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PAGE TWO OF TWO <br />EDC RESOLUTION NO. 98 -EDC -25 <br />there will be corresponding improvements in the quality, livability and marketability of the City's <br />housing stock; <br />NOW, THEREFORE, BE IT RESOLVED that the Economic Development Commission hereby <br />recommends that the Economic Development Authority: <br />1. Approve the allocation of a total of $75,000 in tax increment funds to administer <br />the two components of the Home Improvement Loan Interest Subsidy Program; i.e., <br />$40,000.00 for the MHFA Home Improvement Loan Interest Subsidy component and <br />$35,000.00 for the Market Rate Home Improvement Loan Interest Subsidy component. <br />2. Approve the Program Guidelines for the MHFA Home Improvement Loan <br />Interest Subsidy component and the Market Rate Home Improvement Loan Interest <br />Subsidy component of the overall Home Improvement Loan Interest Subsidy Program. <br />Adopted this 25th day of June, 1998. <br />ATTEST: <br />Chair <br />(SEAL) ` k- - , (-)k� <br />City Administrator <br />