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HomeMy WebLinkAbout1974-04-22 138 AB RESOLVE136 AB ' introduced by Councilor ¢rountas, April 22, 1979 CITY OF BANGOR (pjLE,) y)LQgp a id ng_f-ox ---- ,ml. Funtli elf the Co t t„ ,.; ..., Housing for the Elderly - York -Hancock Street Neighborhood Development program ByW pry Cwimit olRu CVq olRanpor. RMLVRD. NIHRMS, a need presently exists in the City Of Bangor for additional housing for the elderly; and WHEREAS, the Housing Authority of the City of Bangor has taken action for purposes of building such housing in the York -Hancock Street area of the City; and WHEREAS, funds totaling $1,018,000 have been raised or otherwise dedicated for such purposes; and Wlfl•:LEAS, It has been determined that the cost of said facilities is an estimated $2,210,641, leaving an estimated deficit of $192,641 from funds already raised or dedicated for such purposes; and WHEREAS, additional funds may be available from sources Outside the City In the amount of $150,000 for purposes of meeting said deficit; and WHEREAS, It isnecessary for the City traise additional amount not to exceed $50,000 for Purposes of meeting its shareof said deficit; and WHER84S, said additional City funds will be needed during the year 1974, NOW, THEREFORE, By the City Council of the City of Bangor: RESOLVED, THAT it is hereby deemed to be in the beat interests of the public and of the inhabitants of the City to conatruct additional facilities for housing the elderly in the York -Hancock Street a and for that purpose it will be necessary for the City to borrow an amount not to exceed $50,000 and in evidence thereof issue bonds of the City, and RESOLVED, TDAT the City Council hereby declares and agrees for and on behalf of said City and its inhabitants, to provide for and borrow and issue bonds therefor during the year L974, as recommended by the Finance Committee of the City Council, an amount not to exceed $50,000 for purposes of constructing facilities for housing for the elderly in the York -Hancock Street area of the City on such terms and conditions as may be deemed necessary and proper by the Bangor City Connell; or Be it further RESOLVED, THAT, in the alternative, and subject to the approval of the Finance C®ittee of the City Council, the City Council hereby declares and agrees to appropriate it= available Federal r sharing funds an amount not to exceed $50,000 for the purposes provided herein• XWCITY COLWIL April 33, 1974 Amended by changing $2,210,641 to $1,210,641 in 4th paragraph, than passed. I �N( 138 AE EES0LVE Prov. for Addie. Funding for Construe. of Hou[. for Elderly -York -Hancock St. Ne[�g}�['Food Dev. P[ g. -->�- RECEIVED 19A APR 19 m 8:20 CITY CLER%S OFFICE ITY nR R `.N"R, MAINE