HomeMy WebLinkAboutC.054.93011_0363Bank
Rate
Fixed
Amort
Expires
Pre -pay
Orig.
Fees/
Total
Penalty
Fee
Closing
repayment
(Bank)
BB&T
4.13%
15 s.
360days
1%
00/o
3,500.00
$918,029.71
$921,529.71
Bank of
4.475%
15yrs.
360days
45 days
5%yrs 1-3
5,500.00
939,616.07
945,116.07
America
4%yrs 4-6
3%yrs 7-9
2%yrs10-12
I%yrs 13-
15
Community
4.595%
15yrs.
360days
9/15
1.5%yrs 1-5
3,500
1,250
942,578
947,328.00
Bank
First
3.27%
Yrs 1-5
360days
100%+$250
750
100%
963,916.61
964,667.00
Citizens
+ costs
70%pnme
Yrs 615
Calculated at
7.15%ceiling
3.271/o60 mos
7.15% 120 mos
SouthTnist
4.18%
15yrs fixed
360days
60days
None
0
Bank -no costs 920,669.31
920,699.31
Bank will pay for Env. Phase
1, if required
Wachovia
4.45%
15yrs
360days
8/18
0
Est
6,000
934,923.04
940,923.00
4.65%
360da
1%
1
7l
Request for Approval of an Authorizing Resolution for the FlexSol Community
Development Block Grant and Permission for the Chairman to sign the following
documents:
1. Environmental Reviews (community level)
2. NC Small Cities CDBG Program Application Summary
3. Local Economic Benefit for Low & Very Low Income Persons
4. Equal Employment Plan
5. Legally Binding Commitment
6. Certification of Ability
7. Anti -Displacement and Relocation Plan
8. Disclosure Report for Federally Assisted Projects/Small Cities CDBG Program
The approved resolution is as follows:
Iredell County
Authorizing Resolution
Community Development Block Grant
FlexSol Project
WHEREAS, various state and federal agencies provide funds to counties and
municipalities to meet the needs of local governments in financing the costs of community
development projects which provide needed services to low and moderate income persons; and
WHEREAS, the Division of Community Assistance is the State administrating agency
for the Community Development Block Grant Program and Commerce administers the
CDBGEconomic Development Program; and
WHEREAS, the Board of Commissioners of Iredell County has solicited and
received citizen input regarding the Community Development Block Grant Economic
Development Program which will provide 30 low and moderate income workers as part of the
grant.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of
Iredell County:
That Iredell County will substantially comply with all federal, state, and local laws, rules,
regulations and ordinances pertaining to the project and to federal and state grants pertaining
thereto.
That Steve D. Johnson, Chairman of the Board of Commissioners of Iredell County
and successors so titled is hereby authorized and directed to fumish such information as the
appropriate governmental agencies may request in connection with such applications for the
project; to make the assurances and certifications as contained above; and to execute such
other documents as may be required in connection with the construction of the project.
That this resolution, shall take effect immediately upon its adoption.
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