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File #: 0126-25    Version: A Name: 1202 Main St. CDBG Loan
Type: Communication Status: Passed
File created: 2/5/2025 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 a forgivable loan to 1202 Main Street. Staff Recommendation: That the CDBG Advisory Board recommends approval of the CDBG Home Repair Loan and Forgivable Loan for 1202 Main Street as presented. Fiscal Note: $8,600 is the total project cost, $4,300 is a forgivable loan, and $4,300 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.
Attachments: 1. ABM_1202 Main St, 2. #0126-25 Resolution

Title

Subject: Communication sponsored by Mayor Mason, to issue a Community Development Block Grant (CDBG) home repair loan and a forgivable loan to 1202 Main Street.                     

 

Staff Recommendation: That the CDBG Advisory Board recommends approval of the CDBG Home Repair Loan and Forgivable Loan for 1202 Main Street as presented.

 

Fiscal Note: $8,600 is the total project cost, $4,300 is a forgivable loan, and $4,300 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.