HomeMy WebLinkAboutResolution 409 A Resolution J!Ej
A RESOLUTION FAVORING
THE CREATION OF A STATE
NEIGHBORHOOD PRESERVATION LOAN FUMED
WHEREAS, a State Neighborhood Preservation Loan Fund, administered
by the Texas Department of Corrmnity Affiars, could be created to
prevent the deterioration of housing structures and remove blight
or the possibility of blight; and,
WHEREAS, this fund would enable low-income residents of our
State to secure financing that is not available through existing
public and private financial institutions; and,
�I WAS, the benefits of such a program would range from
removing slum areas to deterring an atmosphere which breeds crime
and violence in our commmities; and,
WHEREAS, in addition to recovering payments from the loans,
the local, state and federal governments would realize significant
indirect cost savings from the disproportionate amounts of money
currently being spent in these areas for health and social services,
police protection and the enforcement of minimlun building standards
laws;
NOW TMEFORE LET IT BE RESOLVED that the City Council of
the City of Fort Worth fully endorses the creation of a State
Neighborhood Preservation Loan Fund to provide loans for law in-
come residents of the State of Texas.
O
CITY OF FORT NIORTH