HomeMy WebLinkAbout97-09• RESOLUTION NO. 97-9
Authorizing Application for a Community Development Block Grant
Community Improvement Grant
for
Microenterprise Loan Capitalization
in the
Pulaski Venture Fund
WHEREAS, the Virginia Department of Housing and Community Development is
soliciting applications for Community Development Block Grant Community
Improvement Grants; and
WHEREAS, in an effort to expand the Town's economic base and improve the
physical and social conditions of its low- and moderate-income citizens, the
Department of Economic Development has prepared an application; and
WHEREAS, the Pulaski Venture Fund is projected to help 51 individuals in the first
two years that will all be low- and moderate-income citizens; and
WHEREAS, the Town's application includes matching funds of $5,000 from the
Department of Economic Development's budget and $300,000 from local banks;
BE IT RESOLVED, that pursuant to two public hearings, the Town Council of the
• Town of Pulaski, Virginia, sitting in regular session on March 4, 1997, that it
authorizes the submission of an application seeking a Community Development
Block Grant Community Improvement Grant for $160,000 for Microenterprise Loan
Capitalization, Training and Staff far the Pulaski Venture Fund and that Town
Manager is authorized to submit all information necessary to apply for the planning
grant and to meet other program administrative and reporting requirements.
This Resolution is effective upon adoption, and is adopted this 4th day of March,
1997, by the recorded vote of the Tcjwn Council as follows:
Joseph L. Weddle Aye W. Edgar Hale Aye
Lane R. Penn Aye James M. Neblett Aye
Bettye H. Steger Aye Pauline G. Mitchell Aye
Charles W. Stewart Aye
TO F P KI VIRG NIA
By: _
ohn A. jo ton, Mayor
Attest:
_~~ `t .
• Ruth A. Harrell, Clerk of Council