370.2005
RESOLUTION APPROVING HOUSING REHABILITATION LOAN IN
CONNECTION WITH TOWN OF QUEENSBURY HOUSING
REHABILITATION PROGRAM
RESOLUTION NO.: 370.2005
INTRODUCED BY: Mr. Theodore Turner
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. John Strough
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 #5075, 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 five thousand two
hundred thirteen dollars and forty nine cents ($25,213.49), and
,
WHEREAS the property has been approved for a grant for twenty thousand dollars
($20,000) through the Housing Rehabilitation Program, and
WHEREAS, the property owner has agreed to contribute two hundred thirteen dollars
and forty nine cents ($213.49) towards the cost of the project, and
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,
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
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 Queensbury Town Board hereby approves a rehabilitation loan for
Case File #5075 in an amount not to exceed five thousand dollars ($5,000) 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.
st
Duly adopted this 1 day of August, 2005, by the following vote:
AYES: Mr. Stec, Mr. Boor, Mr. Turner, Mr. Strough, Mr. Brewer
NOES: None
ABSENT: None
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