RESOLUTION NO. 110116
Amending
the 2010 One Year Action Plan and authorizing submittal of a Substantial
Amendment to the U.S. Department of Housing and Urban Development for its
consideration in order to amend the budget for the Neighborhood Stabilization
Program 3 funding received under the Wall Street Reform and Consumer Protection
Act of 2010.
WHEREAS, in July
2010, Congress enacted Public Law 111-203, the Wall Street Reform and Consumer
Protection Act of 2010, which provided funding to the U.S. Department of
Housing and Urban Development (“HUD”) to allocate to states, counties and
cities in response to the housing crisis; and
WHEREAS, Section
1497 of the law allocated funds for the third round of the Neighborhood
Stabilization Program (“NSP”), under which state and local governments may
utilize the funding by establishing financing mechanisms for the purchase and
redevelopment of foreclosed homes and residential properties; purchasing and
rehabilitating abandoned or foreclosed residential properties; establishing
land banks for foreclosed homes; demolishing blighted structures; and
redeveloping demolished or vacant properties, among other eligible activities;
and
WHEREAS, the
City of Kansas City, Missouri, has been allocated $1,823,888.00 in funding from
HUD to be used toward the above mentioned purposes; and
WHEREAS, in
order to provide sufficient funding to meet the grant obligation requirements
established by HUD under the Program, the City must amend its 2010 One Year
Action Plan which was approved by Council through Committee Substitute For
Resolution No. 100145 and subsequently amended by Council through Committee
Substitute for Resolution No. 100310, and submit said Substantial Amendment to
HUD for its consideration; NOW, THEREFORE,
BE IT RESOLVED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the Substantial Amendment to the 2010 Action Plan, prepared pursuant to the Wall
Street Reform and Consumer Protection Act of 2010, a copy of which, in
substantial form, is on file in the Housing and Community Development
Department and is incorporated herein by reference, is hereby approved.
Section 2. That
the Mayor, on behalf of the City of Kansas City, Missouri, is hereby authorized
to execute and submit the aforesaid Substantial Amendment to the United States
Department of Housing and Urban Development.
Section 3. That
the City Council hereby certifies that said Substantial Amendment has been
prepared pursuant to and in accordance with the Wall Street Reform and Consumer
Protection Act of 2010, as well as with U.S. Department of Housing and Urban
Development’s standard rules and regulations pertaining to the use of Community
Development Block Grant funds.
___________________________________________
Approved
as to Form and Legality:
________________________________
Nicole Rowlette
Assistant City Attorney