03/12/2002 Resolutions 2002-65
I
I
I
RES 0 L UTI 0 N 2002-65
WHEREAS, the City of Grand Island, through the Community Projects Department,
facilitates a Rehabilitation Deferred Loan Program to assist with rehabilitation of owner-occupied
housing; and
WHEREAS, the current guidelines for the Rehabilitation Deferred Loan Program
outlines that no more than $15,000 can be used for a deferred loan to repair or rehabilitate such
property to "Minimum Property Standards" in conformance with guidelines established by the
Community Development Division; and
WHEREAS, funding for the program is available through grants from the Nebraska
Department of Economic Development, Community Development Block Grant Program; and
WHEREAS, it is proposed that the guidelines be changed to increase the maximum
deferred payment loan amount from $15,000 to $20,000, with an additional $5,000 available in the
event that needed critical repairs exceed the standard amount.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the guidelines for the Rehabilitation Deferred
Loan Program be amended to increase the maximum deferred payment loan amount from $15,000 to
$20,000, with an additional $5,000 available in the event that needed critical repairs exceed the
standard amount.
Adopted by the City Council ofthe City of Grand Island, Nebraska on March 26, 2002.
QcS\.ao C(~JLmnfiv
RaNae Edwards, City Clerk
Adopted date should read March 12, 2002.
I Approved as to Form'" ~
March 8, 2002 It. City Attorney