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1150-17
| A | | Request for amendement (Res. 0409-17) | Communication | Subject: (Direct Referral) Request by Racine Vocational Ministry for amendment of the FY2017 CDBG budget. (Res. 0409-17)
Recommendation of the Community Development Committee on 11-30-17: This item was on the agenda for the November 30th meeting of the committee. However, the committee was unable to act due to lack of a quorum. This item is time sensitive and requires council action.
Staff Recommendation: That the Community Development Committee approve the $825 Audit Fees line item decrease and $825 Employee Benefits (Health Insurance) line item increase for the Racine Vocational Ministry FY 2017 CDBG Budget.
Fiscal Note: The total FY 2017 CDBG budget Racine Vocational Ministry will remain $48,962. | | |
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1151-17
| A | | Request (Res. 0410-17) | Communication | Subject: (Direct Referral) Request from the Manager of Housing and Community Development for $300,000 of HOME funds loaned to Gold Medal Lofts (Res. 0410-17)
Recommendation of the Community Development Committee on 11-30-17: This item was on the agenda for the November 30th meeting of the committee. However, the committee was unable to act due to lack of a quorum. This item is time sensitive and requires council action.
Staff Recommendation: That the Community Development Committee approve a HOME loan to Gold Medal Lofts for $300,000 at 1% interest with a 20 year term. Repayment of full principal will be required by end of the 20 year loan term. Mortgage, promissory note, land use restriction agreement, and HOME agreement to be signed at closing after demonstrating full project financing and environmental review.
Fiscal Note: There are sufficient HOME funds to make the loan. All principal and interest would be returned to the city as program Income. | | |
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1154-17
| A | | Request (Res. 0411-17) | Communication | Subject: (Direct Referral) Request by Great Lakes CCC for funds to rehabilitate a single-family house at 1432 Illinois Street. (Res. 0411-17)
Recommendation of the Community Development Committee on 11-30-17: This item was on the agenda for the November 30th meeting of the committee. However, the committee was unable to act due to lack of a quorum. This item is time sensitive and requires council action.
Staff Recommendation: Department of City Development - Division of Housing and Community Development requests that the Community Development Committee approve a resolution authorizing a $50,000 loan and a $60,000 grant of CDBG funds to Great Lakes Community Conservation Corps for rehabilitation of a single-fiamily house at 1432 Illinois Street.
Fiscal Note: There are sufficient CDBG funds for the recommendation. The funds were allocated to homeowner housing rehabilitation projects in the 2016 and 2017 City of Racine Annual Plans. | | |
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1155-17
| A | | Request (Res. 0412-17) | Communication | Subject: (Direct Referral) Request by Racine Revitalization Partnership for funds to rehabilitate single family houses at 1315 Grand Avenue and 1632 Murray Avenue. (Res. 0412-17)
Recommendation of the Community Development Committee on 11-30-17: This item was on the agenda for the November 30th meeting of the committee. However, the committee was unable to act due to lack of a quorum. This item is time sensitive and requires council action.
Staff Recommendation: Department of City Development - Division of Housing and Community Development requests that the Community Development Committee approve a resolution authorizing $200,000 of CDBG funds to Racine Revitalization Partnership (RRP) for rehabilitation of single-family houses at 1315 Grand Avenue and 1632 Murray Avenue. Program income as defined by HUD will be returned to the city.
Fiscal Note: There are sufficient CDBG funds for the staff recommendation. The funds were allocated to homeowner housing rehabilitation projects in the 2016 and 2017 City of Racine Annual Plans. | | |
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