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Common Council <br />Memorandum <br />November 9, 1977 <br />Page -2- <br />(4) based upon eligible applicants poten- <br />tial allocations of $186,850.00 in <br />cash rebates; and <br />(5) generated over $4.00 of private rehabi- <br />litation for every $1.00 of public money <br />expended. <br />To insure that the progress to date is continued and that <br />all eligible applicants receive cash rebates on completed work, the <br />Community Development Program is submitting a bill appropriating <br />$50,000.00 from the 1977 CDBG's Unspecified Local Option Fund to be <br />utilized as follows: <br />(1) $43,449.00, for the "percentage cash <br />rebates" to cover allocations above <br />the original $150,000 rebate fund; and <br />(2) $6,551.00, to cover salary and fringe <br />of the Project Director from March 15, <br />1978, to August 15, 1978. <br />Based upon the apparent success of Project Rebate and the <br />benefits to moderate and lower income families, we believe that the <br />appropriation would be an effective and efficient use of CDBG monies. <br />Therefore, we are requesting your favorable consideration <br />of the bill. Should you have any questions concerning the enclosed <br />bill or Project Rebate please contact me or Mr. Jon Hunt (284- 9335). <br />efe <br />CC: Jon R. Hunt <br />John DeLee <br />Joseph F. Nagy <br />Enclosure <br />