HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 94-12HRA RESOLUTION 94-12
RECOMMENDING ALLOCATION OF FISCAL YEAR 1995 COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS
WHEREAS, the City of Plymouth Housing and Redevelopment Authority anticipates receiving
a Community Development Block Grant funding allocation in the apr. sY1:111ate amount of
300,000 and anticipates 1995 program income of $20,000; and,
WHEREAS, on September 28, 1994, the Plymouth Housing and Redevelopment Authority
held a duly constituted public hearing to allow interested parties to express their opinion; a^-+.
WFIEREAS, the Housing and Redevelopment Authority of the City of Plymouth has reviewed
recommendations and has determined the following to be an appropriate use of Community
Development Block Grant funis in accordance with federal guidelines; and,
NOW, TH1 MEFORE, BE IT HEREBY RESOLVED BY THE HOUSING AND
REDEVELOMUNT AUTHORITY OF THE CITY OF PLYMOUTH, MDeMOTA, that
the Housing Authority recommends the Plymouth City Council allocate Fiscal Year 1995
Community Development Black Grant funds as follows:
Rehabilitation Grant/Loan Program
a. Administration of Activity $ 5,000
b. Grants/loans to homeowners 45.000
Subtotal 50,000
2. Child Care Assistance $ 15,000
3. First Time Homebuyer Loan & Development Program
a. Administration of Activity 28,000
b. Land Acquisition and Grants/Loans 172.000
Subtotal $200,000
4. Plymoeth Park and Recreation
r., Administration of Activity 100
a.
le-On-0one Assistance 4.900
Subtotal $ 5,000
5. Contingency Fund $ 10,000
6. Administration of Overall CDBG Program $ 40,000
Total $320,000
Further, tbat any additional funding received over $300,000, be allocated on a 50:50 basis to
the First Time Homebuyer Loan & Development Program and for the Contingency Fund.
Adopted by the Plymouth Housing and Redevelopment Authority on September 28, 1994.
staffmport/reslcdbg95)