Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Temporary Emergency Appropriation
Purpose: Neighborhood Stabilization Program III (City-wide)
Funding Source: United States Department of Housing & Urban Development
Appropriation Amount: $2,018,637.00
Budget Year: 2013
Contract Period: March 9, 2011 through March 8, 2014
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( X ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Funds accepted by Resolution #7R3-n (AS) 021611
Operating Agency: Department of Economic & Housing Development
Two-Thirds vote of full membership required.
Deferred 7R1-h 022013
Invitation: Office of Management & Budget Director, March 5, 2013
Invitation: Michael Meyer, Director of Division of Housing and Real Estate, March 19, 2013
body
TE # 7
WHEREAS, an emergency has arisen in Special Item of Appropriation in the amount of $2,018,637.00 for Neighborhood Stabilization Program III (NSP3) and no adequate provision has been made in the 2013 Temporary Budget for the aforesaid purpose; and
WHEREAS, by Resolution 7R3-n (AS) dated February 16, 2011, City of Newark accepted the Neighborhood Stabilization Program III Grant in the amount of $2,018,637.00, to provide funds for eligible individuals and families whose income does not exceed 120 percent of Area Median Income (AMI), for a period not to exceed three (3) years commencing from the date of contract execution by the United States Department of Housing & Urban Development (HUD). No Municipal funds are required; and
WHEREAS, N.J.S.A 40A:4-20 provides that the Governing Body by a two-thirds vote may make temporary emergency appropriations for any purpose for which appropriations may lawfully be made for the period between the beginning of the current fiscal year and the date of the adoption of the budget for said year; and
WHEREAS, emergency appropriation adopted in 2013 pursuant to N.J.S.A. 40A:4-20 including this resolution total...$11,993,058.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. An emergency appropriation be and the same is hereby made for the following classification:
Program Amount
Neighborhood Stabilization $2,018,637.00
Program III
2. Said emergency appropriation shall be provided for in the 2013 budget.
3. A copy of this resolution shall be filed with the Director of Local Government Services by the City Clerk of the City of Newark.
STATEMENT
This Resolution establishes the appropriation in the amount of $2,018,637.00 for the Neighborhood Stabilization III Program. Funding has been provided by the United States Department of Housing and Urban Development (HUD) Program. The contract period is March 9, 2011 through March 8, 2014 (City-wide).