Laserfiche WebLink
' <br /> i <br /> 306 <br /> August 10,1988 <br /> - .' ,f: by the Community Development Block Grant Committee who oversees and <br /> recommends disharsement of federal block grant funds. The <br /> aPPropriation has also been approved by the CitY Ceoecll in.:offarY <br /> -' I',1'f,'''f Ed Peterson, Executive Director of Housing Hope, said Housing Hope <br /> li:`11.0' has used this commitment from the City to acquire additional private <br /> and public funding for this emergency hOusing proposel. These funds <br /> will provide the dofmpayment for a building to be used as a shelter <br /> for homeless families. <br /> Roll was called with all councilmembers voting yes except <br /> Councilmember Pope who voted no and Councilmember Lang. who was <br /> excused. <br /> motion carried. <br /> 98 <br /> 99 <br /> '';,VI '''''' Moved by Councilmember Morrow,seconded by Councilmember Overstreet, <br /> to authorize the acceptance of a Deed of Trust, providing a fourth <br /> ,. NI 11:,.;,,, lien position on the real property located at 35th and Norton. <br /> Housing Hope, a non-profit corporation established to provide <br /> housing for low and moderate income persons/families, will be the <br /> grantor on the Deed of Trust. <br /> The reason for the deed of trust is twofold: <br /> 4',I l',1110' 1. To make sure the use of the property is as stated by <br /> it 1111.1f the agency as a shelter for low income families <br /> s'si: '14.1 2. Housing Hope is a new organization and bas not done a <br /> ,'''IN ''4' Proje:t before,so it has no track record and the CitY <br /> wants some assurance that the project is succeasful. <br />--0'5i. f'10',Jif Moved by Councilmember Morrow,seconded by Councilmemher Stephenson <br /> to amend the Deed of Trust to a term of 10 years with 1/10th of the <br />'- ,f)fOfj principal to be forgiven each year. At the end'of Bile tenth year, <br /> the lien would be released. <br /> Roll was called on the amendment with all cooncilmembers voting yes <br /> except Councilmember Langus who was excused. <br /> Motion carried. <br /> ,11-1110 <br /> ii 1 1!,2 5. Roll was called on the motion as amended with all councilmembers <br /> voting yes except CouncilMember Pope who voted no and Conncilmember <br /> Longue who was excused. <br /> Motion carried. <br /> r0 1 11' <br />,,14 illlY <br /> 11,4 <br /> A'Ht, , <br /> , 1,1 <br />