HomeMy WebLinkAbout3220 Resolution RESOLUTION NO.
A RESOLUTION APPROVING AMENDMENT TO THE NEIGHBORHOOD
STABILIZATION PROGRAM (NSP) ACTION PLAN AND GUIDELINES
WHEREAS, the City of Pasco has been awarded $24,202 in additional funds increasing
total program funding to $426,343 under the Neighborhood Stabilization Program authorized
under Title III of the Housing and Economic Recovery Act of 2008 (HERA) and administered by
the US Department of Housing & Urban Development (HUD), and subject to both CDBG and
HOME regulations for the purpose of stabilizing neighborhoods negatively affected by
foreclosures and abandoned properties; and
WHEREAS, the City adopted regulations in establishing single family rehabilitation
standards for programs operating under HOME Investment Partnerships Regulations 24 CFR
570.92 that also apply to the Neighborhood Stabilization Program; and
WHEREAS, the Neighborhood Stabilization Program (NSP) Action Plan has been
prepared in accordance with Department of Commerce (DOC) Guidelines to allow for
acquisition and rehabilitation activities; and
WHEREAS, the City Council Finds that market realities and applicable deadlines
associated with the NSP Program dictate that the majority of funds be allocated for acquisition
and rehabilitation of one or more foreclosed properties; NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO:
Section 1. That the Pasco City Council hereby approves the Neighborhood Stabilization
Program (NSP) Plan Guidelines as amended to include Pasco's adopted Owner and Rental
Rehabilitation Standards and approves the Revised Action Plan as follows:
NSP Revised Action Plan
Housing
Activity NSP Funds % NSP Units
Acquisition& Rehab>50%AMI $189,851 44,5% 2
Acquisition& Rehab<50%AMI $189,851 44.5% 2
First Time Homebu ers Assistance $27,500 6.5% 3
Program Administration $19,141 4.5%
TOTALS $426,343 100% 7
PASSED by the City Council of the City of Pasco this day of r6A, 2010
CITY OF PASCO:
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ATTEST: APPROVED AS TO FORM:
NC?1�0 0, L!,-- -111,11-1 Debra lark Leland B. Kerr
City Clerk City Attorney