[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 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.