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Annual Action Plan <br />2019 <br />28 <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br />6 Project Name Section 108 Loan Repayment <br />Target Area City-Wide <br />Goals Supported Community Development Needs Goals <br />Needs Addressed Community Development Needs - Public Facilities <br />Funding CDBG: $187,414 <br />Description The City received $2.5 million HUD Section 108 Loan to complete the construction of the senior <br />center. With the completion of the facility, the City will now make repayments based on the <br />repayment schedule provided by HUD. The City pledges future CDBG funds to repay the $2.5 million <br />loan over 20 years. <br />Target Date 6/30/2020 <br />Estimate the number and type of <br />families that will benefit from the <br />proposed activities <br />Not applicable. <br />Location Description Not applicable. <br />Planned Activities The City will use CDBG funds to repay its $2.5 million HUD Section 108 Loan used to complete the <br />construction of the City's senior center. The repayment amounts are in accordance with HUD's 20- <br />year repayment schedule. <br />