City of Racine - File #: Res.12-3266

• File #: Res.12-3266
• Version: A
• Name: HOME Grant Policy
• Type: Resolution
• Status: Passed
• File created: 8/6/2012
• In control: City Attorney's Office
• Final action: 8/6/2012
• Title: HOME Grant Policy Resolved, that the modifications to the home improvement loan matching grant policy is approved. The matching grant shall be no larger than the amount needed so that the housing cost ratio does not exceed 41% and/or total debt ratio does not exceed 45% or $14,999 (maximum grant), whichever is less. Fiscal Note: Grants are provided from Federal HOME funds. The change is necessary to bring the City's program into compliance with U.S. HUD guidelines and regulations.
• Sponsors: Dennis Wiser
• Related files: 12-7940

Date	Ver.	Action By	Action	Result
8/6/2012	A	Common Council	Adopted	Pass

Sponsor

Alderman Wiser

Title

HOME Grant Policy

Resolved, that the modifications to the home improvement loan matching grant policy is approved.  The matching grant shall be no larger than the amount needed so that the housing cost ratio does not exceed 41% and/or total debt ratio does not exceed 45% or $14,999 (maximum grant), whichever is less.

Fiscal Note: Grants are provided from Federal HOME funds. The change is necessary to bring the City's program into compliance with U.S. HUD guidelines and regulations.