HomeMy WebLinkAbout1983-06-13 83-227 ORDER83-22]
Introduced by Councilor Jordan, dune 13, 1983
ry`p CITY OF BANGOR
(TITLE) nNgr, _Amending City of Bangor Community Development __..
Property Rehabilitation Loan Program
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BY Be City Counsel ofd a My of Better.
ORDERED, _
THAT Section A of the City of Bangor Community Development
Property Rehabilitation Loan Program be amended as follows: -
A. Introduction
This Plan establishes the policies and procedures of the City.
of Bangor applicable to providing rehabilitation assistance to
rehabilitate privately owned properties. in. Community Development
Project Areas or properties elsewhere in the City of Bangor which
have been approved for assistanceunder the. Department of Housing
and Urban Development (HUD) Section. 8 or other Federal or State
rent or rehabilitation subsidy program. Loans mama 'o
Communr o 0 Pxa'ecf Aiead axe lvmrte t6�f t ent
5 ) o tota ¢ e Ye a v:itat ion costa.
AND BE IT FURTHER ORDERED THAT Section S of the City of Bangor
Community Development Property Rehabilitation Loan Program be amended
as follows:
S. Project Area Eligible for Loan Assistance
Property rehabilitation loans under this program shall be made
only with respect to a residential property or the residential
portion of a mixed-use property located within Community_ Development
Project Areas as designated by Order of the City Council of the
City of Bangor or properties. located elsewhere. in the City of
Bangor which have been approved fpr assistance. under. HUD' s. Section
8 Moderate Rehabilitation Program or. other Federal- r State rent
or rehabilitationb de program. Loans mad t sire o Cain Dove opmo ant Prro'— t�AY a aY lvmife ,to 1 iY percent
totafe3izible h bil tacron osis.
STATEMENT OF FACT: Additions are underlined. The intent of this =end -
or tvso permit up to 50% participation eligible property rehabilita-
tion with Community Development funds in conjunction with the new U.S.
Department of Housing and Urban Development (HUD) Rental Rehabilitation
Demonstration program under which HUD provides rent subsidies to low -
and moderate -income tenants and the State provides up to 10% funding
of total rehabilitation costs.,
In City Council June 13:1°83 83-27
Passed a R n B R
:-ate Titled 83 'r'.
ty Clerk �ru
paandign City of Bangor CrSty Development
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Property Reh3631tetiion Loan Program Ci i1';"[
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/ sauced and filed by
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. D ?man