Explanation
BACKGROUND: In response to the present housing mortgage crisis, the city of Columbus is engaged in the Neighborhood Stabilization Program (NSP) project. The U.S. Department of Housing and Urban Development (HUD) has provided the City with funds to pay for those professional services necessary to the project which includes the hiring of independent title attorneys and appraisers in order to identify each property owner and to estimate the fair market value of each targeted property. The following is an ordinance to authorize the City Attorney to contract for professional services, and to expend the monies for payment of those costs in connection with the Neighborhood Stabilization Program (NSP) project.
Fiscal Impact: The Department of Finance and Management, has determined funding for this project will be from the General Government Grant Fund.
Emergency Justification: Emergency action is requested as not to delay the immediate and effective implementation of 2009 NSP programs to address the current mortgage crisis in our city.
Title
To authorize the City Attorney to contract for professional services, and to expend $100,000.00 from the General Government Grant Fund for costs in connection with the Neighborhood Stabilization Program (NSP) project, and to declare an emergency. ($100,000.00).
Body
WHEREAS, in response to the housing mortgage crisis, the city of Columbus is engaged in the Neighborhood Stabilization Program (NSP) project; and
WHEREAS, the U.S. Department of Housing and Urban Development (HUD) has provided the City with funds to pay for those professional services necessary to the project which includes the hiring of independent title attorneys and appraisers in order to identify each property owner and to estimate the fair market value of each targeted property; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Finance and Management, in that it is immediately ne...
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