HomeMy WebLinkAbout8443-93 Appropriating $1,050,000 of Section 108 Loan Fund Plus Intrest Earned ORDINANCE No. 8443-93
Passed by the Common Council of the City of South Bend, Indiana.
_ November 29, IQ 93
Attest: City Clerk
IRENE K. GAMMON
Attest: :�__ ; - President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana_
November 30, tg 93
City Clerk
IRENE K. GAMMON
Approved and signed by me � Ig 93
h"'yL" Mayor
•
ORDINANCE NO. g*kk-1 -43
AN ORDINANCE APPROPRIATING $1,050,000 OF SECTION
108 LOAN FUNDS, PLUS INTEREST EARNED THEREON, FOR USE
IN THE SOUTH BEND HOUSING REHABILITATION INITIATIVE
STATEMENT OF PURPOSE AND INTENT:
In order to assure the efficient and timely utilization of Section 108 funds
and that the immediate needs of specific activities are met, appropriation of
funds is necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The sum of $1,050,000 of Section 108 loan funds, plus interest
earned on such funds, is hereby appropriated for use in low and moderate
income housing rehabilitation activities.
SECTION II. No costs will be incurred or funds expended for any of the
activities addressed in this ordinance prior to an official release of funds
received from the United States Department of Housing and Urban Development.
SECTION III. This Ordinance shall be in full force and effect from and after
its passage by the Common Council and approval by the Mayor.
Member of the Vommon Council
'0 4'SOU IHIB443
r
1 •. City of South Bend
Joseph E. Kernan. Mayor
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1865
Community & Economic Development
Jon R.Hunt Ann E.Kolata
Executive Director Deputy Executive Director
November 1, 1993
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will appropriate an anticipated
$1,050,000 in the Section 108 Loan Guarantee Program, for use in three low/mod housing
activities in accordance with our Proposed Statement. The Proposed Statement was
published in the South Bend Tribune on October 2, 1993, and in the Penny Saver on October
3, 1993. Comments were taken until October 22, 1993, and were considered in developing the
Final Statement for this Section 108 Loan Guarantee Program.
If you have any questions regarding this bill, please call me.
Sincerely,
Elizab6tt1 Leonard
Director
Financial & Program Management
cc: Jon Hunt
John March
Marcia Townsend
1200 County-City Building•South Bend,Indiana 46601.219/235-9371 •Fax(219)235-9021 •TDD(219)235-5567
Redevelopment Business Assistance Bureau of Housing Financial &Program Planning&
Ann E. Kolata &Development Kathryn Baumgartner Management Neighborhood Development
235-9371 Donald E. Inks 521 Eclipse Place Elizabeth Leonard Pamela C. Meyer
235-9335 235-9475 235-9335 235-9660
Fax: 235-9469 Fax: 235-9697
Qlnmmtttn larport
c1u the Tantrum Qiounril of Or Qlitg of0out11 Bruit:
Your Committee of the Whole
to whom was referred
BILL NO.
103-93 PUBLIC HEARING ON A BILL APPROPRIATING $1,050,000 OF
SECTION 108 LOAN FUNDS, PLUS INTEREST EARNED THEREON, FOR
USE IN THE SOUTH BEND HOUSING REHABILITATION INITIATIVE.
Respectfully report that they have examined the matter and that in their opinion
This bill has been recommended to the Council favorable.
Thomas Zakrzewski
Chairman