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HomeMy WebLinkAbout1979-06-25 301 AG RESOLVE301 M Introduced by Councilor Soucy, due 35, 1979 CITY OF BANGOR (TUTEE.) AgSdbp .Certlficqtioa of Compliance with Federal Regulations Involving the Section 312 Rehabilitation Loan Prearaa By Me Oily CoaxB of the GYey of Baa .- BBBOLVBD, wIP�on April U. 1979. the Departnent of Rousing and Urban Development (HUD) published new interim regulations in the Federal Register in ingLAaeutation of legislative ohan es in the Rehabilitation Ivan Pragrasa authorized by Section 312 of the Housing Act of 1964) end WRURFASe these new regulations require a c®wlty involved in a Section 312 Rehabilitation Loin Program to provide relocation benefits to e11persons forced to relocate due to undertakings in connection with the said Section 312 prograql and whbqlca�e the regulations publiabed in the Federal Reglster an April ll,. 1979 require that the locality must certify to HUD that relocation benefits wall be provided to tenants involuntarily displaced due to the operation of the Sectio. 312 Rehabilitation Lam Program: MOW, ThIchyc us BY TRE an COUNCIL OF THE CITY OF BAIB.'OR BE IT RESOLM THAT: I. The city of Bangorcertifies that it will c®ply with Section 510:105 of Part 24 of the Code of Federal Regulations, a copy of 'which is attached hereto. 2. The City of Bangor certifies that it can and -will make relocation benefits available to tenants in both one -to -four unit properties and multi -fanny properties. 3• The City of Bangor certifies that such relocation benefits will be cmparable W those pawided tenants occupying a private Owner property located in a Neighborhood Strategy Area that is to be rehabilitated Order the Section 8 3ubstantiaL Rehabilitation Program. 4. The City Manager as hereby authorized W forward a copy of this Resolve to the Department of Rousing and Urian Development. P9 t fox+' RM. 301 A0 N E 5 0 L V E In City Council June 25.1979 Passed Certi icat on of Com ante W h e eiguxons involving w✓' �- a ec on. a e i on C lank Loan Program 1 1 301 AG PART 516—SECTION 312 REHABILITATION LOAN PROGRAM Men slaves C111,11. 510.103 All I I I4,My 1'mpmly Lnlnn. r Iwe and l2demm lnmmm Prlwiy'. sic 19 Nonrcxidaanel Wan Limn. snalli onp Pur W....p 6mal yeah. !aw11y: 5n. TZ of the UnilN Slww - IloufnZAntaf10M1 ZU.&C Math]. oW e Idl Oepnnmeat of lbusic3 and tWmn Ife.dapnnnt ro:gnx US.n aabs), PART 510 -SECTION 313 REHABILITATION LOAN PROGRAM t, §51o.101 Putnam yet purpwe of this Part is 10 ' implement le8islalive em"chnenlsus Ne Nehabililmion Loan prop . aulhoneed by station 333 of the Houlop Act of IM, 9510.10] Gallant. These re6ulationseup,mode any as ... ieleel provisions in the - Nehabl0atinnAmass" Handbook HUD NandWok)WSd. 301 AS Fademl Raaimor/ Vol. N. Nm e1 / Wnlneedq. Aril 11. tent Ilul11 u•N llepuhliom 12) The number of wits arise romblllletian indebtedness hof at least a 931o.toe Nonmalignant lean emit miltilluliart ten-year term) secured by the Property. of conventiorm onal ialprorcombbiliodam (3) Borrowers name and address. t (2) Dividing the fond culeWmedln residential fa stimulate (.) Address of the properly to be pemearae, 111(1) by e3 W adjust for property, shall portion !exceed SIMM n(5)M:r:ed.gag vacancies 0-'getattt mashy forU soaping Other (5) Mortgage recordation informetim 90ividin the emowleelcula@din (6) d provision lobe in effect iota paragraph (fill by 12 to calculate fermwinds. re year period from the data of monthly rent, To the extent feasible.pr rily shall aaple:ion of d:e rehabilitation. which igj Potential Involuntary, displacement be given to applications far grant W3 slitaij Ilmil the amount of renis charged shell be addressed as follows loan in which Section 312 funds are s of the property. The total (1)To the extant feasible, rho locdity used to leverage additional funds fmn —aa'h!y rents chmied for all dwelling shall minimal involuntary diaplewment private sources. In the con of leveraging n the property shall not exceed an n all cereals of its Section 312 pmgmm arrangements, subordination of ha airs! d d in accordance with operation& Section 312 loan morgage insu ormit to pe:eotacomputed M of this sector. (2)1pnvoluntary dimiamemenr does The mortgage of the Pebilm lender is !'1def:avisien'to allow periodic renes res u result of a Section 312 human cceptable, increases to ti relsemion benefits to too tenants pl bath a Issued at Washington. O.C. Narch lx TrA, nSuch increases is shall be one-Ie,fouf wit propeelias and a�.inthethe borroweq multifamily essential shall be prodded '• w�a4Yle �snrv.+w-•v we masa to is mallitoined for HM inspection at edi the lorwhT. .11 its owing for eperlmtl n of fileyears Relocallon benefits In Urban following the expiration of ibet..or.' Rmlewel or Model atlas prolmna shall ppa:Nrwuni�n:w�uaemW