HomeMy WebLinkAboutRES 940111-U#
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WHEREAS, the City is administering a 1992 HOME grant from the Texas
Department of Housing and Community Affairs in the amount of $374,975, for
specific purpose of providing Deferred Payment Loans to eligible low -and
violations in their homes, and
WHEREAS, the City Council has established policies and procedures to govern
the approval of Deferred Payment Loans to eligible applicants, and is serving as
a special advisory panel known as the NEIGHBORHOOD IMPROVEMENT
COMMITTEE to guide the implementation of the program in conjunction with
City staff, and to make recommendations to the City Council in all matters
vidua kV-Iicants who
have satisfied the minimum qualifications for receiving such assistance, and
WHEREAS, the Neighborhood Improvement Committee is recommending that
the City Council approve Deferred Payment Loans to individual applicants, and
WHEREAS, it is considered necessary for the City to enter into contractual
agreements with the applicants approved to receive HOME PROGRAM Deferref
Payment Loans to assure that the needed improvements are carried out in
compliance with policies previously adopted by the City, as well as applicable
local, state, and federal laws rules and/or regulations, and
WHEREAS, the city must obligate its HOME Program Funds under contractual
agreements with applicants by January 31, 1994 and is prepared to enter into such
agreements, pending the release of such funds for obligation by the Texas
Department of Housing and Community Affairs;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations, contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
opportunities Tor an nousenolu types -, NTILLTUTT177=7707 LTe Nuoptimil TY tuls TWERTYNII'n is julvL
inconsistent or in conflict with any other Century Plan Policies, as required by Section 2.03 of
the Administration Chapter of the Policy Plan.
SECFION 2. The recommendations of the Neighborhood Improvement Committee are
hereby accepted and, pending the release of HOME Program Funds for obligation by TDHCA,
Deferred Payment Loans to individual applicants listed on Exhibit A are hereto conditionally
approved.
The Mayor is hereby authorized to enter into a written Deferred Payment Loan Agreement
with each of the applicants referenced above upon receiving notification from TDHCA that such
funds are released for obligation.
RESOLVED this day of 1994.
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CKMOMM-K-- T
City Attorney
HOME Resolution No.
Page 2 of 3 pages
10919my
By: —LEO WOOD
Mayor
1st
2nd
3rd
limit of funds
------------------
4th
5th
6th
Case # $/ Amount
48 69,154
50 25,000
49 53,456
2
25,000
19
53,456
47
25,000
13
53,456
25
53,456 TOTAL: 357,978
----------------------------------------------------------------------
6
69,154
Key- $25,000 cost of rehabilitation
$53,456 cost of 2 bed -1 bath reconstruction
$69,154 cost of 3 bed -I bath reconstruction
HOME Resolution No.
Page 3 of 3 pages