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A <br /> Resolution No. rid 0 <br /> A resolution authorizing the Mayor to sign an agreement between the <br /> City and Everett's participating lending institutions to allow continuance <br /> of loan assistance and housing rehabilitation services under the Community <br /> Housing Improvement Program (CHIP) . <br /> WHEREAS, the City has adopted a plan for housing rehabilitation and <br /> community improvement in designated areas of the City, and <br /> WHEREAS, the City and participating lenders desire to continue providing <br /> housing rehabilitation services and loan assistance to qualified property <br /> owners within designated areas of the City; and <br /> WHEREAS, the City is committing a portion of Block Grant funds to provide <br /> and to support the provision of loans by lending institutions of the City to <br /> resident property owners for rehabilitation and improvement of residential <br /> properties; and <br /> WHEREAS, the participating lenders agree to participate in the Community <br /> Housing Improvement Program through the approval, processing and collection of <br /> home improvement or housing rehabilitation loans to resident property owners <br /> in the CHIP Target Areas; and <br /> WHEREAS, the City and the participating lenders recognize that the purpose <br /> of this program is to provide assistance to low-income homeowners who would not <br /> quality for conventional home improvement/rehabilitation loans; and <br /> WHEREAS, the previous agreement executed in December 1978 between the City <br /> and participating lending institutions expires December 31, 1979; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT <br /> THAT <br /> The Mayor is hereby authorized to sign an agreement between the City and <br /> the City of Everett's participating lenders to allow continuance of loan <br /> assistance and housing rehabilitation services under the Community Housing <br /> Improvement Program. <br /> )-~' 7�'��/, om GG� j <br /> Councilman Int uci g Resolution <br /> Passed and approved this c(2 day of pL>, 1979. <br /> Afor <br /> noun President , <br />