Laserfiche WebLink
RESOLUTION NO. 5049 <br /> <br />BY: Messrs. Magnotto, McBride, Sinagra, <br /> Usher, Brockman, Chinnock, Graber <br /> <br /> A RESOLUTION approving participation by Lake Shore Associates, An <br />Ohio Limited Partnership, in tbe Federal Rent Supplement Program for property <br />located at 12506 Edgewater Drive, Lakewood, Ohio, known aa The Lake Shore <br />Towers. <br /> <br /> WHEREAS~ under the provzsions of Sectzon 10I of tile ]loasing and <br />Urban Development Act of 1965, the Secretary of llousing and Urban Development <br />is authorized to enter into contracts to make rent supplement payments to <br />certain qualified ho~sing owners on behalf of qnalified low-income families <br />who are elderly, handicapped, displaced, victims of natural disaster, or <br />occupants of substandard bousing; and <br /> <br /> WHEt~AS, the provisions of said Section 101 cannot be made available <br />to housing owners in certain localities nnless the governing body of tbe locality <br />has by Resolution given approval for such participation in the Federal Rent <br />Supplement Program, and <br /> <br /> WI[EREAS, [,ake Shore Associates undertook au extensive renovation <br />and rehabilitation program ~or the improvement of said Lake Shore Towers under <br />Section 236 of the. NatLonal llo~s~.ng Act of 1968 as the resul~ of which living <br />units were made available to 179 Lakewood families, principally retirees, who <br />have enjoyed comfortable living at modest rental, and <br /> <br /> WqEREAS~ L.qke Shore Associates has applied tO the Federal Housing <br />Ads~inistration seeking its approval of its request for a rental increase zn <br />accordance with FIIA procedores, and bas requested this Council for approval <br />of its participation as required by la~; now, therefore, <br /> <br />BE IT RESOLVED BY TIlE COUNCIL OF TIIE CITY OF LAIiEWOOD, STATE OF OHIO: <br /> <br />Section 1. That approval is hereby granted for the participation in the <br />Federal Rent Supplem~,nt Program by Lake Shore Assoc,.ares, an Ohio Limzted Partner- <br />s[~ip, for property located at 12506 Edgewate~- Drive, Lakewood, Ohf~ and known as <br />the Lake Shore ~I~owers, upon the condition that~itizens 0f~La~wood, O~{io be <br />given first priority to rental units. / ~ ~ ~ [ / <br /> <br /> ~' >resiaent <br /> Mayor <br /> <br /> <br />