Ordinance No. 18718 - Laserfiche WebLink

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rs~-s Section 9. Section 2.412 0~ the Eugene Code, 1971, is hereby amended to provide: 2.412 Historic Landmark. -- Re~rolvin Fund Loans for Re air, Maintenance or Restar~tiQn. ~1~: owners of historic landmarks, their authorized agents or long--term lessees, may apply to the board for revoly- ing fund loans far the repair, maintenance, or restoration of the exterior of the historic landmark. ~2~. Applications for revolving fund loans shall in- clude the following: ~s.~ A written statement of the. precise nature of the proposed repair, maintenance, ar restoration, in- cluding cast estimates, plans, working drawings, and specifications; ~b~ written ev~,dence that the repair, maintenance, or:,restoration will materially contribute to the his- toric landmarkrs longevity, ar its cultural, aesthetic, educational, economic, ar historic significance; ~:c} written assurance that the proposed work will be completed d~ri.ng the fiscal year in which the council approves the application and that the historic landmark w%ll otherwise be permanently maintained; [d~. written assurance that the historic landmark will not be moved or demolished for five years follow- ing the date on which the council approves the lawn. ~e~. written assurance that real property taxes and other assessments have either been lawfully defer- red or will be paid in full during the year in which the council approves the loan; and ~~~ Such other %nformat,on as the board may re- qulre. ~~~.; The board shall annually conduct a public hearing on applications for revolving fund loans. 'the city shall mail notice of the public hearing to all applicants. within 30 days following completion of th.e hearing, the board shall send a report to the council containing its recommendations, including proposed ~.oan terms as appropriate. .. , ~4~. Upon consideration of the board's report and public comment recei~red in public hearing, the council shall determine whether to approve in full, approve .gin part, or re- ject each application for a re~rol,ving fund loan. The council may establish a maximum annual loan amount per application. In any e~rent, revolving fund loans to qualified applicants shall be made in whate~rer manner is established by the council. ~:5 }_ Prior to the disbursement of loan funds , the loan recipient shall execute a promissory note in favor of the city which states in addition to any other loan terms that all funds received from the city shall be immediately .repaid upon removal of historic landmark designation. The loan recipient shall pro- vide such security for performance of the note obligations as the council shall require. ~6~. Disbursement of the sum approved by the council shall be made by the finance officer upon submission of proof Qrdinance -- 6