: Where would the
fir s t 20 h o m e s it e s be
developed?
Answer: The proposed location
of the 20 homesites would be
near Wolf Point, east of Eagle
Butte and Simnasho— Kah-
Nee-Ta Highway (near Delbert
Frank and Mabie E yle’s
homes and Beula Switzler’s
hom es, east o f the old
McKinley ranch).
Question: How large would the
homesites be?
Answer: Each homesite would
be 2 acres or larger in size. The
sites would be served by the
new Water Supply System
from the Deschutes River
treatment plant.
Question: Why not build the
subdivision at Dry Creek or the
Agency?
Question: Why build a starter-
A nsw er: R u ra l h o u sin g
home when mobile homes are
expansion in the Dry Creek
so much faster to move into?
area cannot be developed until
Answer: The starter-home is k study is completed on sewage
aim ed at younger tribal disposal needs for that area. A
m em bers w ho w ant the few homesites are already
flexibility to expand the size of available in the Greeley
their home in the future. Also, Heights subdivision, which can
starter-homes are more easijy be expanded after the Agency’s
renovated and are usually safer sewage treatment system is
improved. Also homesites are
now available in the Simnasho
subdivision.
Question: How many people
on the Housing waiting list
would be interested in one of
the homesites?
A n s w e r : M o s t o f th e
approximately 170 people on
the waiting list would probably
be interested in a homesite.
However, many of thèse people
are unemployed and need
subsidized housing or low cost
rentals. A certain number of
people who are now in rental
housing would qualify for a
starter-home or similar cost
housing.
Question: Who would oversee
the revolving fund?
Answer: The Community
Services Manager would be
responsible for use of the fund,
although no money would be
exp en d ed w ith o u t T ribal
Council approval.
Question: What is planned for*
1982?
Answer. Proposed lor 1982 are
10 starter-homes and 20 rural
homesites.
Q u e stio n : W ill a n o th er
referendum be needed to
replenish the revolving fund?
Answer. Another referendum
will eventually be needed,
depending on how much
m o n e y is n e e d e d f o r
su b d iv isio n d ev elo p m en t.
Also, because of inflation and
the increasing cost of home
construction, fewer and fewer
homes could be built over the
years.
Credit