Explanation
BACKGROUND: This legislation authorizes the modification of the NSP2 Consortium Agreement (EL011062) with the Franklin County Board of Commissioners. The contract amount is being reduced by $19,846.66 in order to reallocate to other eligible NSP2 projects an unspent portion of the original allocation. In addition, this legislation authorizes the transfer of $27,246.66 which includes the unspent funds from contract EL011062. This action is being taken in order to assist the Lead Applicant and the NSP2 Consortium in meeting the U.S. Department of Housing and Urban Development's (HUD) NSP2 expenditure deadline.
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. The Franklin County Board of Commissioners is a member 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 in order to meet the expenditure deadline of February 11, 2013.
FISCAL IMPACT: This ordinance authorizes the transfer of $27,246.66 and the expenditure of $27,246.66 within the General Government Grant Fund, NSP2 Grant.
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 reducing the amount of the contract; to authorize and direct the transfer of $27,246.66 within the General Government Grant Fund; to authorize the expenditure of $27,246.66 from the General Government Grant Fund to provide funding for obligations and expenditures related to the Neighborhood Stabilization Program 2 grant; and to declare an emergency. ($27,246.66)
Body
WHEREAS, this legislation authorizes modification of the NSP2 Conso...
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