HomeMy Public PortalAbout049-2003 _Grant-Indiana Housing Finance Authority_ORDINANCE NO. 49-2003
AN APPROPRIATION ORDINANCE AUTHORIZING THE SUBMITTAL,
ACCEPTANCE, AND APPROPRIATION OF A GRANT FROM
THE INDIANA HOUSING FINANCE AUTHORITY
WHEREAS, the City of Richmond recognizes the need to stimulate growth and to maintain
affordable housing to benefit its citizens; and
WHEREAS, the Housing and Community Development Act of 1974, as amended, allows the
Indiana Housing Finance Authority to award grants to local units of government to
meet the affordable housing and community development needs of low and
moderate income persons; and
WHEREAS, the Applicant has conducted or will conduct a public hearing prior to the
submission of an application to the Indiana Housing Finance Authority, to assess
the housing, public facilities, and economic needs of low and moderate income
residents.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond,
Indiana, as follows:
1. The Mayor is authorized to prepare and submit and application on or before August 1,
2003, for up to Three Hundred Thousand Dollars ($300,000.00) in Community Development
Block Grant funding to address conditions relating to owner occupied rehabilitation in Richmond,
Indiana, and to execute and administer resultant grant including requisite general administration
and housing activity management, contracts and agreements pursuant to regulations of the Indiana
Housing Finance Authority and the United States Department of Housing and Urban
Development..
2. Funds in the amount of Sixty Thousand Dollars ($60,000.00) shall be and are set aside
for this housing activity. Such commitment fulfills the minimum leverage requirement for the
CDBG request and is to be contingent upon receipt of CDBG funding from the Indiana Housing
Finance Authority. The anticipated source of this leverage is non-federal revenue from the City of
Richmond Revolving Loan Fund.
Passed and adopted this _23rd_ day of _June 2003, by the Common Council of the City
of Richmond, Indiana.
S/S Bing Welch President
(Bing Welch)
ATTEST: S/S Norma Schroeder City Clerk
(Norma Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this 24th day of _June
2003, at 9:00 a.m.
S/S Norma Schroeder , City Clerk
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(Norma Schroeder)
APPROVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this 24th day
of June , 2003, at 9:05 a.m.
S/S Shelley D. Miller , Mayor
(Shelley D. Miller)
ATTEST: S/S Norma Schroeder City Clerk
(Norma Schroeder)
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