2020-08-25 Resolution 2020-29 Release CDBG Reuse Funds PassedRESOLUTION 2020 - 29
COUNCIL MEMBER RUMP INTRODUCED THE FOLLOWING RESOLUTION:
A RESOLUTION TO AUTHORIZE THE CITY OF BLAIR CITY COUNCIL TO RELEASE
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) RE -USE FUNDS TO PROVIDE
DIRECT FINANCIAL ASSISTANCE TO SAI PROPERTIES V, INC.
WHEREAS, the City of Blair, Nebraska received Community Development Block Grant
(CDBG) funds under the Housing and Community Development Act of 1974, and
WHEREAS, the City of Blair, Nebraska has collected receivable program income from
that CDBG award, and
WHEREAS, the City of Blair, Nebraska has entered into an agreement with the
Metropolitan Area Planning Agency (MAPA) to assume responsibility for implementing a Non -
Profit Development Organization (NDO) Revolving Loan Program for the City as a component of
the MAPA Foundation's overall Revolving Loan Fund portfolio, and
WHEREAS, the MAPA Foundation shall administer a program that is in accordance with
the City's Local CDBG Reuse Plan, and
WHEREAS, Sai Properties V, Inc. has applied for Revolving Loan Fund assistance from
the MAPA Foundation for the purpose of working capital, and
WHEREAS, the City of Blair is authorized to release CDBG program income proceeds to
the MAPA Foundation to supplement a loan package to Sai Properties V, Inc. in accordance with
the City's Local CDBG Reuse Plan and Agreement for NDO Service.
NOW THEREFORE, BE IT RESOLVED, the City of Blair City Council authorizes the
release of $180,000 in eligible CDBG program income proceeds to the MAPA Foundation.
BE IT FURTHER RESOLVED THAT, the MAPA Foundation, upon satisfactory
execution of the loan agreement between MAPA and Sai, shall release to said business a loan in
the amount of fifty -thousand dollars ($180,000) for the construction of a Holiday Inn Express.
COUNCILMEMBER RUMP MOVED THAT THE RESOLUTION BE ADOPTED AS READ,
WHICH SAID MOTION WAS SECONDED BY COUNCILMEMBER SHEPARD. UPON
ROLL CALL, COUNCILMEMBERS SHEPARD, STEWART, RUMP, WILLIS, WOLFF,
HALL, JENSEN & ANDERSEN VOTING "AYE", AND COUNCILMEMBERS NONE
VOTING "NAY', THE MAYOR DECLARED THE FOREGOING RESOLUTION PASSED
AND ADOPTED THIS 25TH DAY OF AUGUST, 2020.
CITY OF BLAIR, NEBRASKA
BY
RICHARD HANSEN, MAYOR
ATTEST:
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STATE OF NEBRASKA )
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WASHINGTON COUNTY )
BRENDA WHEELER, hereby certifies that she is the duly appointed, qualified, and acting City
Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution was duly passed
and adopted at a regular meeting of the Mayor and City Council of said City held on the 25th day
of August, 2020.
BRENDA WHEELER, CITY CLERK