Agenda Item # 2
Columbus Consolidated Government
Council Meeting
November 18, 2008
Agenda Report # 331
TO: Mayor and Councilors
SUBJECT: Neighborhood Stabilization Program (NSP)
INITIATED BY: Department of Community Reinvestment
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Recommendation: Approval is requested for the filing of a substantial
amendment to the Annual Action Plan and make application requesting entitlement
funding from the Neighborhood Stabilization Program (NSP) from the Department
of Housing and Urban Development (HUD).
Background: The Housing and Economic Recovery Act (HERA), 2008 created the
Neighborhood Stabilization Program (NSP). HERA provides $3.92 billion to
states and localities to assist in redevelopment efforts. The funding will
provide emergency assistance in the redevelopment of abandoned and/or
foreclosed homes. In order to receive funding under the HERA, the City must
submit a substantial amendment to its Annual Action Plan. The Annual Action
Plan is a document required by the Department of Housing and Urban Development
(HUD) illustrating to HUD and the citizens of Columbus, Georgia how our
entitlement funds will be expended.
Analysis: The City of Columbus received an allocation of $3,117,039 for the
NSP Program. The City has identified four areas of greatest need where these
funds will be distributed to provide homeownership opportunities for
individuals and families whose incomes do not exceed 120% of area median
income. These areas of greatest need are based upon the number of actual
foreclosures over the last two years and on the projected number of
foreclosures as determined by the foreclosure data calculated by the Department
of Housing and Urban Development (HUD).
Financial Considerations: The City will receive an entitlement of $3,117,309
from the Neighborhood Stabilization Program (NSP).
Legal Considerations: Council must approve the Application for funding.
Recommendations: Approve the resolution authorizing the filing of a
substantial amendment to the Annual Action Plan and make application requesting
entitlement funding from the Neighborhood Stabilization Program (NSP) from the
Department of Housing and Urban Development (HUD).
A RESOLUTION
NO. _____
A RESOLUTION AUTHORIZING THE FILING OF A SUBSTANTIAL AMENDMENT TO THE
ANNUAL ACTION PLAN AND MAKE APPLICATION REQUESTING ENTITLEMENT FUNDING UNDER
THE NEIGHBORHOOD STABILIZATION PROGRAM (NSP) FROM THE DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT (HUD).
WHEREAS, the Housing and Economic Recovery Act (HERA), 2008 created the
Neighborhood Stabilization Program (NSP) and provides $3.92 billion to states
and localities to assist in redevelopment efforts of abandoned and foreclosed
homes; and,
WHEREAS, the Substantial Amendment of the Annual Action Plan for the
Consolidated Government of Columbus, Georgia has been developed as prescribed
by the Federal Regulations of the Department of Housing and Urban Development
(HUD); and,
WHEREAS, the Consolidated Government of Columbus, Georgia will receive an
entitlement of $3,177,09 under the Neighborhood Stabilization Program (NSP);
and,
WHEREAS, the City has identified four areas of greatest need where these funds
will be distributed to provide homeownership opportunities for individuals and
families whose incomes do not exceed 120% of area median income; and,
WHEREAS, the Consolidated Government of Columbus, Georgia wishes to apply for
federal funds under the Neighborhood Stabilization Program (NSP).
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY RESOLVES AS FOLLOWS:
That the Substantial Amendment of the Annual Action Plan and application for
Neighborhood Stabilization Program (NSP) is hereby approved for filing with the
Department of Housing and Urban Development (HUD) and further authorizes the
City Manager and/or his designee to execute all contracts, agreements and
understandings related to Neighborhood Stabilization Program (NSP).
_____________________________
Introduced at a regular meeting of the Council of Columbus, Georgia,
held the _________day of _____________, and adopted at said meeting by the
affirmative vote of ____________members of said Council.
Councilor Allen voting __________.
Councilor Anthony voting __________.
Councilor Baker voting __________.
Councilor Barnes voting __________.
Councilor Davis voting __________.
Councilor Henderson voting __________.
Councilor Hunter voting __________.
Councilor McDaniel voting __________.
Councilor Turner Pugh voting __________.
Councilor Woodson voting __________.
_______________________________ ____________________________
Tiny B. Washington, Clerk of Council Jim Wetherington, Mayor
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