The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #12-48
To consider increase in downtown Rehabilitation loan to Rod and Sara Hanssen
WHEREAS, The City of Monticello previously approved a downtown rehabilitation loan agreement with Rod and Sara Hanssen related to their property at 301 E. 1st Street, Monticello, Iowa, and
WHEREAS, Rod and Sara Hanssen requested an increase in the loan amount with an extended payback period, and
WHEREAS, After due consideration, the Council found that the loan program was not intended to fully fund renovations but rather to cover a portion of the costs and that based thereon the request for a longer term and increased loan amount should be denied.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby deny the request of Rod and Sara Hanssen for an increase in the previously approved loan amount of $10,000 and the previously approved term of five (5) years.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 19th day of March, 2012.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk