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File #: 0375-25    Version: A Name: 944 Park 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 944 Park Avenue. Staff Recommendation: That the CDBG Advisory Board approves the CDBG Home Repair Loan for 944 Park Avenue as presented. Fiscal Note: $50,000 is the total project cost, $10,000 is a forgivable loan, and $40,000 is a loan at 3% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.
Attachments: 1. ABM_944 Park Avenue, 2. #0375-25 Resolution

Title

Subject: Communication sponsored by Mayor Mason, to issue a Community Development Block Grant (CDBG) home repair loan and forgivable loan to 944 Park Avenue.

 

Staff Recommendation: That the CDBG Advisory Board approves the CDBG Home Repair Loan for 944 Park Avenue as presented.

 

Fiscal Note: $50,000 is the total project cost, $10,000 is a forgivable loan, and $40,000 is a loan at 3% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.