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Council adopts MURAL ordinance to implement moderate-income revolving loan program
Summary
On second reading the council adopted Ordinance 13-09 to implement the Moderate Income Revolving Loan (MURAL) program; staff said recent state guidance from OHCS clarifies process and does not require changes to the local ordinance.
The council adopted Ordinance 13-09 on second reading to implement the Moderate Income Revolving Loan (MURAL) program. Smith (staff) told the council the state has issued a new guidance document (third version) that "gives a lot of clarity to how the process should work and gives some backup to the risk to the city," and that the state guidance did not require changes to the local ordinance as written.
A council member moved to approve the ordinance and the motion was seconded; the council approved Ordinance 13-09 by unanimous voice vote. Staff said they would explore state assistance options for managing aspects of the program and continue work on the implementing agreements.
