HomeMy WebLinkAbout31775 / 82-12March 18, 1982
(CARRIED
INITIATED BY
LOST
f
�
LAID OVER
l/ 12 RESOLUTION
PLANNING AND RESEARCH DIVISION
WITHDRAWN )
WHEREAS, the State of Wisconsin, Department of Development, has announced
the a�aard of a grant in the sum of $25,000.00 to the City of Oshkosh from its
Housing Grant Fund to provide funding for rehabilitating housing units above
existir.g co�er.:ia' buildir.gs; an3
WHEREAS, the City will use such funding and in-kind contributions from
existing C.D.B.G. funding to rehabilitate an estimated eight apartments for
low and moderate income persons; and �
WHEREAS, in accepting the grant the City agrees to develop policies and
procedures and to establish an administrative structure necessary to operation-
alize a revolving loan fund to provide for continued recycling of the grant
funds,
NOW, THEREFORE, BE IT RESOLVED 6y the Common Council of the City of Oshkosh
that the attached policies and procedures for the operation of the grant fund are
hereby accepted.
e
�y�
SUB!(ITTED BY
�PPRO;iED /�L'W/V-�CIZ�u/t���
. ' Re� i 2,
3 -r �- i ��a.,
Commercial Residential Loan Fund
The Commercial Residential Loan Fund consists of a grant of $25,000.00
to the City of Oshkosh from the State of Wisconsin, Department of Develop-
ment for the purpose of rehabilitating rental units in downtown commercial
buildings. These funds will be loaned to eligible building owners, interest
free, as "deferred payment loans" for 257 of the total rehabilitation cost
with a maximum loan of $2,000.00 per apartment in the building. The City
of Oshkosh will hold a mortgage on the property and the loan must be re-
paid to the City when the property is sold thereby creating a"revolving"
loan fund. It is anticipated that 12 apartments can be added to the rental
market with these funds. It should be noted that this plan provides 3 to 1
leverage of private to program dollars.
Since the amount of the grant is relatively small, the funds will be
targeted in the central business district for maximum impact. The target
area is indicated on the attached map.
The Department of Community Development will administer the program
through the Oshkosh Aousing Authority. Pre-inspections, rehabilitation
write-ups, mortgages, final inspections, disbursement of funds and fiscal
records will be maintained by Housing Authority Personnel.
The Oshkosh Commercial Development Corporation (OCDC) will be respon-
sible for marketing the program.
�-- _ _ ___
� � , � ,
. �. � � �- ' _= J� � ��
r � � " ,i �
�HOUSTNG '�ft�jPF ( . �.
� ��
, TARGET Ai�EA ' �
II I I
_� !
\v��_ ._......__. i r
� _ ��..:.
,
�,�'i .o�.. ,
i,.,�.
i • . � r- , �—II . a _-. � � ..,
.�,.� � L:�,� ���.��r�� ; '
._ �-»�eo�� �J�I ;;� �I , ;, ,i. I
o e � ./ ._... �r7�n�]e�i � � ��I � I I
• o � � � A�U�.]� �Q`� C - �� 7� '—���i.I� �jp�� �� �I� � � a�
� � ,. ir' Il 11 ._•� L.�__ � I'� l;�J Ii' I �I'.
�L� CJC,C—�L� _��� �f,19 l: �L�L �',___
P �� �- _ ecwoocoo �+ pDG9 � f3Ci��('I
e
� � � . � � Q��O����[���0���� ��� � I� �o�� ��j�i ���
� ��"' �� °��tE`J..�..'��3���� Y i�f.�.�� °!; l�e',�T.Y
� ^-�� �� �"1� r���,�C.i.�3�.1� ����iJe`]Cl�]��(�, � '
� �� � i ,,�,_� � ��s ���ik I���i� ��, ��mn�� ��n������ ,,
a � � , �� i ��, � �j- ' , � ��p�1 1hu��� � ,L9 /
• � �� �--.. o ���iK`� � ,. ��' .�,u � iu L(�J�'� .�i.��� �
� _ - ' � �� ; , \'�-��,�� —�� ���; �s - �� r ,�;i�,o��, ...
_ li��� ;•, i3� E ,---�-� \(�� ��� _ :'�'!t.i;l'r ; j�"'i�4'� i���,�� •.:�
— F ��,� t �'�] �I �' �....
u= JG,� � L C_�O� t'� v � � p i� l.d. �� � ���' •
OO, 'C�L-ff; � � za::: i. :S' °iJ��'I,� L,:,� � .
� �
� � l !.� y� � . .� ; � C �� �� ,� e .
k�1� P� �
� i
� �—t � � _ :_ , :�� ,N �: , ��o�, .
_ _.. _ _ � ti-z. s e_ `? `�� + •
� ^f"�� _ 'v C �.l �.
__ � ' � � �
1 \ 7 � �
�S i�� � 14 �'Y.e.. _
!}� � �� �i�J � �� � I.I.i � �L .
i � .. �� � �
' . � i�`i['�j� � , �. ��
_ ��l .., < : �
,�.rJ-''i��- 1!° � �.`"' �i= ' r_-an � � :_; ,
� � � �o��__, � ' r-�_ , L`�. ^.. � � � `
, ,-r i ���j r�� � � _ .�' - zF--. ,
�,
� i .i �u@ � : ~�1r�� � ?
, �, i � � � � ;�
! ' `� �° �'W,.,� � . �. ,., ♦
v � i ��. ��-�c`�.,. � � � ��- �� i � � � ��
� �(���) i � i � s!� ��i '� �`��,�a ,� � ,_ � _ .= r � � f'
� , �. - - � �� `� �,.,�. , ,s � i
Ji
L�--� �.r ]L�� � �
�l— -- ;',� i���,iL���1� �.y��� .� �
� � �.
. ; ! -��� �, � .
� ,
� ��� � _�� � s
�� I � —� : � i�G�7C �,�'C����'.
` �� ,��� ���1 `��[]�7�(�� .
_ _.�. T .
� � � � � ������
�,,.
� �
. .
� � �—= - - .='r� ���r ..�SWKOSH.
i'� li : � `,.;"�, WISCONSIN
� TARGET BLOCKS FOR---_.—� a �/ 1
REH:'1BILITATION EFFORTS � � �I �� �
� , � i �
-� � � � �! �,-�_.
� - ��. -�:-; _- _�� .
i � �, i �
� � � nl L _ _.d �il , �
N
�
�
�' i
C
1
:<
b
C
�
N
N
.�
U
.�
�
O
w
�
w
0
b
�
0
+�
a
O
.�
�
7
r-I
O
N
N
a
W
O
�
O
.�{
�
�
S�
N
a
0
w
�
+�
H
0
w
m
�
H
�
�
N
U
O
S�
a
+�
�
�
z,
�
M
�
.�
N
�
O
x
�
a
0
�
d
0
H
�
O
.r{
�
O
�
N
m
v
¢
�
�
.�
N
N
N
U
_...... .. . _ -� _..�..
,; ;: ".,�_: ,
� '�
,
N �
�
� �
� � H
� �\\\
rI �
U
� 1 �J
U �
� .�
� U
'�