122.97
RESOLUTION ADOPTING THE TOWN OF QUEENSBURY ECONOMIC
DEVELOPMENT REVOLVING LOAN PROGRAM
RESOLUTION NO. 122, 97
INTRODUCED BY: Mrs. Carol Pulver
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Fred Champagne
WHEREAS, the Town of Queensbury has received Federal grant
assistance from the U.S. Department of Housing and Urban
Development (HUD) through the Community Development Block Grant
(CDBG) program for the purpose of assisting businesses within the
Town of Queensbury in expanding or retaining employment
opportunities, and
WHEREAS, the Town has received and expects to continue to
receive CDBG income in the form of loan repayments and other
income, and
WHEREAS, by Resolution No. 363, 96, adopted on August 19,
1996, the Town Board of the Town of Queensbury authorized the Town
Supervisor to execute and enter into a Subgrantee Agreement between
the Town and the Queensbury Economic Development Corporation
(QEDC), and
WHEREAS, the Town, by Town Supervisor Fred Champagne, and
QEDC, by its President, Dean Beckos, executed and entered into the
aforementioned Subgrantee Agreement on the 20th day of August,
1996, and
WHEREAS, by the terms of the Subgrantee Agreement, QEDC is
responsible for the administration of the Town's CDBG funds,
including the revolving loan program, and
WHEREAS, Shelter Planning and Development Inc., at the request
of the Town, has prepared a manual pursuant to HUD guidelines for
the organization and implementation of the Town of Queensbury
Economic Development Revolving Loan Program, and
WHEREAS, a copy of the proposed Program Manual for the
Economic Development Revolving Loan Program has been presented at
this meeting and has been reviewed and is in a form approved by
Town Counsel,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
approves of and adopts the Program Manual for the Town of
Queensbury Economic Development Revolving Loan Program presented at
this meeting as setting forth the standards by which the Program
shall be administered by QEDC pursuant to the Subgrantee Agreement
with the Town.
Duly adopted this 17th day of March, 1997, by the following
vote:
AYES : Mrs. Monahan, Mr. Turner, Mrs. Goedert, Mrs. Pulver,
Mr. Champagne
NOES : None
ABSENT: None