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1C <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />24 CFR section 208(a)(2) because the Loan Program was made available only to those <br />residents whose income fell below eighty percent (80%) of the median income of San <br />Bernardino County and who either. (i) resided in a specific area of the City identified in <br />the Loan Program guidelines ('Target Area"); or (ii) were sixty-five (65) years or older; <br />or (iii) resided in the Mill Street Drainage Target Area. All participants were required to <br />meet the income criteria set forth in the Loan Program guidelines. <br />C. The Loan Program complied with the primary objective of the Act in <br />sections 101(c)(1) and (2) in that the City was able to carry out its objective of providing <br />and maintaining decent housing and a suitable living environment for persons and <br />families of low and moderate income by implementing the Loan Program to assist in the <br />City's specific objective of eliminating blight and preventing blighting influences and <br />property deterioration and other conditions detrimental to health, safety and public <br />welfare through code enforcement and rehabilitation_ <br />d. The Loan obtained by the Schultes was used in compliance with the Loan <br />Program and the rehabilitation of their primary residence was completed in accordance <br />with the Loan Program requirements. <br />2. Execution of Reconveyance. The City Council hereby approves of the <br />conversion of the Loan to a grant and directs the City Manager to execute the <br />Substitution of Trustee and Full Reconveyance to reconvey the Deed of Trust. <br />PASSED, APPROVED AND ADOPTED this 1 sgyi day of _ TANrTAgy , 2001. <br />ATTEST: <br />CAROLINA P. BARRERA, City Clerk <br />EVPQ9\DLH\623934 <br />3 <br />DEIRDRE H. BENNETT, Mayor <br />