Section 106-337; Res. 129-05; Authorizing a letter of commitment of HOME funding for the Bethel Ridge housing development for senior citizens


Council Bill No.           R 129-05         


A RESOLUTION

authorizing a letter of commitment of HOME funding for the Bethel Ridge housing development for senior citizens.

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS FOLLOWS:

    SECTION 1.  The City Manager is hereby authorized to provide a letter of commitment for a $200,000 loan from HOME funds at 1% interest for 30-years for the construction of approximately 72 housing units for lower income senior citizens near the intersection of Bethel Street and Nifong Boulevard.  The commitment is contingent upon approval of the project by the Missouri Housing Development Commission.
    
    ADOPTED this 20th day of June, 2005.