City of Racine - File #: 0592-25

• File #: 0592-25
• Version: A
• Name: 1718 Charles St. CDBG Repair Loan
• Type: Communication
• Status: Passed
• File created: 6/5/2025
• In control: Community Development Block Grant Advisory Board
• Final action: 6/17/2025
• Title: Subject: Communication sponsored by Mayor Mason, to issue a Community Development Block Grant (CDBG) home repair loan and forgivable grant to 1718 Charles Street. Recommendation of the CDBG Advisory Board on 06-09-25: To approve the CDBG home repair loan and forgivable grant to the owner of 1718 Charles Street as presented. Fiscal Note: $25,500 is the total project cost, $12,750 is a forgivable loan, and $12,750 is a loan at 0.5% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.

Date	Ver.	Action By	Action	Result
6/17/2025	A	Common Council	Approved
6/9/2025	A	Community Development Block Grant Advisory Board	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Mayor Mason, to issue a Community Development Block Grant (CDBG) home repair loan and forgivable grant to 1718 Charles Street.

Recommendation of the CDBG Advisory Board on 06-09-25: To approve the CDBG home repair loan and forgivable grant to the owner of 1718 Charles Street as presented.

Fiscal Note: $25,500 is the total project cost, $12,750 is a forgivable loan, and $12,750 is a loan at 0.5% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.