HomeMy WebLinkAboutResolution 2775 Revising the Structure of the CDBG Loan Review Committee
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COMMISSION RESOLUTION NO. 2775
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, REVISING THE STRUCTURE OF THE
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) LOAN RE-
VIEW COMMITTEE, AND SUPERSEDING COMMISSION RESOLUTION
NO. 2756.
WHEREAS, the City of Bozeman has created a Community Development
Block Grant (CDBG) Loan Review Committee to aid in administration of the
Community Development Block Grant program and funds; and
WHEREAS, the City Commission has determined that the composition of
the committee must be changed to provide a broader base of representation.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City
of Bozeman, Montana;
Section 1
That the "CDBG Loan Review Committee" shall consist of seven (7) mem-
bers to be appointed by the City Commission. One member shall be a Planning
Staff member who shall serve as the CDBG Program Manager; and that person
shall serve in a non-voting ex officio status. The six voting members shall be
selected, one from each of the following areas and discipl ines; real estate
financing; the construction industry; real estate sales; either a low- and
moderate-income person or a person with a demonstrated commitment to the
needs of low- and moderate-income persons; the legal profession; and the City's
Finance Department.
Sect ion 2
The purpose of the CDBG Loan Review Committee shall be to examine all
applications for assistance under the "Deferred Payment Loan Program" and the
"Low Interest Loan Program", to solicit such information as it deems necessary
in order to adequately review said appl ications, to ensure that said applications
meet eligibility criteria as outlined in the program guidelines for the respective
loan programs, and to make funding recommendations to the City Commission.
Section 3
That each member of the CDBG Loan Review Committee shall serve for a
term of three years, with staggered terms to end on June 30 of each year.
The initial appointments to the restructured committee shall be two one-year
terms, two two-year terms and two three-year terms to provide for appropriate
staggering. The length of initial terms shall be determined by drawing of
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straws, or some similar method, at the first meeting of the committee following
appointments.
Section 4
For purposes of conducting business, a quorum shall consist of three
voting members.
PASSED AND ADOPTED by the City Commission of the City of Bozeman
at a regular meeting thereof held on the 26th day of December 1989.
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