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Economic&Urban Development Department Memorandum <br /> #OS-98 � <br /> June 1, 2005 <br /> TO: Honorable Mayor Osborne and City Council <br /> FROM: Steve Garma ty Manager <br /> Dane C. Bra , sistant City Manager of Economic and Urban Developmen <br /> Vickie Bucking am, Assistant Director of Economic and Urban Developme <br /> SUBJECT: Final conveyance of Homestead Property Located at 1529 N. Walnut Grove <br /> RECONIlVIENDATION: Staff recommends approval of the attached resolution authorizing the <br /> conveyance of title for the property located at 1529 N. Walnut Crrove. The requirements of the <br /> Urban Homestead Program are satisfied. <br /> BACKGROLTND: The Urban Homestead Program was a federally funded program which was <br /> established in Decatur in 1982 and continued through the early 90's. The vacant FHA and VA <br /> repossessed homes were purchased with the Section 810 funds. Section 312 Rehabilitation funds <br /> and Community Development Block Grant (CDBG) funds were used to rehabilitate the property. <br /> The program objective was to preserve the integrity of homeownership in Decatur's <br /> neighborhoods, help reduce the vast supply of vacant house, reduce the potential for <br /> neighborhood blighting, educate and encourage low-income households to adopt responsible <br /> credit and homeownership/neighborhood attitudes, provide safe, sanitary and affordable housing <br /> while preserving the existing housing stock. Title of property would be transferred when all <br /> conditions of the Urban Homestead Agreement was sa.tisfied. <br /> POTENTIAL OBJECTIONS: N/A <br /> INPUT FROM OTI�R SOURCES: Federal guidelines for the use of Section 810 funds, <br /> Section 312 funds, and CDBG funds. <br /> STAFF REFERENCE: Should the City Council have any questions, they may contact Vickie <br /> Buckingham, Assistant Director of Economic and Urban Development at 424-2777 or e-ma.il <br /> vbuckin�;ham(a�decaturnet.or�. <br /> BUDGET/TIlVIE IlVIPLICATIONS: None <br />