City of Racine - File #: 1093-24

• File #: 1093-24
• Version: A
• Name: 2501 Gilson St. CDBG Loan
• Type: Communication
• Status: Passed
• File created: 12/3/2024
• In control: Community Development Block Grant Advisory Board
• On agenda: 1/7/2025
• Final action: 1/7/2025
• Title: Subject: Communication sponsored by Mayor Mason to issue a Community Development Block Grant (CDBG) home repair loan to 2501 Gilson Street. Recommendation of the CDBG Advisory Board on 12-09-24: To approve the terms as presented for the CDBG home repair loan and forgivable grant to the owner of 2501 Gilson St. Fiscal Note: The total project cost is up to $50,000, up to $25,000 is a grant, and up to $25,000 is a loan at 0.75% interest. There are sufficient funds available in the CDBG Revolving Loan Fund.

Date	Ver.	Action By	Action	Result
1/7/2025	A	Common Council	Approved as Presented	Pass
12/9/2024	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 to 2501 Gilson Street.

Recommendation of the CDBG Advisory Board on 12-09-24: To approve the terms as presented for the CDBG home repair loan and forgivable grant to the owner of 2501 Gilson St.

Fiscal Note: The total project cost is up to $50,000, up to $25,000 is a grant, and up to $25,000 is a loan at 0.75% interest. There are sufficient funds available in the CDBG Revolving Loan Fund.