HomeMy WebLinkAbout2001-11-14 02-22 ORDERItem No. 02-22
Date: November 12, 2001
Item/Subject Authorization to Enter Agreement with the Maine State Housing Authority --
New Neighbors Program
Responsible Department: Community R Economic Development
This Order would authorize the CiWs participation In the Maine Sate Housing Authorityls New Neighbors
Program. The New Neighbors Program provides up to 1W% mortgage financing For homeownership
opportunities for first time and certain non -first time homebuyers who wish to buy and rehabilitate
i fisting 1 to 4 unit properties located within eligible designated downtown areas. In June the City
applied to the Maine State Housing Authority to participate and was selected along with Portland,
Lewiston, Auburn, Augusta, Bath, Norway, and Westbrook m share In the $16,600,000 available funds.
In this round of the New Neighbors Program municipalities were asketl to emphasize revitalization of
downtown neighborhoods. bigible neighborhoods were selected on census demographic data Bangor
selected every census black group neighborhood that had at least one border on the cure downtown
area.
Department Head
Managers Comments:
Recommend approval, as does Business and Economic Development. &O/Z
{p City Manager
Associated Information:
Budget Approval:
zyud[�e/t[L�({/�'
Fnance D -t Nr
Legal Approval:
4sol icor
Introduced for
X Passage
_ First Reading Page _ of
Referral
oz -22
C Obi Lv Assignadtocounciiw Haldacei November 14, zool
n CITY OF BANGOR
(TINE.) Order, Authorization to Enter Agreement with the Maine State Housing
Authority - New Neighbors Program
ORDERED, THAT
WHEREAS, In ober to pmovide lnrn o reship opportunNg b flirt-Nme and non-first-Gme
homebuyers wino wish ro purohaor and minelayers existing 14 family propenes located! whhin
eligible Eeagnated tlowmown rvrghboMoods, The City of Bangor has spatial to paMcipate in
partnership wIM the Maine State Housing Authority and local lenders In conjunction with the New
Neighbors Program, and
WHEREAS, The Ory's applimtbn was approvel by MSHA,
NOW, THEREFORE, BE IT ONDENED by the City Council of Me City of Bangor, that
the Ory Manager Is hereby autlwriarl m execute a New Neighbors Program Agreement, and
other documents that may be necessary for Me Chi partbipabon in the New Neighbors
Program, in a form approved by th City SOBcftm
ID CITY COUNCIL
November 14, 200I
Notion Made and seeovded
fox Passage
Passed
C T[
y 02-22
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