[Added 8-27-2013 by Ord. No. O-13-23[1]]
[1]
Editor's Note: This ordinance also provided for the repeal of former Art. XIII, Hagerstown Redevelopment Authority.
There is hereby established for the City of Hagerstown an authority known and designated as the "Hagerstown Loan Review Authority," hereinafter referred to for the purposes of this article as the "Authority." The Authority shall be considered the successor to the Hagerstown Redevelopment Authority ("HRA").
The Mayor shall appoint, with the consent of the Council, five members and one alternate to serve on the Authority for terms not to exceed three years each, or until a successor is duly appointed. The members and alternate serving on the HRA upon the effective date of the Authority shall continue to serve out their respective terms as members of the Authority.
A. 
It shall be the duty of the Authority to review loan applications and supporting documentation and approve or deny loan applications for the various loan programs administered by the City of Hagerstown. The Authority shall also exercise all powers specifically conferred upon it or its predecessor in the guidelines of the individual loan programs, including but not limited to the review of requests to modify, amend, reconsider, or appeal a prior decision of the Authority or its predecessor. The Authority shall make written determinations to City staff for all matters submitted to the Authority.
B. 
In addition to applying the standards, requirements, and guidelines applicable to the particular loan program(s) of the City, the Authority may promulgate rules, regulations, procedures, criteria and guidelines necessary for the proper and timely review of loan applications and to facilitate the exercise of its powers and duties and any necessary function directly related thereto.