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<br />APPLICANT: Town of Fowler <br /> <br />APPLICATION NO: 85-602 <br /> <br />OY~RALL SIAr~ RAI1Nu <br />X Low <br />Medium-Minus <br />, Medium <br />Medium-Plus <br />_ Hi gh <br /> <br />/ <br />1 <br />1 <br />1 <br />/ <br />1 <br />I <br /> <br />PROJECT TITLE: Fowler Housing Rehabilitation Project <br /> <br />AMOUNT REQUESTED: $150,000 <br />PROJECT TYPE: X SP <br />PROJECT DESCRIPTION: <br /> <br />MP <br /> <br />MJ <br /> <br />. <br /> <br />Rehabilitate 10 to 15 homes for low/moderate income families. <br /> <br /> PROPOSED PROJECT ACTIVITIES AND BUDGET <br /> IBrd.I!;OBGI I proJect Fundl ng 1 <br />Project INat.ISLIM/ Project / State I Other I <br />Activities 10bj.1 % / Costs 1 CDBG I Amount I Source I Status I <br /> I 1 I 1 I I I I <br />Housing Rehab /L/M /lOOSI$ 250,0001$ 150,0001 1 1 COl1ll1itted I <br />Grants I / 1 r I on as / <br /> I / 1 I needed / <br /> 1 / / 1 basis 1 <br />Housing Rehab Loansl 1 1 $ 100,OOOlFowler Bank II 1 <br /> 1 1 / 1 1 <br />Administration / 1 17,4801 l7,480lTown of / <br />. 1 I I I Fowl er 1 <br />I 1 1 I I <br /> I 1 1 I / <br /> / / I I / <br /> 1 1 1 / I <br /> 1 1 I 1 I <br /> 1 I 1 1 1 <br /> Total s 1$ 267,4801$ 150,0001$ 117,4801 <br /> <br />BACKGROUND INFORMATION: <br />a. 19t1O populat10n: 1,227 <br />b. # L/M Persons: 594 <br />c. % LIM Persons: 50.3 <br />d. Current Co. Unempl. %: 7.8% (Otero Co.) <br />e. 3 Year Co. Unempl. %: 9.4 (Otero Co.) <br />f. Assessed Valuation: $2,575,190 <br />g. Mill Levy/Overlapping: 16.5/0 <br />h. Bonded Indebtedness: 410,000 <br />1. Sales Tax %/Revenue: 2%/$40,000 <br /> <br />. <br /> <br />************************************************************************************** <br />PROJECT REVIEW FACTORS <br /> <br />L I M I H I I <br />X I I 1 I <br />I <br />100$ CDBG funds will benefit L/M. Bank will loan money at 8% <br />to over-income and to any moderate income that may qualify. <br />Approximately 25 L/M persons will benefit. <br /> <br />1. PROJECT IMPACT <br /> <br />a. Low/Mod Income <br />Benefit <br /> <br />b. Need and Extent Applicant states this project will address 100% of rehab. <br />Addressed needs. 38 units were rehabilitated during last 2 years. <br />(534 total hsg. units). Health and safety items were not a <br />priority in past rehab activities. <br /> <br />c. Consistency/ Applicant has CD Plan which cites rehab. and economic devel- <br />Coordination opment as major needs. <br /> <br />'\, <br />