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HomeMy WebLinkAbout7687RESOLUTION NO. 7687 A RESOLUTION ENDORSING A SECTION 202 SUPPORTIVE HOUSING APPLICATION TO HOUSING AND URBAN DEVELOPMENT BY THE PUEBLO SENIOR CITIZEN RESOURCE DEVELOPMENT AND COORDINATION AGENCY, INC. AND UPON APPROVAL, RESERVING 1996 HOME FUNDS AUTHORIZED UNDER TITLE II OF THE CRANSTON- GONZALES NATIONAL AFFORDABLE HOUSING ACT WHEREAS, SRDA, by application dated July 24, 1995, has submitted an application to Housing and Urban Development for a Section 202 Supportive Housing for the Elderly Capital Advance and; WHEREAS, the City of Pueblo is sensitive to SRDA's request for financial assistance for efforts to create housing for the elderly and is firmly committed to provide the Sponsor or its designee with financial assistance: NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO COLORADO, that: SECTION 1. Upon approval of said application by Housing and Urban Development, the City Council of the City of Pueblo will reserve through the HOME Cash and Management Information (C /MI) System, $200,000 as a local contribution toward the Section 202 Housing Application. Funds will be committed for costs related to the construction of the facility and necessary to complete the housing project as more specifically itemized in the attached letter. In addition to HOME funds, $125,000 will be contributed by the City toward start up expenses including consulting fees, architectural and engineering fees, soil tests, site survey, drainage study, appraisal, environmental surveys and other special features mutually agreed to and subject to eligibility under the HOME regulations as dictated under Section 24, CFR 92 of Title II of the Cranston - Gonzales National Affordable Housing Act. INTRODUCED: August 14 , 1995 ATTEST: City Cler By Al Gurgle Councilperson APPROVED: President of the City Council