Item No: 4.C.3

Meeting Date: January 28, 2013

From: Ken Thomas, Director of Housing & Economic Development

Subject: Resolution authorizing the Mayor and City Clerk to execute contracts and agreements pertaining to the Neighborhood Stabilization Program 3 (NSP3) Affordable Housing Program to include acquisition of properties and rehabilitation.

Staff Recommendation:

Staff recommends approval of the resolution authorizing the Mayor and City Clerk to execute contracts and agreements pertaining to the NSP3 Affordable Housing Program that includes acquisition of properties and rehabilitation.

Analysis:

The Neighborhood Stabilization Program 3 (NSP3) was established by the Federal Government for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and rehabilitation of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.

Lake County Government is the recipient of NSP funding from the Federal Government and has contracted with the City of Leesburg to carry-out the programs. The City is obligated to acquire multi-family and single family housing within a targeted area. Vacant lots, vacant residential structures, and residential properties in need of rehabilitation will be considered.

The City of Leesburg approved the NSP3 agreement on July 9, 2012. The subject resolution will allow the Mayor and City Clerk to execute contracts and agreements to meet the requirements and deadlines in the NSP 3 agreement between Lake County Government and the City of Leesburg.

Options:

1. Approve the resolution authorizing the Mayor and City Clerk to execute contracts and agreements pertaining to the NSP 3 Agreement to acquire and rehab affordable housing; or

2. Such alternative action as the Commission may deem appropriate

Fiscal Impact:

NSP 3 funding of $360,000 has been set-aside for acquisition and rehabilitation of foreclosed and abandon properties. The required City match of $360,000 is available in the Carver Heights CRA fiscal year 2013 budget.

Submission Date and Time: 1/23/2013 5:58 PM____

Department: ______________________ Prepared by: ______________________ Attachments: Yes____ No ______ Advertised: ____Not Required ______ Dates: __________________________ Attorney Review : Yes___ No ____ _________________________________ Revised 6/10/04

Reviewed by: Dept. Head ________ Finance Dept. __________________ Deputy C.M. ___________________ Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget ______________________ Available _____________________

RESOLUTION NO.____________

RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE CONTRACTS AND AGREEMENTS PERTAINING TO NSP 3 AFFORDABLE HOUSING PROGRAM; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

THAT the Mayor and City Clerk are hereby authorized to execute agreements and contracts pertaining to the NSP 3 affordable housing programs.

THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _28th____ day of _January_____ 2013.

__________________________

Mayor

ATTEST:

___________________________________

City Clerk