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WILLIAM KOOLAGE, OF 26TH AVENUE, STATED THAT HE FEELS THE HOUSING FINANCE AUTHORITY IS ONE OF THE TOOLS THE COUNTY NEEDS TO USE TO IMPROVE THE HOUSING SITUATION WITHIN THE COUNTY, AND HE WOULD URGE ITS ADOPTION. HE POINTED OUT THAT THERE IS A GREAT DEAL OF BUILDING GOING ON IN THE NORTH OF THE COUNTY WHERE BOTH LAND AND BUILDING COSTS ARE CONSIDERABLY CHEAPER; THE COUNTY IS IN THE PROCESS OF DEVELOPING WATER AND SEWER IN CERTAIN AREAS, AND HE FELT THE HOUSING FINANCE AUTHORITY WILL SERVE TO FILL A NEED. COMMISSIONER LYONS ASKED IF 'MR. THOMPSON HAD ANY COMMENT ON WHETHER HE SEES ANY PROBLEM WITH AVAILABILITY OF MONEY FOR THE MARKET, MR. THOMPSON STATED THAT ANY TIME YOU HAVE A PROGRAM LIKE THIS, YOU HAVE MONEY GOING OUT OF THE BANKS AND NATURALLY -THEY DON'T LIKE TO SEE MONEY GO OUT, BUT HE FELT IF THIS IS SET UP AND ADMINISTERED PROPERLY IT CAN PROVIDE HOUSING FOR THE SERVICE PEOPLE WHOM WE NEED IN THIS AREA. CHAIRMAN WODTKE NOTED THAT IN ESSENCE, THIS PROGRAM WOULD ALLOW THE BANKING INSTITUTIONS TO MAKE ADDITIONAL'LOANS TO PEOPLE WHO COULD,NOT HAVE QUALIFIED BEFORE. MR. THOMPSON AGREED, AND REITERATED THAT HE FELT IF THIS PROGRAM IS OPERATED PROPERLY, IT CAN BE A BENEFIT TO THE COUNTY. ON MOTION BY COMMISSIONER LYONS, SECONDED BY COMMISSIONER SIEBERT, THE BOARD UNANIMOUSLY CLOSED THE PUBLIC HEARING. ' COMMISSIONER LOY FELT THAT, IN VIEW OF THE NEED THAT DOES EXIST IN THIS COUNTY, THE BOARD IS TAKING A VERY WISE STEP IN TRYING TO ACCOMMODATE A GROUP OF PEOPLE WHO WILL BE QUALIFIED TO USE THIS PROGRAM. SHE BELIEVED IT WILL HELP OUR HOUSING PROBLEM. ON MOTION BY COMMISSLONER Loy, SECONDED BY COMMISSIONER LYONS, THE BOARD UNANIMOUSLY ADOPTED ORDINANCE 79-17 CREATING A HOUSING FINANCE AUTHORITY. DISCUSSION FOLLOWED AS TO APPOINTING THE FIVE MEMBER BOARD AND HIRING A BONDING HOUSE, AND COMMISSIONER Loy SUGGESTED THAT THE COORDINATOR AND ATTORNEY COLLINS SUPPLY THE BOARD WITH AN OUTLINE TO BE -TAKEN UP AT THE NEXT MEETING. 31 JUN 61979 BOOK - 40 PACE 406