title
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A CDBG LOAN SERVICING AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND CENTENNIAL BANK, TO PROVIDE SERVICING OF COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) LOANS; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
staffcontact
(Staff Contact: Alex Goldstein)
summary
Summary Explanation/Background:
The Office of Housing and Urban Improvement (OHUI) is requesting a Resolution approving and authorizing the proper City officials to Execute a CDBG Loan Servicing Agreement Between the City of Pompano Beach and Centennial Bank, to provide servicing of CDBG Loans.
The City’s current CDBG Loan Servicing Agreement with Stonegate Bank (now Centennial Bank) is set to expire in December 2021. The expiring agreement has a term of five (5) years from the date of execution at which time it shall terminate.
Origin of request for this action: OHUI
Fiscal impact and source of funding: N/A
pagebreak1
strategicplan_emblem_field
pagebr
strategicplan_description_field