Res 090-96 7/2/1996RESOLUTION NO. Cte-C(0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, AUTHORIZING CHANGES TO
THE CITY'S OWNER-OCCUPIED REHABILITATION
PROGRAM; FINDING AND DETERMINING THAT THE
MEETING AT WHICH THIS RESOLUTION WAS PASSED
WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls administers an Owner-Occupied
Rehabilitation Program for the benefit of low and moderate income homeowners
within the city limits; and,
WHEREAS, the economic conditions of building materials costs and program
regulations necessitate a change in the parameters of the program guidelines.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS THAT:
SECTION 1. The maximum amount of assistance is $25,000 provided in the form
of a deferred payment loan. The loan will be forgiven over a 10 year period, 10%
forgiven each anniversary date of the lien, as long as the homeowner remains the
owner occupant and maintains the unit to the best of his/her ability.
SECTION 2. The Housing and Community Development Administrator is
authorized to approve on a case by case basis up to 10% over the $25,000 cap for
unexpected change orders that affect the life, health, or safety of the occupant.
SECTION 3. The effective date of these changes is August 1, 1996.
SECTION 4. 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 2nd day of July, 1996.
A
MAYO •
ATTEST:
I Y CLERK