Subject: Communication Sponsored by Mayor Mason to Recommend Approval of Revised Terms for CDBG Home Repair and Forgivable Loan at 1720 Grand Avenue Due to Added Lead Abatement. Recommendation of the CDBG Advisory Board on 01-13-25: To approve the new terms for the CDBG Home Repair Loan and Forgivable Loan for 1720 Grand Avenue as presented. Fiscal Note: $15,524 is the total project cost, $3,105 is a forgivable loan, and $12,419 is a loan at 3% interest. There are sufficient funds in the CDBG Revolving Loan Fund. Loan payments will be paid to the CDBG revolving loan fund.

Committee

Community Development Block Grant Advisory Board

Requested by

City Development Department

Introduced

January 7, 2025

On agenda

January 21, 2025

Passed

January 21, 2025