HomeMy WebLinkAbout~Master - Revisions to guidelines for facade improvements RESOLUTION NO. 04-413
RESOLUTION APPROVING REVISIONS TO THE PROGRAM GUIDELINES FOR
THE DOWNTOWN REVOLVING LOAN PROGRAM
FOR FACADE IMPROVEMENTS
FOR THE CITY OF AMES
WHEREAS,in 2001,the City of Ames enacted the Downtown Revolving Loan Program and
the Downtown Urban Revitalization Area; and,
WHEREAS, these efforts were intended to spark investment in rehabilitation of existing
structures and new construction downtown; and,
WHEREAS,the City initially invested$100,000 to fund the Revolving Loan Program; and,
WHEREAS, the Ames Chamber of Commerce, through the creation of the Main Street
Cultural District, has been vital in this effort; and,
WHEREAS,the Council committed$60,000 in support of the Main Street Cultural District,
$40,000 remains available in the Revolving Loan Fund; and,
WHEREAS,despite publicity by both City staff and the Chamber of Commerce,there have
been no loans granted since the Program's inception; and,
WHEREAS,staff has reviewed the Program Guidelines and suggested two changes in order
to streamline the process and generate more interest, i.e., (1) Eliminate the requirement that proof
of insurance be provided to the City as a condition of loan approval, and (2) Eliminate the
requirement that security be provided to the City as a condition of loan approval.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the revisions to the Program Guidelines, as listed above, for the Downtown Revolving Loan
Program for Facade Improvements are hereby approved.
ADOPTED THIS 14'h day of September, 2004.
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Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Goodman
Seconded by: Goodhue
Voting aye: Cross, Goodhue, Goodman, Vegge
Voting nay: None Absent: Mahayni, Wirth
Resolution declared adopted and signed by the Mayor this 14"day of September, 2004.