City of Racine - File #: 0593-25

• File #: 0593-25
• Version: A
• Name: 1220 Illinois 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 1220 Illinois Street. Recommendation of CDBG Advisory Board on 06-09-25: To approve the CDBG home repair loan and forgivable grant to the owner of 1220 Illinois Street as presented. Fiscal Note: $36,450 is the total project cost, $18,225 is a forgivable loan, and $18,225 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 1220 Illinois Street.

Recommendation of CDBG Advisory Board on 06-09-25: To approve the CDBG home repair loan and forgivable grant to the owner of 1220 Illinois Street as presented.

Fiscal Note: $36,450 is the total project cost, $18,225 is a forgivable loan, and $18,225 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.