Subject: Communication sponsored by Mayor Mason to issue a Community Development Block Grant (CDBG) home repair loan to 2915 Douglas Ave. Recommendation of the CDBG Advisory Board on 12-09-24: To approve the terms as presented for the CDBG home repair loan and forgivable grant to the owner of 2915 Douglas Ave. Recommendation of the Common Council on 01-07-2025: That the terms as presented for the CDBG home repair loan and forgivable grant to the owner of 2915 Douglas Ave be Deferred to the next Common Council.. Fiscal Note: $36,950 is the total project cost, $10,000 is a TID grant through the CDA, $13,475 is a forgivable grant, and $13,475 is a loan at 0.75% interest. There are sufficient funds available in the CDBG Revolving Loan Fund.

Committee

Community Development Block Grant Advisory Board

Requested by

City Development Department

Introduced

December 3, 2024

On agenda

January 21, 2025

Passed

January 21, 2025