Town of Cheektowaga
Erie County, NY

Resolution
RES-2017-669

Community Development Housing Rehab Funds

Information

Department:Community DevelopmentSponsors:Councilmember Linda Hammer, Supervisor Diane Benczkowski
Category:Community DevelopmentFunctions:Community Development

Body

Community Development Housing Rehab Funds

WHEREAS, the Town receives annual Community Development Block Grant Funds from the Department of Housing and Urban Development (HUD), and

WHEREAS, the Town also receives program income on an annual basis from the repayment of loans of the Housing Rehabilitation Loan Program, and

WHEREAS, the funds allocated towards new Housing Rehabilitation Loans for Fiscal Year 2017 is derived from anticipated program income from the repayment of loans and loan payoffs under the Town’s HUD approved 2017 Annual Action Plan, and

WHEREAS, the anticipated collection of program income funds has not kept pace with the large amount of new Housing Rehabilitation Loans approved for program year 2017, and

WHEREAS, the Housing Rehabilitation Loan Program is in need of funds temporarily to pay contractors for completed work until such time as sufficient loan payments are collected to cover such costs, and

WHEREAS, the Community Development Department is therefore requesting that the Town pay such invoices for all work under currently under contract, and

WHEREAS, such loaned funds will be fully reimbursed to the Town when such loan payments are received, and

THEREFORE, be it resolved that the Town Board hereby authorize the accounting department to pay such project invoices for the Housing Rehabilitation Loan Program until sufficient funds are collected from previous loan payments.   

 

Meeting History

Nov 28, 2017 7:00 PM  Board Regular Meeting
RESULT:ADOPTED [UNANIMOUS]
MOVER:Linda Hammer, Councilmember
SECONDER:Diane Benczkowski, Supervisor
AYES:Diane Benczkowski, James P. Rogowski, Gerald Kaminski, Christine Adamczyk, Linda Hammer, Alice Magierski
EXCUSED:Timothy J. Meyers

Discussion