BY COUNCILOR GILBERT:
RESOLVED, that the proper city officers are hereby authorized to enter into an amendment to Agreement No. 19629 with HRA, substantially in the form of that on file in the office of the city clerk as Public Document No. __________, increasing the amount payable thereunder from $830,000 to $880,000 and payable from Fund 262-020-5434, Project CD04CD-HOUS-1734, said additional funding being received from Neighborhood Housing Services (NHS) revolving loan fund program income and deposited into Fund 262-020-4211.
STATEMENT OF PURPOSE: The purpose of this resolution is to amend the Duluth property rehabilitation program project agreement with HRA to increase the amount payable thereunder by $50,000. The source of the additional funding is the NHS revolving loan fund program income. The funding will be used to rehabilitate a blighted multi-family property and result in 28 rehabilitated rental units in the Central Hillside neighborhood.