Explanation
BACKGROUND: This legislation authorizes modification of the NSP2 Consortium Agreement (EL011062) with the Franklin County Board of Commissioners. A section of the agreement (Payment Procedures) will be modified to allow the City to facilitate the processing payments for the purposes of acquisition of NSP2 eligible property by Franklin County. Currently the agreement only allows payment on a reimbursement basis.
The City of Columbus is the Lead Applicant of the NSP2 Consortium which is an association of seven organizations and government entities formed for the purpose of applying for and implementing NSP2 funds. Franklin County Board of Commissioners is a member of the NSP2 Consortium. Prior ordinance 0156-2010, as amended by ordinance 1278-2010, authorized the Director of the Department of Development to enter into consortium funding agreements with members of the NSP2 Consortium. The NSP2 funds provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values.
Emergency action is requested to avoid interruptions in program services.
FISCAL IMPACT: No additional funds are required.
Title
To authorize the Director of the Department of Development to modify the NSP2 Consortium Agreement with the Franklin County Board of Commissioners for the purpose of allowing advancement of funds for property acquisition; and to declare an emergency.
Body
Whereas, this legislation authorizes modification of the NSP2 Consortium Agreement (EL011062) with the Franklin County Board of Commissioners for the purpose of allowing advancement of funds for property acquisition; and
Whereas, the modification will facilitate the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values; and
Whe...
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