Use federal housing grants to pay off $851,401 in old city loans
In Plain English
The city borrowed money in 1999 through a federal loan program to fund housing projects. Richmond now wants to pay off these loans early using unused federal Community Development Block Grant funds from 2011-2014. If approved, the city eliminates ongoing loan payments and frees up future budget capacity.
Auto-generated summary. Source: official agenda documents.
Votes
Close public hearing
7 to 0
Adopt Resolution No. 94-15
7 to 0
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