HomeMy WebLinkAboutCity Council Resolution 1999-202RESOLUTION NO. 99-202
APPROVING REALLOCATION OF $25,000 ($8,291.57 FROM 1997 AND $16,708.43 FROM
1998) IN COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDS FROM THE
FIRST TIME HOMEBUYER PROGRAM TO THE HOUSING REHABILITATION
PROGRAM
WHEREAS, current demand for the Housing Rehabilitation Loan Program exceeds the current funds
available; and
WHEREAS, unexpended funds are available from the 1997 and 1998 CDBG allocation for the First Time
Homebuyer Program; and
WHEREAS, on April 15, 1999, the Plymouth Housing and Redevelopment Authority (HRA) held a regular
meeting to discuss the proposed reallocation of certain unexpended CDBG funds and recommends the
reallocation to the City Council;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that it hereby approves the reallocation of $25,000 ($8,291.57 from 1997 funds
and $16,708.43 from 1998 funds) in unexpended account balances from the First Time Homebuyer Program,
to the Housing Rehabilitation Loan program activity, and directs staff to notify the U. S. Department of
Housing and Urban Development of the reallocation of funds.
Adopted by the City Council on May 4, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-202_59397VCCR 1999-202.doc