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. <br /> 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) <br /> City Administrator <br />