Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Budget Insertion
Purpose: Neighborhood Stabilization Program III (All wards)
Funding Source: United States Department of Housing and Urban Development
Appropriation Amount: $2,018,637.00
Budget Year: 2012
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 #7R3n (AS) 021611
Operating Agency: Department of Economic & Housing Development
Two-Thirds vote of full membership required.
body
BI-# 2
WHEREAS, N.J.S.A. 40A:4-87 provides that the Director of Local Government Services may approve the insertion of any Special Item of Revenue in the budget of any local unit when such item shall have been made available by law and the amount thereof shall not have been determined at the time of the adoption of the budget, and may approve the insertion of any appropriation item of equal amount for the purpose of carrying out the purposes the law making such item of revenue available for expenditure; and
WHEREAS, funding has been accepted by Resolution #7R3n (AS) dated February 16, 2011, from the U. S. Department of Housing and Urban Development (HUD), the City of Newark was awarded $2,018,637.00 for eligible housing activities to be made available to households at or below 120% AMI. (All Wards); and
WHEREAS, the United States Department of Housing and Urban Development (HUD) has made available $2,018,637.00 to the City of Newark for the Neighborhood Stabilization Program (All Wards)
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY:
1. That in accordance with the provisions of N.J.S.A 40A:4-87, the City of Newark hereby requests the Director of Local Government Services to approve a budget insertion in the amount of $2,018,637.00 an appropriation of equal amount for the eligible housing activities to be made available to households at or below 120% AMI (All Wards) in the budget year 2012 as set forth in the approved application and made a part hereof.
2. That the aforesaid insertions are, in the opinion of the governing body, warranted and authorized by N.J.S.A. 40A:4-87 and are necessary for the orderly operation of the municipality.
3. A copy of this resolution shall be filed with the Director of the Division of Local Government Services by the City Clerk of the City of Newark.
STATEMENT
This Resolution establishes the Revenue and Appropriation in the 2012 Municipal Budget in the amount of $2,018,637.00 Neighborhood Stabilization Program. Funding will be provided by the U. S. Department of Housing and Urban Development (HUD). (All wards)
SCHEDULE A
ANTICIPATED ITEM OF REVENUE SPECIAL ITEM OF APPROPRIATION
United States Department of Housing and Urban Unclassified Purposes
Development Special Item of Appropriation
Neighborhood Stabilization Program III Neighborhood Stabilization Program III
(All Wards) (All Wards)
$2,018,637.00 $2,018,637.00
1. Project Director is Adam Zipkin, Director of Economic & Housing Development.
2. Fiscal Officer is Susan Jacobucci, Director of Finance.
3. The Operating Agency is the Department of Economic & Housing Development.
4. The type of funding is reimbursement payments upon submission of quarterly expenditure reports.
5. The grant period is from March 9, 2011 to March 9, 2014.
6. A copy of this resolution shall be filed with the City Clerk by the Budget Director of the City of Newark.