HomeMy WebLinkAbout1975 Resolution No. 034•
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RESOLUTION NO. ~'-/_ , SERIES OF 1975
A RESOLUlION AMLNOING llfAT A'1R EEMENT BETWEEN THE CITY
OF ENGLEWOOD, COLORAOO, A MUNICIPAL CORPORATION, ANO
Tit [ [NGL[WOOO llOU S ING AUTllORITY, A BODY CORPORATE AND
PO LITIC. RELATJNr. TO THE REVOLVIN~ REHABILITATION LOAN
FUND PROGRAM.
WHEREAS, the City of Englewood, a municipal
corporation. and the Englewood Housing Authority, a
body corporate and politic, entered into a written
Agreement under date of February 3, 1975; and
WHEREAS, the purpose of said Agreement was to
appropriate funds in conjunction with a grant to be
provided by the State Division of Housing to make monies
available for housing rehabilitation through the use of
loan programs; and
WHEREAS, the Authority through its personnel,
or the personnel of the City, with the approval of the
Ci ty Manager, or designated as responsible for the
execution of the Housing Rehabilitation Loan Program;
and
WHEREAS, the Chairman of said Program, in con-
junction with its Executive Director, have reported that
the asset requirement currently existing in the contract
being a Four Thousand ($4,000.00) Dollar limitation,
excluding household furnishings and personal effects, is
unrealistic and tends to disqualify those individuals
otherwise eligible to receive loans for housing rehab-
ilitation; and
WHEREAS, it has also been found that the provision
that disqualifies applicants, is the provision which pro-
hibits employable persons over the age of eighteen (18)
years of age residing in the household.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF ENGLEWOOD, THAT THE FOLLOWING PROVISIONS IN
TH AT CERTAI N AGREEMENT UNDER DATE OF FEBRUARY 3, 1975, WITH
THE ENr,LEWOOD HOUSING AUTHORITY ARE HEREBY AMENDED TO READ
AS FOLLOWS:
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Section 1.
Sub-paragraph II(b) of paragraph No. 6, page 3
of said Agreement, is amended to read as follows:
(b) Assets in the following amounts shall
entitle the applicant to the following loan amount if
all other provisions to this Agreement are met:
Section 2.
( 1 )
(2)
Assets $12,500 per person; maximum loan
entitlement $5,000
Assets $15,000 per couple; maximum loan
entitlement $5,000
Assets $15,000 per person; maximum loan
entitlement of 75% of the improvement
not to exceed $3,750
Assets $18,500 per couple; maximum loan
entitlement of 751. of the improvement
not to exceed $3,750
(3) Assets $17,500 per person; maximum loan
entitlement of $2,500 or 50% of the
improvement
Assets $21,000 per couple; maximum loan
entitlement of $2,500 or 50% of the
improvement
That section IV of paragraph No. 6, page 3 of
said Agreement, relating to other occupants is deleted.
Section 3.
That all other provisions of said Agreement not
heretofore amended or modified, are hereby confirmed and
ratified •
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ADOPTED ANO APPROVED this 16th day of June, 1975.
ATTEST:
I, William D. James, ex officio City Clerk-
Treasurer of the City of Englewood, Colorado, do hereby
certify that the above and foregoing is a true, accurate
and complete copy of the Resolution No. .3~ , Series of
1975.
~~~ exC>COi~ :=treasurer