Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the House Bill 335 topic
No spam. Unsubscribe anytime.
Finance committee backs 0% home‑repair microloan program and urges council to oppose House Bill 335
Summary
Councilmember Morton said the finance committee found a 0% microloan home repair program feasible with LISC and Warsaw Financial and unanimously recommended a resolution opposing House Bill 335, which the report said would eliminate 'inside millage' and threaten roughly $552,000 in annual property-tax revenue.
Councilmember Morton told the Committee of the Whole on July 10 that the finance committee has confirmed the feasibility of a 0%-interest microloan program to help low-income homeowners address deferred maintenance, and is coordinating with LISC and Warsaw Financial to finalize implementation details.
"This project is fully feasible in collaboration with Warsaw Financial and LISC," Morton said, adding that a meeting among village staff, LISC and Warsaw Financial is being scheduled to work through specifics. Morton described the program as a microloan product intended to remove affordability barriers to necessary home repairs.
Morton also urged the council to oppose House Bill 335, which he said would eliminate a funding category called "inside millage" and remove about $552,000 the village currently collects annually through that mechanism. "House bill 335 eliminates these levies, including around $85,000 that's allocated for our police and fire pensions," Morton said, and the finance committee unanimously agreed a resolution of opposition should be prepared.
Morton asked that council consider a resolution laying out the village's opposition and noted the committee will continue work on program logistics ahead of the finance meeting scheduled for Aug. 20.
No formal vote on the microloan program or the resolution opposing HB 335 occurred during the July 10 meeting; Morton asked staff to prepare the resolution and follow-up materials.
