City of Racine - File #: 0376-25

• File #: 0376-25
• Version: A
• Name: 2304 West Lawn Ave. Repair Loan
• Type: Communication
• Status: Passed
• File created: 4/4/2025
• In control: Community Development Block Grant Advisory Board
• On agenda: 4/14/2025
• Final action: 4/14/2025
• Title: Subject: Communication sponsored by Mayor Mason, to issue a Community Development Block Grant (CDBG) home repair loan and forgivable loan to 2304 West Lawn Avenue. Staff Recommendation: That the CDBG Advisory Board approves the CDBG Home Repair Loan for 2304 West Lawn Avenue as presented. Fiscal Note:Fiscal Note: $42,450.94 is the total project cost, $21,225.47 is a forgivable loan, and $21,225.47 is a loan at 0.75% 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
4/14/2025	A	Common Council	Approved as Presented	Pass
4/7/2025	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 loan to 2304 West Lawn Avenue.

Staff Recommendation: That the CDBG Advisory Board approves the CDBG Home Repair Loan for 2304 West Lawn Avenue as presented.

Fiscal Note:Fiscal Note: $42,450.94 is the total project cost, $21,225.47 is a forgivable loan, and $21,225.47 is a loan at 0.75% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.