Before tonight’s City Council meeting begins, the council will conduct two public hearings at 7 p.m. at the Charleston City Hall.

The first public hearing will be for the City Council to decide, whether to renew the city’s participation in an investment program called HOME, which assists low-income residents in obtaining a place to live. If the resolution is approved, then the city will be reapplying for HOME in October.

The second public hearing is to consider the petitions to vacate an alley between Washington and Adams avenues.

“Basically, the city doesn’t use the alley for anything,” said Mayor John Inyart. “Years ago this property was created there as an access so that city maintenance vehicles could get through . Over the years these alleys have become too narrow for the larger vehicles to go through these days. It will make people’s backyards a little bit bigger.”

In addition, the council will be voting on whether to renew a loan from the Bank of America.

The loan originated in October of 2004 to pay costs associated with 14 city employees who retired early. As of now, the city still owes the bank $522,303.

“At the time, we were paying the state over 5 percent in interest in about $1.2 million to fund those early retirements,” Inyart said. “Our city manager found that we could borrow this money from the bank and save almost 2 percent.”

Inyart said that this move will probably save the city more than $100,000 in interest.

The renewal will keep the city at the same fixed rate until 2009, but Inyart said the city plans on having the loan paid completely by then.

The council will also vote on a resolution approving the Charleston police union’s labor agreement that expired in May.

“They have been basically working without a contract,” Inyart said. “And now that they have agreed, voted and approved this contract, the council will be voting on it.”

According to Inyart, the contract will last three years.

The council will also vote on resolutions to authorize street closures for two upcoming parades. The first is for the Jaycees Halloween Parade on Oct. 27, and the second is for the Christmas in the Heart of Charleston Parade on Dec. 1.

City Council meetings are held the first and third Tuesdays of every month at 7:30 p.m. and are open the public.

Charleston City Hall is located at 520 Jackson Ave.