City of Racine - File #: 0571-23

• File #: 0571-23
• Version: A
• Type: Communication
• Status: Committee Report To Council
• File created: 6/6/2023
• In control: Community Development Block Grant Advisory Board
• On agenda: 7/18/2023
• Final action: 7/18/2023
• Title: Subject: Communication sponsored by Mayor Mason requesting an allocation up to $240,000 of the Community Development Block Grant (CDBG) Revolving Loan Fund ($120,000 - Forgivable; $120,000 Loan) for the rehabilitation of 614 9th Street by Racine Revitalization Partnership. Recommendation of the Community Development Block Grant Advisory Board on 06-12-23: That the CDBG Advisory Board recommends approval of the $240,000 multi-family CDBG revolving loan ($120,000 - Forgivable, $120,000 - Loan) to the Racine Revitalization Partnership. Fiscal Note: The CDBG Multifamily Revolving Loan Fund has sufficient funds ($380,042.91) to cover the cost of the loan and forgivable loan.

Date	Ver.	Action By	Action	Result
7/18/2023	A	Common Council	Approved
6/12/2023	A	Community Development Block Grant Advisory Board	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Mayor Mason requesting an allocation up to $240,000 of the Community Development Block Grant (CDBG) Revolving Loan Fund ($120,000 - Forgivable; $120,000 Loan) for the rehabilitation of 614 9^th Street by Racine Revitalization Partnership.

Recommendation of the Community Development Block Grant Advisory Board on 06-12-23: That the CDBG Advisory Board recommends approval of the $240,000 multi-family CDBG revolving loan ($120,000 - Forgivable, $120,000 - Loan) to the Racine Revitalization Partnership. 

Fiscal Note: The CDBG Multifamily Revolving Loan Fund has sufficient funds ($380,042.91) to cover the cost of the loan and forgivable loan.