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Legislation #: 110116 Introduction Date: 2/17/2011
Type: Resolution Effective Date: 4/3/2011
Sponsor: None
Title: 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.

Legislation History
DateMinutesDescription
2/15/2011 Filed by the Clerk's office
2/17/2011 Referred to Housing Committee
2/23/2011 Immediate Adoption
2/24/2011 Adopted

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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