HomeMy WebLinkAbout1996-104-09/17/1996-COLORADO DIVISION OF HOUSING FUNDING REQUEST LARIMER HOME IMPROVEMENT PROGRAM REHABILITATION LOANS RESOLUTION 96-104
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE MAYOR TO EXECUTE AN APPLICATION
TO REQUEST FUNDING FOR THE ENSUING FISCAL YEAR FROM THE
COLORADO DIVISION OF HOUSING FOR THE LARIMER
HOME IMPROVEMENT PROGRAM
WHEREAS, the Colorado Division of Housing has offered the Cities of Fort Collins and
Loveland,Latimer County, and the Fort Collins and Loveland Housing Authorities the opportunity
to request a grant in the approximate sum of$350,000, utilizing Colorado Small Cities Community
Development Block Grant funds and Federal HOME Program funds for an ongoing, County-wide
housing rehabilitation program("the Program"); and
WHEREAS, the purpose of the Program is to provide housing rehabilitation loans to low
income households that would not otherwise be able to afford major home repairs; and
WHEREAS, the Program will enable the City to better preserve its existing housing stock;
and
WHEREAS, the Program requires that "matching funds" be provided from the receiving
entities; and
WHEREAS,the City must,accordingly,pledge the sum of$22,500 of local funds(local non-
federal sources) to the Program; and
WHEREAS, the needed sum is available in the Affordable Housing Trust within General
Fund Reserves, and has been included in projections for the use of funds in that account; and
WHEREAS, the Housing Authority of the City of Loveland has agreed to manage the
Program on a County-wide basis, and the Council of the City of Fort Collins has determined that the
Loveland Housing Authority has heretofore competently and capably performed such management;
and
NOW, THEREFORE, BE IT RESOLVED BY COUNCIL OF THE CITY OF FORT
COLLINS as follows:
That the Mayor be, and hereby is, authorized to endorse the City's participation in the
Latimer Home Improvement Program (LHIP) for the next fiscal year.
Passed and adopted at a regular meeting of the Council of the City of Fort Cpl1[s held this
17th day of September, A.D. 1996.
j.
`Mayor
ATTEST:
City Clerk