Laserfiche WebLink
3 Project Name <br />Section 108 Loan Repayment <br />Target Area <br />City-Wide <br />Goals Supported <br />Community Development Needs Goals <br />Needs Addressed <br />Community Development Needs - Public Facilities <br />Funding <br />CDBG: $187,414 <br />Description <br />The City received $2.5 million HUD Section 108 Loan to complete the construction of the senior center. <br />With the completion of the facility, the City will now make repayments based on the repayment <br />schedule provided by HUD. The City pledges future CDBG funds to repay the $2.5 million loan over 20 <br />years. <br />Target Date <br />6/30/2020 <br />Estimate the number and type <br />Not applicable. <br />of families that will benefit <br />from the proposed activities <br />Location Description <br />Not applicable. <br />Planned Activities <br />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-year <br />repayment schedule. <br /> <br /> Annual Action Plan 25 <br />2019 <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br /> <br />