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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 a........................... c �roPeT�' <..r..Ri° ...atinn aOen ;..gram ........................ ley C. IN cxxx CODexla December 26, 1984 Introduced and filed by ag&k C � councilman cx4r cx.mix - "o o. a rC e.