HomeMy WebLinkAboutOrd 5239 04/02/2002ORDINANCE NO. 5239
AN ORDINANCE AMENDING ORDINANCE NO. 3147 FOR THE
ESTABLISHMENT OF A HOUSING REHABILITATION LOAN PROGRAM AND
STANDARDS AND PROCEDURES IN CONNECTION THEREWITH IN THE
VILLAGE OF MOUNT PROSPECT, ILLINOIS
Passed and approved by
the President and Board of Trustees
the 2ND day of April, 2002
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
3RD day of April, 2002
vwl
03/12/02
ORDINANCE NO. 5239
AN ORDINANCE AMENDING ORDINANCE NO. 3147
FOR THE ESTABLISHMENT OF A HOUSING REHABILITATION LOAN PROGRAM
AND STANDARDS AND PROCEDURES IN CONNECTION THEREWITH
IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS
WHEREAS, on October 6, 1981, the Village of Mount Prospect adopted Ordinance
No. 3147, for the establishment ora Housing Rehabilitation Loan Program; and
WHEREAS, the Corporate Authorities of the Village of Mount Prospect deem it necessary to
amend said Ordinance No. 3147, which shall be and read as follows:
"WHEREAS, Section 6(a) of Article VII of the 1970 Constitution of Illinois provides that any
municipality which has a population of 25,000 is a home rule unit and may exercise any power and
perform any function pertaining to its government and affairs including, but not limited to, the power
to tax and to incur debts; and
WHEREAS, the Village of Mount Prospect, Cook County, Illinois ("the Village'~ has a population in
excess of 25,000 and is therefore a home rule unit and may exercise any of the aforementioned
powers to perform any of the aforementioned functions pertaining to its government and affairs;
and
WHEREAS, the United States Department of Housing and Urban Development ("HUD'~ has
available Federal funds under the Community Development Block Grant ("CDBG'} Program for
use in municipalities in establishing and administering direct rehabilitation loans or grants to
property owners to restore and rehabilitate deteriorated propertywithin the municipality;, and
WHEREAS, it has been deemed necessary and in the best interest of the Village of
Mount Prospect to establish a Housing Rehabilitation Loan Program ("Program") within the Village
using Federal grant funds from the CDBG Grant Program in order to pro,de for and to promote
the public health, safety and welfare, to encourage the rehabilitation of deteriorating dwelling
structures within the community, to promote the elimination of urban blight, and to preserve and
increase residential propertyvalues within the Village; and
WHEREAS, it is the determination of this Village that such financial assistance be made available
in the form of deferred payment, non-interest bearing loans, to Iow and moderate income
homeowners to effectuate the rehabilitation of dwelling units within the Village in accordance with
the standards and procedures hereinafter set forth; and
WHEREAS, it is further proposed, bythis Village, that such Housing Rehabilitation Loan Program
be administered by the Village; and
HEREAS, this Village proposes to make application for CDBG Grant funds occasionally for
funding such Housing Rehabilitation Loan Program as hereinalter provided.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT OF THE BOARD OF TRUSTEES
IN THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, AS FOLLOWS:
SECTION ONE: That the Program guidelines shall be amended to relect the following:
A. The maximum loan amount shall be increased from $15,000 to $25,000;
B. The requirement that the loans shall be repaid after 20 years is hereby deferred
until April 2, 2004 or until such time that the Village further amends this Qrdinance,
whichever occurs first.
SECTION TWO: This Ordinance shall be in full force and effect from and after its passage,
approval and publication in pamphlet form in the manner provided by law."
AYES: Lohrstorfer, Skowron, Wilks, Zadel
NAYS: None
ABSENT: Corcoran, Hoefert
PASSED and APPROVED this 2nd dayof April, 2002.
ATTES~
Village P/-""'~ Ge'r'-ald L~ FarleyI 'residen ~'
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