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II. If the Department of Housing and Urban Development reduces this allocation, then each item will <br /> be reduced an equal percentage, including the Community Housing Improvement Program and <br /> Community Development Block Grant Administration. If a reduction is large enough to cause a <br /> burden, as determined by the staff, then a new budget will be returned to the City Council. <br /> III. The Mayor is hereby authorized to make formal application to the U.S. Department of Housing <br /> and Urban Development for funding assistance in accordance with this Resolution and the <br /> requirements of such application. <br /> IV. Any funding assistance so received in 1996 be used for the above projects. <br /> V. This Resolution will become part of the formal application to the U.S. Department of Housing and <br /> Urban Development. <br /> VI. All payments and income from the Housing Rehabilitation Program will be used for rehabilitation <br /> purposes. This is estimated at $200,000.00 for 1996. <br /> VII. The Housing Hope, Everett Housing Authority, South Everett Youth & Community Center, The <br /> Phoenix Center, and Cocoon Complex funding will be in the form of loans with details of terms <br /> and conditions to be returned to City Council in a contract. <br /> VIII. The required application sections and information are to be sent to the U.S. Department of <br /> Housing and Urban Development to complete all application re•uirements. <br /> ► `V <br /> Or/ i ' <br /> Councilman Introducing Resolution <br /> PASSED AND APPROVED BY CITY COUNCIL THISL3thDAY OF March , 1996. <br /> le <br /> L .- 1H..--,....ii/// <br /> Council 'resident <br />