HomeMy WebLinkAbout3148 Resolution RESOLUTION NO. 31 r 4
A RESOLUTION APPROVING THE NEIGHBORHOOD STABILIZATION
PROGRAM (NSP) WORK PLAN ALLOCATION
WHEREAS, the City of Pasco has been awarded $402,141 under the Neighborhood
Stabilization Program authorized under Title III of the Housing and Economic Recovery Act of
2008 (HERA) and administered by the Community Trade & Economic Development
Department of the State of Washington (CTED) under US Department of Housing & Urban
Development (HUD) regulations for the purpose of stabilizing neighborhoods negatively
affected by foreclosures and abandoned properties; and
WHEREAS, staff has prepared the Neighborhood Stabilization Program (NSP) Work
Plan for activities totaling $402,141; NOW, THEREFORE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO:
Section 1. That the Neighborhood Stabilization Program (NSP) shall provide down payment
assistance for homebuyers of foreclosed properties city-wide whose household income does not
exceed 120 percent of the area median income for the Kennewick-Pasco-Richland Metropolitan
Statistical Area; and
Section 2. That the Pasco City Council hereby approves the Neighborhood Stabilization
Program (NSP) Work Plan as follows:
NSP Work Plan
Housing Individuals
Activity NSP Funds % NSP Units Served
Down Payment Assistance $277,000 70% 21 63
Targeted at below 50%AMl $106,000 25% 16 48
Program Administration $19,141 5%
TOTALS $402,141 100% 37 111
PASSED by the City Council of the City of Pasco this day of MO r , 2009
CITY OF PASCO:
Joyc is
Ma
ATTEST: APPROVED AS TO FORM:
b/q W
Sandy L. K n orthy Leland B. Kerr
Deputy City Clerk City Attorney