ORDINANCE NO. __________, SERIES 2014
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AN ORDINANCE APPROVING A FORGIVABLE LOAN TO LOUISVILLE URBAN LEAGUE ("LUL") FOR REHABILITATION PURSUANT TO ORDINANCE NO. 54, SERIES 2009.
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Sponsored By: Councilwoman Marianne Butler
WHEREAS, The Louisville Urban League seeks to replace and upgrade its heating, ventilation, and air conditioning at its headquarters facility (the "Project") pursuant to Ordinance No. 106, Series 2013; and
WHEREAS, Louisville Metro Government (Metro), by and through its Department of Community Services and Revitalization ("CSR"), Community Revitalization Division, has agreed to make available a $248,000 conditional, forgivable loan of Community Development Block Grant ("CDBG") funds to assist in the needed rehabilitation; and
WHEREAS, Louisville Metro Government has determined that the public facility improvements to the Louisville Urban League headquarters will allow the Louisville Urban League to continue to manage its homeowner and rental counseling and other affordable housing activities and further the goals of the Community Revitalization Division, in regards to the creation and preservation of housing opportunities for low and moderate income persons in the Louisville Metro area; and
WHEREAS, Louisville Metro Government wishes to use a portion of its CDBG funds to provide a forgivable loan in the amount of $248,000 to Louisville Urban League to pay a portion of the costs of the Project; and
WHEREAS, the council has determined that making the forgivable loan to Louisville Urban League is in furtherance of the public purposes of Louisville Metro.
NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:
SECTION I: That the conditional forgivable loan in the amount of $248,000 to be made to LOUISVILLE URBAN LEAGUE is approved pursuant to Ordinance No. 54, Series 2009, for the purposes described in the Whereas clauses above.
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