HomeMy WebLinkAboutReso 1990-292 - Approving an amendment to the rehabilitation loan Irk
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RESOLUTION NO.909�
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING AN
AMENDMENT TO THE REHABILITATION LOAN POLICY ADOPTED BY CITY COUNCIL
RESOLUTION NO. 75-86.
WHEREAS, the City of Redding has adopted a Rehabilitation Loan
Policy by City Council Resolution No. 75-86 and amended it by Resolution Nos.
76-36, 77-135, 77-189, 78-223, 78-235, 78-240, 79-46, 79-106, 79-115, 79-243,
80-96, 80-240, 83-52, 84-79, 84-233, 85-32, 86-134, 88-19, 89-272 and 90-251;
and
WHEREAS, the City Council deems it to be in the best interest of the
citizens of the City of Redding that the Rehabilitation Loan Policy be further
amended as set forth in Exhibit "A" attached hereto; and
WHEREAS, it has been determined that this matter is categorically
exempt from the provisions of CEQA.
NOW, THEREFORE, BE IT RESOLVED that the amendments to the Rehabilita-
tion Loan Policy attached hereto as Exhibit "A" are hereby approved and
adopted.
I HEREBY CERTIFY that the foregoing resolution was introduced and
read at a regular meeting of the City Council of the City of Redding on the
19th day of June, 1990, and was duly adopted at said meeting by the following
vote:
AYES: COUNCIL MEMBERS: Arness, Dahl , Fulton, Moss, Buffum
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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ATTEST:
I ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
' k ,DALL A. HAYS, Cit Attorney
EXHIBIT "A"
Amendment No. 21 to City of Redding Rehabilitation Loan Policy
Section 4 - DESCRIPTION OF LOAN PROGRAM
1 (Part A Amortized Loans, sub-section 6. Terms and Conditions)
Change: a. Homeowner: A rehabilitation loan shall be amortized in
not more than X0 15 years and shall bear interest at one
of the following rates:
Section 5 - ELIGIBLE COSTS
(Part B Rehabilitation Objectives)
Add: 17. The repair/replacement or new installation of
free-standing stove appliances, garbage disposals and
dishwashers may be provided if compliance with HUD
regulations is met.
Section 6 - INELIGIBLE COSTS
Amend E: Appliances $ Ø / $ / U / y/Ott $0 including
refrigerators.
Section 9 - GENERAL CONDITIONS
Amend: Maximum Term. The maximum terms for a rehabilitation loan
shall be yOyi fifteen years.
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