Number
080858
Version
Subtitute 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution approving the allocation of funds for the Housing and Economic Recovery Act of 2008 - Neighborhood Stabilization Program (NSP) funded through the Community Development Block Grant (CDBG) Program from the U. S. Department of Housing and Urban Development through the Community Development Grants Administration (CDGA).
Body
Whereas, The City of Milwaukee has been allocated $9,197,465 from the United States Department of Housing and Urban Development (HUD) through the Neighborhood Stabilization Program (NSP); and
Whereas, The Neighborhood Stabilization Program was authorized by a recently enacted Housing and Economic Recovery Act (HERA) of 2008; and
Whereas, The uses of the Neighborhood Stabilization Program funds are as follows:
· Establishment of financing mechanisms for the purchase and redevelopment of foreclosed upon homes and residential properties;
· Purchase and rehabilitation of abandoned and foreclosed homes and residential properties;
· Establishment of land banks for homes that have been foreclosed upon;
· Demolition of blighted structures; and
· Redevelopment of demolished or vacant properties; and
Whereas, The NSP is closely related to the Community Development Block Grant (CDBG) Program. HUD will implement the Neighborhood Stabilization Program by relying upon existing CDBG requirements and making appropriate adjustments to accommodate the directives of HERA; and
Whereas, The proposed Neighborhood Stabilization Program plan amendment was posted by the usual methods for no less that 15 calendar days of public comment; and
Whereas, The City of Milwaukee must fully obligate its award within 18 months of receipt of the NSP funds. All NSP funds must be expended within 4 years of receipt of those funds from HUD: now therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Community Development Grants Administration (CDGA) is hereby authorized to submit to the United States Department of Housing and Urban Development the final version of the Neighborhood Stabilization Program Plan substantial amendment to the Consolidated Plan and the 2008 Annual Action Plan as well as any other related documentation required by the Department of Housing and Urban Development. Funding awards will be allocated as shown in Attachment A. This document is due to the Department of Housing and Urban Development by December 1, 2008; and, be it
Further Resolved, That the Mayor of the City of Milwaukee is designated as the authorized representative of the City of Milwaukee in connection with all matters relating to the City’s Neighborhood Stabilization Program; and, be it
Further Resolved, That the City of Milwaukee assures and certifies that it will comply with the regulations, policies guidelines and requirements with respect to the acceptance and use of the Neighborhood Stabilization Program; and, be it
Further Resolved, That application to HUD is authorized and the Community Development Grants Administration shall accept this grant without further approval unless the terms of the grant changes as indicated in Section 304-81 of the Milwaukee
Code of Ordinances.
Further Resolved, That the City Comptroller is authorized to:
Commit Funds within the Project/Grant Parent of the 2008 Special Revenue Grant and Aid Projects Fund, the following amounts for the program/projects titled Neighborhood Stabilization Program (NSP):
Project/Grant Fund Org Program BY SubClass Acct
GR0000800000 0150 9990 0001 0000 R999 000600
Project Amount
Grantor Share $9,197,465
Create the necessary Grant and Aid Project/Grant and Project/Grant levels; budget against these Project/Grant values the amounts required under the grant agreement;
Further Resolved, That these funds are budgeted for the Community Development Grants Administration, which is authorized to:
Expend from the amount budgeted for specified purposes as indicated in the grant budget and incur costs consistent with the award date;
Expend from the grant budget funds for training and out-of-town travel by departmental staff.
Enter into subcontracts and leases as detailed in the grant budget.
; and, be it
Further Resolved, That all departments/agencies are required to submit budget and activity reports in amounts and according to any conditions approved by the Common Council and the Mayor in conformance with File Number 74-92-5v to the Community Development Grants Administration and the City Comptroller for their review and approval; and, be it
Further Resolved, That the Position Ordinance be amended to extend position authority for each City department/agency with 100% Grant and Aid funded positions as identified in the current Position Ordinance; and, be it
Further Resolved, That payments for CDBG costs incurred shall be paid in accordance with approved CDBG reimbursement policy based on the approval by the Community Development Grants Administration and City Comptroller of a Budget Forecast (CDA-51); and, be it
Further Resolved, That the Block Grant Director of the Community Development Grants Administration is hereby authorized on behalf of the City and the Community Development Grants Administration, to execute, deliver, publish, file and record such documents, instruments, notices and records and to take such other actions as shall be necessary or desirable to implement the Neighborhood Stabilization Program in accordance with the approved Neighborhood Stabilization Program Plan as to whether funds will be awarded in the form of grant or loans, and determination of payback provisions, interest rates, amortization schedules, collateral security requirements (if any), forgiveness of debt, and release of collateral.
Requestor
Drafter
2008CDBG-Foreclosure-Fund
11/13/08