Number
111021
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the adjustment of the Neighborhood Stabilization Program 2 allocation within the Department of City Development Vacant Land Initiative.
Analysis
Body
Whereas, The Common Council of the City of Milwaukee has previously approved the NSP2 award to the Department of City Development (DCD) for the Vacant Land Initiative activity in the amount of $3,400,000; and
Whereas, DCD has notified the Community Development Grants Administration (CDGA) in the attached letter of their request to move $600,000 from the non set-aside activity-household greater than 50% AMI (current funding $2,200,000) and transfer it to the 25% set-aside activity-households at or below 50% of AMI (current funding $1,200,000) within the Vacant Land Initiative for the United Methodist Children's Services (UMCS) project as indicated in the attached letter; and
Whereas, The U. S. Department of Housing and Urban Development (HUD) has informed CDGA that this change will require HUD approval; now therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Community Development Grants Administration is authorized to accept the adjusted funding awards within the DCD department; and, be it
Further Resolved, That DCD shall submit budgets and activity reports in the amounts and according to any conditions approved by the Common Council, to the Community Development Grants Administration and the City Comptroller for review and approval; and, be it
Further Resolved, That payments for NSP2 costs incurred shall be paid in accordance with approved NSP2 reimbursement policy based on the approval by the Community Development Grants Administration and the City Comptroller.
Requestor
Drafter
Foreclosure-NSP(2)-Adj-12-11
11/21/11