345.2006
RESOLUTION APPROVING HOUSING REHABILITATION LOAN IN
CONNECTION WITH TOWN OF QUEENSBURY HOUSING
REHABILITATION PROGRAM
RESOLUTION NO.:345, 2006
INTRODUCED BY: Mr. Richard Sanford
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Daniel Stec
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
WHEREAS, a single family property, Case File #5173, 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
WHEREAS, the low bid cost to complete the work specified is twenty two thousand five
hundred seventy five dollars ($22,575), and
,
WHEREAS the property has been approved for a grant for twenty thousand dollars
($20,000) through the Housing Rehabilitation Program, 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
deferred loan, and
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WHEREAS, the property owner will enter into a Loan Agreement with the Town of
Queensbury which will be recorded 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 Queensbury Town Board hereby approves a rehabilitation loan for
Case File #5173 in an amount not to exceed two thousand five hundred seventy five dollars
($2,575) and hereby authorizes and directs either the Town Supervisor or Executive Director of
Community Development to execute a Grant Award Agreement and take such other and further
action as may be necessary to effectuate the terms of this Resolution.
th
Duly adopted this 17 day of July, 2006, by the following vote:
AYES : Mr. Stec, Mr. Boor, Mr. Sanford, Mr. Strough, Mr. Brewer
NOES: None
ABSENT:None
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