The Council has determined the City must establish a low-interest loan program to assist in the eradication of blight in single-family homes throughout the City and to ensure preservation and restoration of historic single family homes in the Historic York District. This program shall be hereafter known as the "Incentive Loan Program" for reconversion of multi-family dwellings into single-family dwellings and for restoration and preservation of the historic single-family homes in the Historic York District. The Incentive Loan Program shall work to reduce and eliminate blight, lessen density of residential dwellings in the City, enhance the quality of life in neighborhoods and improve the safety, health and welfare of the City by providing financial assistance in the form of low-interest loans to owners of multi-family structures for their conversion back to single family structures and for restoration and preservation of historic single family homes in the Historic York District.
(Ord. 18-2017. Passed 7-18-17.)