348.2008
RESOLUTION APPROVING DEFERRED LOAN
FOR CASE #5586IN CONNECTION WITH TOWN OF QUEENSBURY
HOUSING REHABILITATION PROGRAM
RESOLUTION NO.: 348, 2008
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. John Strough
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 Affordable
Housing Corporation Affordable Home Ownership Development (AHOD) and the New York
State Office of Community Renewal 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 #5586has 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 was Twenty-eight thousand
six hundred ten dollars and no cents ($28,610.00), and
WHEREAS, Case File #5586, via Resolution No. 281,2008, has previously been
approved for a grant in the amount of Twenty-eight thousand six hundred ten dollars and no
cents ($28,610.00), and
,
WHEREASdue to the complicated nature of the rehabilitation work involved, further
work has been required to meet applicable State and local codes, and
,
WHEREAS the work required to complete this work is expected to be Three thousand
nine hundred and five dollars and no cents ($3,905.00), 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 these
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, 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 full upon the transfer of title of the property,
NOW, THEREFORE, BE IT
RESOLVED that the Town of Queensbury approves a rehabilitation loan for Case File
#5586, in an amount not to exceedThree thousand nine hundred and five dollars and no cents
($3,905.00),and
BE IT FURTHER,
2
RESOLVED that the Town Board authorizes and directs either the Town Supervisor or
the Senior Planner to execute the Loan Agreements and take such other and further action as may
be necessary to effectuate the terms of this Resolution.
th
Duly adopted this 14 day of July,2008, by the following vote:
AYES: Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Montesi
NOES: None
ABSENT: Mr. Metivier
3