HomeMy WebLinkAbout1984-12-10 85-48 ORDER85-48
Introduced by Councilor Frankel, December 10, 1984
CITY OF BANGOR
(TITLE.) IjoYDEr....... Amearm city or_s ngor c®munity D alepmanc_g oparty ....-
Bg tkw cur Caunc2 of Mw My of Bangor:
ORDERED,
THAT Section 1.3. of the City of Bangor Community Development
Property Rehabilitation Loan Program approved and adopted by passage
of CouncilOrder 82-729 on September 13, 1982 be amended a5 follows:
3. Interest Rate. The interest rate for a rehabilitation loan
sPai}�ge-zE-a--rate-o€-38-4er-year-on-Cite-pClrq}@aybats9axd;oq.
involving an ovnex-occuppi ed Pro
rt'
con ha ininq not more than four
dwelling
or
et t6 rob
ab ilitatron shall be at an interest rate of
38 per year on the principal outstanding. .The interest rate for a
rehabilitation loan i volving an owner who does not reside n the
proper tire
be rehabilitated or owner-occupplea Property
contain mq five or more dwellingaunits shall be at a rate of 66 per
ear n the principal outstandin
STATEMENT OF FACT: Additions are Underlined and deletions axe
atrvek-wM.
85-48
ORDER
In City Council December 10,198 . ,
Aefered to Finance Committee JTitle,
and community development committee
consider next meeting - �Meniing City of Dangor Community Development
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IN cxxx CODexla
December 26, 1984 Introduced and filed by
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councilman
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