HomeMy Public PortalAbout003-2011 - Grant - Indiana Housing Finance AutORDINANCE NO. 3-2011
AN APPROPRIATION ORDINANCE AUTHORIZING THE SUBMITTAL,
ACCEPTANCE, AND APPROPRIATION OF A GRANT FROM THE
INDIANA HOUSING AND COMMUNITY DEVELOPMENT AUTHORITY
WHEREAS, The City of Richmond recognizes the need to stimulate growth and to maintain
affordable housing to benefit its citizens;
WHEREAS, The Housing and Economic Recovery Act of 2008 allows the United States
Department of Housing and Urban Development (HUD) to allocate Community
Development Block Grant (CDBG) monies to communities and states nationwide;
WHEREAS, Additional CDBG monies have been allocated to Indiana, and the Indiana Housing and
Community Development Authority (IHCDA), through its Comprehensive
Neighborhood Revitalization Fund (CNRF), will award competitive grants, known as
Neighborhood Stabilization Program 3 (NSP3) Grants, to local governments to assist
with the redevelopment of abandoned and foreclosed homes and residential properties.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond,
Indiana, as follows:
1. The Mayor is authorized to prepare and submit an application for NSP3 funds up to Three
Million Dollars ($3,000,000.00), on or before January 31gt, 2011, to acquire and rehabilitate foreclosed
properties in an area of greatest need, which need will be determined by the assessments of foreclosure
properties located within Richmond, and to execute and administer resultant grant funds, including
requisite general administration, housing activity management, and preparation of contracts and
agreements pursuant to regulations of the Indiana Housing and Community Development Authority
and the United States Department of Housing and Urban Development.
2. There is no local match required to participate in the Neighborhood Stabilization Grant
Program.
Passed and adopted this _18th _ day of January 2011, by the Common Council of the City of
Richmond, Indiana.
_S/S Diana PROM President
(Diana Pappin)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)
PRESENTED to the Mayor of the City of Richmond, Indiana, this _19th day of _January , 2011, at
9:00 a.m.
_S/S Karen Chasteen City Clerk
(Karen Chasteen)
APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this _19th day of
_January , 2011, at 9:05 a.m.
S/S Sarah L. Hutton Mayor
(Sarah L. Hutton)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)