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impact future development in the area. Councilor De Forested moved to adopt, second by Councilor Haynes. The Motion carried 7-0. File 6667 d. Resolution approving amendments to the City of Beloit Housing Loan Procedure Manual and Program. Ms. Christensen explained that the City operates a number of Housing programs and the proposed changes stemmed from a HUD monitoring visit in May 2010. The changes would add specific language about the qualifications of contractors, the Environmental Review process, the Architectural and Lead Based Paint requirements, and the Distressed Property Loan Program. She noted that a question at the last meeting had been addressed and requirements to be current on income taxes and child support had been removed. She that was not a HUD requirement, but staff felt that contractors receiving money from the City should be current on property taxes and housing services convictions. Councilor Haynes moved to adopt, second by Councilor Johns. The Motion carried 7-0. File 7977 e. Resolution to adopt the Section 3 Plan to comply with 24 CFR, Part 135 of the United States Department of Housing and Urban Development Section 3. Ms. Christensen explained the concept of Section 3, how it related to the City's funding sources from the federal government, and that the application required that the Council approve the Plan. She said that the Plan would require that contractors receiving more than $100,000 from the City for a loan hire local, qualified, and low-income people first. Councilor Newnham moved to adopt, second by Councilor Johns. Councilor De Forest asked if this was the first time the City had a Section 3 Plan and Ms. Christensen said that the City had not traditionally had applicable projects in the past; however, there was a potential for contractors to receive loans from the City in excess of $100,000 through the NSP program. Motion carried 7-0. File 8385 f. Resolution declaring Intent to Reimburse Expenditures from Proceeds of Borrowing. Finance and Administrative Services Director Paul York explained that purpose of the Resolution was to comply with IRS regulations relating to tax exempt debt for projects that are scheduled for bond financing including projects from the 2010 and 2011 Capital Improvements Plan that were previously approved by the Council. Councilor Haynes moved to adopt, second by Councilor Van De Bogart. The Motion carried. 7-0. File 8406/8463 11. At 8:25 Councilor De Forest moved to adjourn the meeting, seconded by ouncilor Johns. The motion carried. L Re ecca S. Ho sema , City Clerk www.ci.beloit.wi.us Date Approved by Council: March 7, 2011 Page 3 of 3