Laserfiche WebLink
ORDINANCE NO. lO Ab—95 <br /> AN ORDINANCE APPROPRIATING $130,000.00 FROM PROGRAM INCOME <br /> FUNDS IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND <br /> FOR THE PURPOSE OF CONTINUING THE NORTHWEST REVOLVING LOAN FUND <br /> Statement of Purpose and Intent: <br /> The government of the City of South Bend, in partnership with the City's private sector <br /> and residents, is committed to the goal of "a decent home and a suitable living environment" for all <br /> persons. As part of this commitment to a comprehensive housing program, the City of South Bend <br /> through its Department of Community and Economic Development, has identified projects which will <br /> maintain, improve, and preserve affordable housing stock. In order to implement the aforementioned <br /> activities, funds are required. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The sum of$130,000.00 is hereby appropriated from Community <br /> Development Block Grant program income for the continuation of the Northwest Revolving Loan Fund in <br /> providing rehabilitation loans and grants for low and moderate income homeowners in the Near Northwest <br /> Neighborhood. The appropriation shall be used as approved by the United States Department of Housing <br /> and Urban Development under Title Twenty-four (24) of the Code of Federal Regulations, Part Five <br /> Hundred and Seventy (570). This appropriation shall be administered by the Department of Community <br /> and Economic Development and its designated subgrantee, the Near Northwest Neighborhood, Inc., as set <br /> forth below: <br /> Community Development Program <br /> Project No. Purpose Amount <br /> 95-112 Northwest Revolving Loan Fund $130,000 <br /> TOTAL: $130,000 <br /> SECTION II. No costs will be incurred or funds expended for any of the activities addressed in <br /> this ordinance prior to completion and subsequent certification of the Environmental Review Process <br /> specified under Title Twenty-four (24) of the Code of Federal Regulations, Part Fifty-eight (58) and an <br /> official release of funds received from the United States Department of Housing and Urban Development. <br /> SECTION III. This Ordinance shall be in full force and effect from and after its passage by the <br /> Common Council and approval by the Mayor. <br /> ber . e Common Council <br />