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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 IRDE¢ (TITLE,)e . r with the Maine C[ ate' Housing^AuthovitY New Weighboxs AsgnedMCCwftiikw In,Uk"z fW04364