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Lorain council accepts $100,000 donation to pursue HUD Section 108 loan program
Summary
Lorain City Council unanimously passed an ordinance authorizing the safety-service director to accept $100,000 in donated technical assistance from Enterprise Community Partners, funded by the Robert Wood Johnson Foundation, to pursue a HUD Section 108 loan program that could allow the city to borrow up to $6.3 million.
Lorain City Council on Aug. 12 unanimously approved an ordinance authorizing the city’s safety-service director to accept a $100,000 donation of technical assistance from Enterprise Community Partners to prepare an application to the U.S. Department of Housing and Urban Development (HUD) for a Section 108 loan guarantee program. The council also suspended rules to consider the ordinance on first reading and declared an emergency to allow prompt action.
The donation — provided to Enterprise Community Partners through funding from the Robert Wood Johnson Foundation — will pay for consultant work to prepare a Section 108 application. City staff said the Section 108 program is available because Lorain is a CDBG entitlement community and would allow the city to borrow up to five times its annual Community Development Block Grant (CDBG) allocation, approximately $6.3 million in this case. “I am very impressed. This is a service donated from Enterprise Community Partners sponsored…
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