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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> Memo No. 08-148 <br /> November 12, 2008 <br /> TO: Honorable Mayor Michael T. Carrigan and City Council <br /> FROM: Ryan P. McCrady, City Manager ��"' <br /> Greg C. Crowe, Assistant City Manager of onomic & Urban Developme� <br /> Wendy Morthland, Corporation Counsel <br /> SUBJECT: Amended Intergovernmental Agreement with IHDA for a Mortgage Credit <br /> Certificate Program <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached resolution <br /> authorizing the City to enter into an Intergovernmental Agreement with IHDA to use our <br /> previously designated volume cap for 2004 for a Mortgage Credit Certificate Program. <br /> BACKGROUND: City Council approved the original Intergovernmental Agreement with <br /> IHDA on November 2, 2008. The amended Agreement includes the stipulation that the <br /> Certificates would be targeted for the first 6 months for allocation to qualifying veterans and <br /> persons on active military duty residing in the City of Decatur. The Certificates would be <br /> available State wide for the final6 months of 2009. <br /> POTENTIAL OBJECTIONS: N/A <br /> INPUT FROM OTHER SOURCES: N/A <br /> STAFF REFERENCES: If Council members have questions they may contact Greg Crowe <br /> 424-2727, or at gcrowe@decaturil.gov <br /> BUDGET/TIME IMPLICATIONS: N/A <br />