Hood Council Note: Financial Director Update

Update on Plans-need to start thinking about new set of plans now that the new deal is signed.

Local businesses and associated laws

• Establish a program for New Small Business Owners:
  Give new business owners $1000-$3000 credit towards purchase of a community lot.
  Help business owners network with other small business owners in other hoods, perhaps the resurgance of the Small Business Conference.

Implement taxes and welfare support

• Establish a program for Mortgage Loans:
  Borrower must provide at least 10% down paymentLoans must be paid off within 42 simdays (six simweeks) Payments will be daily.


• Increase rental fees:
  Increase rental fees on the Starr Grey Townhomes (two-2 unit townhomes on McIntosh) due to promixity to main strip.


• Change tax structure:
  Instead of $750/simweek per residental lot, increase it to $750/simweek per family. Removes loophole where families in multi-family housing paid less in taxes than other residents.

Manage the local real estates and architectural planning of the hood

• Decrease number of multi-family units from 10 to 4


• Build mixed income housing area:


• Renovate Pavilion


• Build Celebration Park II


• Revamp Celebration Park I


• Combine Celebration Park I and II


• Expand Modern Sculpture Park


• Renovate The Core

Searching

Well, I figure if I want to find a girlfriend I need to start looking. Mom wonders why I took out a townie and not a "nice girl from the hood", but the truth is...there's only one girl for me and our love is forbidden. O Fiona! How I wish I could change for you! Her family refuses to allow her to date a man who's not dark like her...I would be a good husband...sigh...I guess it isn't meant to be...besides...she wouldn't be able to move into the jail's apartment with me when I take over security for the hood.

Hood Council Note: Mortgages II

After much complaint, the mortgage system has been altered.

After investigating the options and noting current technology Apple Valley will use the following system for mortgages.

Residents will use the Monique Payer/Payee Bills/Book for mortgages.

Mortgages will have a daily payment and must be paid within 42 simdays.

Families must have a minimum of 10% downpayment for thier home.

Current interest rate for all loans is 5%

The total amount of the mortgage will be calculated as:
( Amount of house - downpayment ) * (1 + interest rate)
(§20,000-§2,000)*1.05=§22,500 mortgage

The daily payment is calculated as:
mortgage amount/42 (rounded to nearest §10)
§22,500/42=§540 daily payment

The mortgage amount, interest rate and number of days remaining for the mortgage will be noted in each household's "bio" screen and maintained by the Financial Director.

All families that have mortgages less than five simdays old, their mortgages will automatically be recalculated using the new system.

Families are encouraged to meet with the Financial Director at the bank in order to discuss affordability based on daily salary and current debts.