Title
Resolution approving the terms & conditions for a Demonstration Façade Improvement Loan to Michael R. and Carolyn Hottinger under the Department of Housing and Urban Development Community Development Block Grant Program in an amount not to exceed $31,000.
Body
WHEREAS, Michael R. and Carolyn Hottinger, owners of the property located at 7730-32 W. National Ave. and has applied for a loan from the City of West Allis in the amount of up to Thirty-One Thousand Dollars ($31,000), under the Department of Housing and Urban Development Community Development Block Grant Program, for the purpose of improving the façade at 7730-32 W. National Ave.; and,
WHEREAS, the Department of Development has reviewed the loan request from Michael R. and Carolyn Hottinger, and has determined that the Project is eligible for funding under the Community Development Block Grant guidelines under the provision of removing slum & blight conditions; and,
WHEREAS, the Building Inspections & Neighborhood Services Department has cited the property for exterior code violations; and,
WHEREAS, the Department of Development has recommended approval of a Community Development Block Grant funded loan for the purpose of completing the Project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby approves the terms and conditions of the Loan in an amount of up to Thirty-One Thousand Dollars ($31,000) to Michael R. and Carolyn Hottinger in accordance with the terms and conditions outlined in the Commitment Letter attached as Exhibit A hereto and incorporated herein by reference.
BE IT FURTHER RESOLVED that the City Attorney is hereby authorized to prepare loan documents required by the aforesaid commitment.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such substantive changes, modifications, additions and deletions to and from the loan documents, including any and all attachments, exhibits, addendums and amendments, as may be necessary and proper to correct inconsistencies, eliminate ambiguity and otherwise clarify and supplement said provisions to preserve and maintain the general intent thereof, and to prepare and deliver such other and further documents as may be reasonably necessary to complete the transactions contemplated therein.
BE IT FURTHER RESOLVED that the proper City Officers, or any of their authorized deputies, as necessary, are authorized on behalf of the City to execute the aforesaid loan documents.
cc: Department of Development
Grants Accounting Specialist
DEV-R-674-7-3-12