Res 055-97 4/1/1997RESOLUTION NO. 7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS APPROVING THE SUBMISSION OF AN APPLICATION TO THE
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) FOR DONATED
PROPERTY FOR THE CITY'S URBAN HOMESTEADING PROGRAM;
FINDING AND DETERMRQNG THAT THE MEETING AT WHICH THIS
RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED
BY LAW.
WHEREAS, The City of Wichita Falls has established a local Urban Homesteading Program with
CDBG and HOME funds from the U.S. Department of Housing and Urban Development; and,
WHEREAS, The City sells the property to a qualified low or moderate income family for $1.00 plus
the cost of a privately finance home improvement loan; and,
WHEREAS, The Urban Homesteading program promotes homeownership, stable property values
and neighborhood revitalization.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, THAT:
SECTION 1. The City Manager is authorized to seek donation of and execution of necessary
documentation for various properties suitable for rehabilitation from public entities such as the Federal
Deposit Insurance Corporation (FDIC).
SECTION 2. It is hereby officially found and determined that the meeting at which this resolution
was passed was open to the public as required by law.
PASSED AND APPROVED this the 1st day of April, 1997.
ATTEST:
Cfr"i"'CLERK
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