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| Council Meeting Date: |
June 11, 2009 |
Contact Person: |
Christina Ramirez, Community Development |
| Submitting Department: |
CD |
District: |
Citywide |
| Staff Recommendations: |
Approve |
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| Agenda Wording: |
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Consideration and action on authorizing staff to submit a competitive application to HUD for Neighborhood Stabilization Program 2 funding in conjunction with Neighborhood Housing Services of Southwest Maricopa County to continue NSP activities. Furthermore, authorizing the City Manager to execute a grant agreement with the Department of Housing and Urban Development upon the acceptance of such application.
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| Motion: |
| I move to approve authorizing staff to submit a competitive application to HUD for Neighborhood Stabilization Program 2 funding in conjunction with Neighborhood Housing Services of Southwest Maricopa County to continue NSP activities, and authorizing the City Manager to execute a grant agreement with the Department of Housing and Urban Development upon the acceptance of such application. |
| Background: |
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The U.S. Department of Housing and Urban Development (HUD) recently announced the availability of an additional round of competitive funds from the Neighborhood Stabilization Program (NSP2). Surprise received an initial allocation of $2.1 million in NSP funding under the first round. This funding will be used to purchase abandoned and foreclosed homes and to rehabilitate these homes, or build new affordable units where rehabilitation is not cost effective.
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| Financial Impact Statement: |
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The approval of the submission of the application would be for a total possible award of $5,000,000, of which, 10% can be used to reimburse the city for associated administrative costs related to the implementation of the Neighborhood Stabilization Program 2 (NSP2). At the time of the award, the city will make a transfer from unforeseen grants to the NSP grant account. This grant is awarded as a reimbursable fund.
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| ATTACHMENTS: |
| Click to download |
Memo
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| External Attachment Links: |
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| Presentation Speaker Names (spelling and titles for TV captions): |
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Chrisitna Ramirez, Neighborhood Services Supervisor, Community Development
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