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514.2007 RESOLUTION APPROVING GRANT AWARD AND A DEFERRED LOAN FOR CASE #5515 IN CONNECTION WITH THE TOWN OF QUEENSBURY HOUSING REHABILITATION PROGRAM RESOLUTION NO.: 514, 2007 INTRODUCED BY: Mr. Richard Sanford WHO MOVED ITS ADOPTION SECONDED BY: Mr. Tim Brewer WHEREAS, the Town of Queensbury has established a Housing Rehabilitation Program which provides grants to cover 100% of the cost of rehabilitation up to a maximum of $20,000, whichever is less, and WHEREAS, the Town has received grant funds from the New York State Governor’s Office for Small Cities Community Development Block Grant (CDBG) programs to cover eligible project costs, and WHEREAS, the Town of Queensbury has also 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 WHEREAS, a single family property Case File #5515 has been determined to be eligible for rehabilitation grant assistance and a loan through the Housing Rehabilitation Loan Program and the owner of the property has requested such assistance and loan, and WHEREAS, property rehabilitation specifications have been provided to three (3) qualified contractors for bid, and WHEREAS, the low bid cost to complete the work specified is Thirty-five thousand five hundred twenty-five dollars and no cents ($35,525.00), and WHEREAS, Shelter Planning & Development and Building & Codes staff recommend including an additional four thousand dollar ($4,000.00) contingency for possible additional costs, and WHEREAS, Shelter Planning & Development, Inc. has overseen the grant and loan process and has verified that it has been followed in this case and recommends approving this grants and loan, and WHEREAS, a lien will be filed against the property for the benefit of the Town for a period of five years from the completion of the rehabilitation, WHEREAS, the property owner will enter into a Loan Agreement with the Town of Queensbury which will be filed with the Warren County Clerk’s Office with the principal balance of the loan due in full upon the transfer of title of the property THEREFORE BE IT RESOLVED, that the Town of Queensbury approves a CDBG Grant in the amount not to exceed Thirty-four thousand five hundred twenty-five dollars and no cents ($34,525.00) for Case File #5515, Queensbury, New York; and BE IT FURTHER RESOLVED that the Town of Queensbury also approves a rehabilitation loan for Case File #5515, in an amount not to exceed five thousand dollars and no cents ($5,000.00) , and BE IT FURTHER RESOLVED that the Town Council authorizes and directs either the Town Supervisor or Town of Queensbury Executive Director of Community Development to execute Grant Award and Loan agreements and take such other and further action as may be necessary to effectuate the terms of this Resolution. rd Duly adopted this 3 day of December, 2007, by the following vote: AYES: Mr. Strough, Mr. Brewer, Mr. Stec NOES: Mr. Sanford ABSENT:None ABSTAIN:Mr. Boor