City of Racine - Meeting of Community Development Block Grant Advisory Board on 1/13/2025 at 6:00 PM

0022-25

Thu, 13 Feb 2025 20:07:14 GMT

File #: 0022-25
Ver.: A
Agenda #:
Type: Communication
Title: Subject: Communication sponsored by Mayor Mason requesting up to $373,600.00 for new construction of a single-family building on City-owned property at 1644 S Memorial Dr. Recommendation of the CDBG Advisory Board on 01-13-25: To approve the use of up to $373,600.00 in HOME funds to redevelop the property at 1644 S Memorial Drive and sell to a HOME-eligible homeowner. Fiscal Note: There are adequate HOME Funds available to cover the $373,600 cost for the new construction of the home. Any income generated from the sale of the improved property will be reinvested into the HOME Fund.
Action: Recommended For Approval
Result: Pass

0023-25

Thu, 13 Feb 2025 20:07:14 GMT

File #: 0023-25
Ver.: A
Agenda #:
Type: Communication
Title: Subject: Communication Sponsored by Mayor Mason to Recommend Approval of Revised Terms for CDBG Home Repair and Forgivable Loan at 1720 Grand Avenue Due to Added Lead Abatement. Recommendation of the CDBG Advisory Board on 01-13-25: To approve the new terms for the CDBG Home Repair Loan and Forgivable Loan for 1720 Grand Avenue as presented. Fiscal Note: $15,524 is the total project cost, $3,105 is a forgivable loan, and $12,419 is a loan at 3% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.
Action: Recommended For Approval
Result: Pass