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07-0575
| A | | Pamela Dvorak | Application | Subject: Request from Pamela Dvorak of 1429 N. Main Street, Racine, WI 53402 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $5,000 be approved. | Approved | Pass |
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07-0576
| A | | Michael Janca | Application | Subject: Request from Michael Janca of 1547 S. Memorial Dr., Racine, WI 53403 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $35,000 be approved.
Recommendation of the Loan Board of Review on 9/20/2007: That a loan increase of $8,000, for a total of $43,000 be approved. | Approved | Pass |
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07-0577
| A | | Lynne and Donna Lang | Application | Subject: Request from Lynne and Donna Lang of 2119 Slauson Ave., Racine, WI 53403 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $5,000 be approved | Approved | Pass |
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07-0578
| A | | Michelle Mayfield | Application | Subject: Request from Michelle Mayfield of 2113 Harriet Street, Racine, WI 53404 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $16,000 be approved
New request from Michelle Mayfield to increase loan amount by $1,000 for a total of $17,000 for a home improvement loan. | Approved | Pass |
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07-0579
| A | | Teresita Selbera | Application | Subject: Request from Teresita Selbera of 1214 Center Street, Racine, WI 53403 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $10,000 be approved.
New Request from Teresita Selbera for a loan increase of $4,000 for a total of $14,000 home improvement loan.
Recommendation of the Loan Board of Review on 7-28-2007: That a loan increase of $4,000 for a total of $14,000 be approved. | Approved | Pass |
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07-0651
| A | | Rogelio Zuniga | Communication | Subject: Request from Rogelio Zuniga of 1912 Mead Street, Racine, WI 53403 for a home improvement loan
Recommendation of the Loan Board of Review on 5-17-2007: That a fixed interest loan in an amount up to $25,000 be approved | Approved | Pass |
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07-0574
| A | | Mohammed Al-Abed | Application | Subject: Request from Mohammed Al-Abed of 1556 Taylor Avenue, Racine, WI 53403 for a Rental Assistance Loan
Recommendation of the Loan Board of Review on 5-17-2007: That a Rental Assistance loan in an amount up to $25,000 be approved | Approved | Pass |
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07-0617
| A | | Mr. Damian Warshall, Vice President Housing Investments JPMorgan Capital Corporation | Communication | Subject: Request from Mr. Damian Warshall, Vice President Housing Investments JPMorgan Capital Corporation for City Loan Board of Review to write off loan on Lincoln School Historic Apartments at 1130 Carlisle Avenue, Racine, WI 53404
Recommendation of the Loan Board on 6-28-07: That the Mayor and City Clerk be authorized and direct to execute an Assignment, Assumption and Novation Agreement with Lincoln School Historic Apartments and WHP-Lincoln School, LLC, and a Payment in Lieu of Taxes Agreement for the property.
Fiscal Note: The recommended action revises the city’s mortgage on this property. It does not write it off. The revision provides for the city to receive a payment of $29,296.00 on this currently non-performing mortgage and for the mortgage to be restructured so that principal and interest are forgiven over a 14 year period (1/14th per year) if the apartments remain affordable for low and moderate income persons. The revision allows the property to be sold to a non-profit organization that will improve the property and has agreed to make payments in lieu of propert | Deferred | Pass |
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