Appropriating $15,000.00 Community Development Block Grant Fund Home Purchase Monies

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BILL NO. ORDINANCE NO. C qCt t TS I AN ORDINANCE APPROPRIATING $15,000.00 FROM THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND, FOR HOME PURCHASE MONIES, TO BE ADMINISTERED BY THE CITY OF SOUTH BEND THROUGH ITS DIVISION OF COMMUNITY DEVELOPMENT AND RENEW, INC. STATEMENT OF PURPOSE AND INTENT: The City of South Bend, in creative and affirmative partnership with city residents, private enterprise, and the Federal Government, is committed to the national housing goal of "a decent home and a suitable living environment" for all persons. In attempting to achieve this goal, the City of South Bend has developed programs to assist non - profit groups to purchase in part, residential properties within the neighborhood strategy areas. Community Development Block Grant funds therefore, will be utilized by Renew, Inc. to purchase and rehabilitate housing units. Renew in turn will resell them to participants in the Renew Program. This program activity by Renew, Inc. will serve to assist low -and moderate - income families to become homeowners of standard housing purchased at affordable prices. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $15,000.00 is hereby appropriated for the program year starting July 7, 1981 from the City of South Bend's Community Development Block Grant Fund (Program Year 1981). The appropriation shall be used within the boundaries of the Community Development Neighborhood Strategy Areas as approved by the United States Department of Housing and Urban Development under Title Twenty -Four (24), Code of Federal Regulations Part Five Hundred and Seventy (570) for the Community Development Program Year 1981. The appropriation shall be administered by the Division of Community Development and Renew, Inc. and will be administered as set forth below: PROGRAM CD -81 -111.1 Wa 1k M 1 I 6'u DI� ,1 (0 PURPOSE AMOUNT Home Purchase Monies $15,000.00 TOTAL: $15,000.00 SECTION II. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. 4 _ GZ Member of the Common Council 1st READING /O -.a 6 - &� PUBLIC HEARING //- Cj- r 2nd READING //_,q— NOT APPROVED REFERRED PASSED // - 9 -� FILED IN CLERK'S OFFICE OCT 2 11981 Irene Gammon CITY CLERK, SOUTH BEND, IND.