Explanation
Background:
This ordinance authorizes the expenditure of up to $500,000 from the Development Taxable Bond Fund 7739 to expand Healthy Neighborhoods Healthy Families Realty Collaborative (HNHF) rehabilitation to the Linden community. HNHF will administer an exterior home rehabilitation on behalf of the Department of Neighborhoods in an effort to advance the One Linden community plan.
Community Planning Area is South Linden - 45
This program will assist homeowners and residents with exterior rehabilitation while facilitating pride, community reinvestment and responsible homeownership and rental units. Residents at or below 65% AMI will be provided much needed financial assistance in making much needed rehabilitation to their homes that will secure safe housing for our most vulnerable residents; and promote and leverage private investment in the neighborhood.
Fiscal Impact: Funding for this agreement is budgeted within the 2019 Capital Improvement Budget within Fund 7739 Development Taxable Bonds. An amendment and transfer of funding is required.
Emergency Justification: Emergency action is requested to allow for the immediate execution of this contract in order to advance community plan implementation and begin construction.
Title
To authorize the Director of the Department of Neighborhoods to make financial assistance available as homeowner assistance grants to projects developed or sponsored in Linden; to authorize the Director to enter into contract with Healthy Neighborhoods Healthy Families (HNHF) Realty Collaborative and to authorize the Director to execute those documents necessary on behalf of the City; to authorize the transfer of funding between projects with the Development Taxable Bond fund; to amend the 2019 Capital Improvement Budget; to authorize the expenditure of $500,000.00 from the Development Taxable Bond Fund 7739; and to declare an emergency. ($500,000.00)
Body
WHEREAS, the City is supportive of the Linden ...
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