Item No: 5I.
Meeting Date: July 22, 2013
From: Ken Thomas, Director of Housing & Economic Development
Subject: Resolution authorizing an Addendum to Interlocal Agreement between Lake County Government and the City of Leesburg for the Neighborhood Stabilization Program (NSP1)
Staff recommends approval of the Addendum to allow the City of Leesburg to receive funding in the amount of $149,316.94 to purchase one (1) new property for resale or rental.
On June 22, 2009, the City entered into an Interlocal Agreement with Lake County Government to provide NSP activities for low and moderate income families. The agreement provides funding to allow Staff to purchase, rehabilitate and resell foreclosed and abandoned properties during the term of the Agreement.
The proposed Addendum will authorize Lake County to provide additional funds to the City of Leesburg from the NSP1 program in the amount of $149,316.94. The Addendum also includes an extension on the original agreement until January 31, 2104. The additional funds are to be used to purchase a minimum of one property for resale or rental. All other provisions of the original Interlocal Agreement remain in full force.
1. Approve the Addendum to the Interlocal Agreement between Lake County and Leesburg; or
2. Such alternative action as the Commission may deem appropriate
The City will gain additional funds in the amount of $149,316.94 to purchase a property.
Prepared by: ______________________
Attachments: Yes____ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. _BLM,_____________
Deputy C.M. ___________________
City Manager ___________________
Account No. _013-0000-331-5900_____
Project No. ___NSP008___________
WF No. ______________________
RESOLUTION AUTHORIZING EXECUTION OF AN ADDENDUM TO INTERLOCAL AGREEMENT BETWEEN LAKE COUNTY GOVERNMENT AND THE CITY OF LEESBURG FOR THE NEIGHBORHOOD STABILIZATION PROGRAM (NSP1); 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 an addendum to the Interlocal Agreement between Lake County Government whose address is Post Office Box 7800, Tavares, Florida 32778-7800 and the City of Leesburg, for the purpose of providing additional funding in the amount of $149,316.94 to purchase one new property and implement the Neighborhood Stabilization Program (NSP1).
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 July day of 22, 2013.