City of Racine - File #: Res.08-0970

• File #: Res.08-0970
• Version: A
• Name: New home owner loan program for assessment projects over $2,000
• Type: Resolution
• Status: Passed
• File created: 8/19/2008
• In control: City Attorney's Office
• Final action: 8/19/2008
• Title: New home owner loan program for assessment projects over $2,000 Resolved, that a new home owner loan program for assessment projects over $2,000 be established and funded through the 801 Special Assessment Fund. The program will be administered through the City Housing Department and follow all rules, regulations and income guidelines of the CDBG Fixed Interest Loan Program. Fiscal Note: There are sufficient funds available to fund this program. CDBG Income guidelines will be used to determine eligibility and interest rates. Loans will require monthly payments with terms up to 20 years. All applications and subsequent loans will be handled in a manner identical to the CDBG Fixed Interest Loan Program.
• Sponsors: Thomas Friedel1
• Related files: 08-2074

Date	Ver.	Action By	Action	Result
8/19/2008	A	Common Council	Adopted	Pass

Sponsor

Alderman Friedel

Title

New home owner loan program for assessment projects over $2,000

Resolved, that a new home owner loan program for assessment projects over $2,000 be established and funded through the 801 Special Assessment Fund. The program will be administered through the City Housing Department and follow all rules, regulations and income guidelines of the CDBG Fixed Interest Loan Program.

Fiscal Note: There are sufficient funds available to fund this program. CDBG Income guidelines will be used to determine eligibility and interest rates. Loans will require monthly payments with terms up to 20 years. All applications and subsequent loans will be handled in a manner identical to the CDBG Fixed Interest Loan Program.