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Item No. 14 <br />memorandum <br />TO: City Council <br />FROM: John Godwin, City Manager <br />SUBJECT: REPAIR LOAN PROGRAM <br />DATE: June 20, 2016 <br />BACKGROUND: The city has been working in partnership with four local banks for over two <br />years to help provide low interest loans for property owners with deteriorating homes, and the <br />council recently re- affirmed its desire to continue the program for another year. <br />STATUS OF ISSUE: Our bank partners have all also indicated an interest in expanding the <br />program to try to address deteriorating non - residential buildings in downtown. Loans would be <br />based on specific criteria described in the attachments that have been reviewed and approved by <br />all participating parties. <br />BUDGET: None of the previously allocated funds have been expended, and so remain available. <br />RECOMMENDATION: Expand the loan program to include downtown buildings as described <br />in the attached guidelines and application. <br />