Label
Councilwoman Williams
Title
Authorizing the Mayor to enter into a Grant Agreement with the Toledo Urban Federal Credit Union for the purpose of providing financial assistance in the acquisition of a credit union branch location at 3053 Monroe Street, Toledo, Ohio; authorizing the general fund expenditure of $75,000.00; making certain findings with respect thereto; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This Ordinance authorizes the Mayor to provide general fund assistance to the Toledo Urban Federal Credit Union in the amount of $75,000.00 to cover the cost in part of the credit union's acquisition of a Swayne Field branch location at 3053 Monroe Street, Toledo, Ohio. This financial assistance will aid in the prevention and elimination of slum and blight and will preserve and provide economic opportunities for the residents of the City of Toledo.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to enter into a Grant Agreement with the Toledo Urban Federal Credit Union for the purpose of providing $75,000.00 in assistance for the credit union's purchase and acquisition of a Swayne Field branch at 3053 Monroe Street, Toledo, Ohio.
SECTION 2. That the appropriation of $75,000.00 is authorized from the unappropriated balance of General Fund into Account Code 1001-10100-1112001STDSTD and the expenditure of the same is authorized.
SECTION 3. That the Director of Finance is authorized is draw a warrant or warrants against the above Account Code in the amount not to exceed $75,000.00 in payment of the above authorized obligations upon the proper voucher or vouchers.
SECTION 4. That Council finds and determines that it is in the best interest to appropriate and expend the amount identified in Sections 1 and 2 of this Ordinance and that the same will prevent slum and blight and will create and preserve job and economic opportunities for the residents of the City of Tol...
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