483.2005
RESOLUTION APPROVING HOUSING REHABILITATION LOAN IN CONNECTION WITH
THE TOWN OF QUEENSBURY HOUSING REHABILITATION
PROGRAM IN CONNECTION WITH THE NEW YORK STATE
DIVISION OF HOUSING AND COMMUNITY RENEWAL HOME PROGRAM
RESOLUTION NO.: 483, 2005
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
WHEREAS
, the Town of Queensbury has established a Housing Rehabilitation Loan
Program which provides a deferred loan to very low income eligible property owners for the
owners cost of rehabilitation, and
WHEREAS5073
, a single family property, Case File # has been determined to be
eligible for a loan through the Housing Rehabilitation Loan Program and the owner of the
property has requested such a loan, and
WHEREAS
, property rehabilitation specifications have been provided to three (3)
qualified contractors for bid, and
WHEREASTwenty one thousand
, the low bid cost to complete the work specified is
six hundred seventy five dollars and no cents ($21,675.00)
, and
WHEREASTwenty thousand dollars
, the property has been approved for a grant for
and no cents ($20,000.00)
through the Housing Rehabilitation Program, and
WHEREAS
, Shelter Planning & Development, Inc. has overseen the grant process and
has verified that it has been followed in this case and recommends approving this non-deferred
loan, and
WHEREAS
, the property owner will enter into a Loan Agreement with the Town of
Queensbury which will be filed with the Warren County Clerkâs Office with the principal balance
of the loan due in monthly payments of $27.92 for sixty (60) months,
NOW THEREFORE BE IT RESOLVED
that the Town of Queensbury approves a non-
5073 One thousand six
deferred rehabilitation loan for Case File #, in an amount not to exceed
hundred seventy five dollars and zero ($1,675.00)
authorizes and directs either the Town
Supervisor or Town of Queensbury Executive Director of Community Development to execute a
Non-Deferred Loan Agreement and take such other and further action as may be necessary to
effectuate the terms of this Resolution.
RD
Duly adopted this 3day of October, 2005, by the following vote:
AYES: Mr. Boor, Mr. Turner, Mr. Strough, Mr. Brewer, Mr. Stec :
NOES: None :
ABSENT:None