HomeMy WebLinkAbout1980-122-10/07/1980-AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH HOME FEDERAL SAVINGS FOR THE PURPOSE OF RESOLUTION 80-122
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING A RESOLUTION AUTHORIZING THE CITY MANAGER
OF THE CITY OF FORT COLLINS TO ENTER INTO AN AGREEMENT
WITH HOME FEDERAL SAVINGS FOR THE PURPOSE OF
HOUSING REHABILITATION
WHEREAS, the City of Fort Collins has approved the use of 1979 and
1980 Community Development Block Grant Funds for the purpose of funding
Housing Rehabilitation Projects, and
WHEREAS, Stanley Klemetson, owner of the property at 234 North Grant
Street, Fort Collins, Colorado, desires to remodel the structure located on
said property into six moderately priced condominiums, and
WHEREAS, the property located at 234 North Grant Street, Fort Collins,
Colorado, is located in a Community Development Block Grant strategy area
known as the "Holy Family Neighborhood", and
WHEREAS, the amount allocated from the City's 1979 and 1980 Community
Development Block Grants for this particular project is One Hundred Thou-
sand Dollars ($100,000 00) and was approved by the City Council on October
79 1980, and
WHEREAS, Home Federal Savings and Loan Association of the Rockies
desires to become involved in this particular rehabilitation project by
providing a construction loan to Stanley Klemetson for the purpose of
remodeling the structure located at 234 North Grant Street, Fort Collins,
Colorado, and
WHEREAS, the City desires to enter into an agreement with How Federal
for the purpose of providing collateral to assist in the financing for the
remodeling of the subject property
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager of the City of Fort Collins be, and he hereby
is, authorized to enter into an agreement with Home Federal Savings and
Loan Association of the Rockies for the purpose of providing financing for
a rehabilitation project pursuant to a Community Development Rehabilitation
Project
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 7th day of Ocgy-
�Sti-_CTP,Nl Mayor
ATTEST
City Clerk