[Ord. No. 1988-114]
The City Council of the City of Bloomington
hereby establishes a special program to be known as the "Commercial
Rehabilitation Loan Program" for the purpose of allocating public
funds and encouraging the investment of private capital in a joint
public-private effort to restore and rehabilitate commercial buildings
located in the Central Bloomington Project Area by providing lower
interest loans to owners or tenants of such buildings, provided that
such rehabilitation meets minimum, acceptable commercial building
standards and all applicable Codes of the City.
[Ord. No. 1976-11]
The City Council is hereby empowered
and authorized to establish and amend by Resolution and thereby prescribe
from time to time such terms, conditions, rules and regulations as
it shall deem appropriate for the establishment and funding of the
revolving fund account, including the right to contract with private
organizations for the administration of said fund; and the approval
of loans from said fund, including the right to establish a loan committee
consisting of representatives of private enterprises to approve said
loans.
[Ord. No. 1976-10]
The City Council of the City of Bloomington
hereby establishes a Special Fund to be known as the "Rehabilitation
Loan Revolving Fund-Residential" for the purpose of allocating public
funds made available to the City through the U.S. Department of Housing
and Urban Development Community Development. Grants for low interest
loan to homeowners to rehabilitate residential buildings in the Community
Development Area of the City in order to correct all Code violations
in such residential buildings.
[Ord. No. 1976-10]
The City Council also hereby establishes
a rehabilitation grant program for the purpose of providing direct
grants to eligible recipients for rehabilitation of their residential
buildings.
[Ord. No. 1976-10]
The City Council is hereby empowered
and authorized to establish by Resolution and thereby shall prescribe
from time to time such terms, conditions, rules and regulations as
it shall deem appropriate for the establishment and funding of the
revolving loan fund amount and the administration of the loan amount.
