HomeMy WebLinkAboutAdmin Order 53-16-02-FADMINISTRATIVE ORDER NO. 53-16-02-F
of the
City Manager
AMENDMENT OF THE HISTORIC LOAN PROGRAM GUIDELINES
ADOPTED BY RESOLUTION NO. 4895.
The City Manager of the City of Eugene finds that:
A. Section 2.019 of the Eugene Code, 1971, ("EC") authorizes the City Manager to
adopt rules for administration of provisions of the Eugene Code.
B. On November 27, 2006, the Eugene City Council passed Resolution No. 4895
adopting amended Historic Loan Program (HLP) Guidelines (the Guidelines). Section 2 of
Resolution No. 4895 directed that future amendments to the Guidelines be effected by the City
Manager in accordance with the provisions of Section 2.019 of the Eugene Code, 1971
C. On February 24, 2016, Administrative Order No. 53-16-02 was issued proposing
to amend the Guidelines because the Oregon Bond 30 -year rate no longer exists and, therefore, the
Guidelines needed to be amended to indicate that the Oregon Bond 20 -year rate will be used
instead.
D. Notice of the proposed amendment was published in the Register Guard newspaper
on March 14, 15, 16, 17 and 18, 2016, and made available to any person who had requested such
notice. The Notice provided that written comments would be received for a period of 15 days
from the first publication date. No comments were received within the time or in the manner
provided in the Notice.
BASED ON the above findings, and the findings in Administrative Order No. 53-16-02,
the "Rate" paragraph under the "Program Terms" section of the Guidelines adopted by Resolution
No. 4895 is amended as follows:
Historic Loan Program Guidelines
PROGRAM TERMS
The following terms of the HLP are intended to provide additional flexibility over conventional
lending programs to and adapt to the changing needs of historic property owners. Therefore, the
City manager or his/her designee has the authority and discretion to alter, amend, waive, or
otherwise make an exception to any of the following terms:
Rate
The interest rate is fixed for the term of the loan at two points below the Oregon Bond
20 -year rate. The interest rate for each loan is set at the time of closing.
Dated and effective this 7tb� day of , 2016.
Jon R. Ruiz
City Manager
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