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File #: 1092-24    Version: A Name: 2915 Douglas Ave. CDBG Loan
Type: Communication Status: Committee Report To Council
File created: 12/3/2024 In control: Community Development Block Grant Advisory Board
On agenda: Final action:
Title: Subject: Communication sponsored by Mayor Mason to issue a Community Development Block Grant (CDBG) home repair loan to 2915 Douglas Ave. 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 2915 Douglas Ave. Fiscal Note: $36,950 is the total project cost, $10,000 is a TID grant through the CDA, $13,475 is a forgivable grant, and $13,475 is a loan at 0.75% interest. There are sufficient funds available in the CDBG Revolving Loan Fund.

Title

Subject: Communication sponsored by Mayor Mason to issue a Community Development Block Grant (CDBG) home repair loan to 2915 Douglas Ave.

 

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 2915 Douglas Ave.

 

Fiscal Note: $36,950 is the total project cost, $10,000 is a TID grant through the CDA, $13,475 is a forgivable grant, and $13,475 is a loan at 0.75% interest. There are sufficient funds available in the CDBG Revolving Loan Fund.