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 t...
Click here for full text