Title
Dept/ Agency: Administration/Office of Management and Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Budget Insertion
Purpose: To provide for HOME Investment Partnerships - American Rescue Plan (HOME-ARP) Program (City-wide).
Funding Source: United States Department of Housing and Urban Development (USDHUD)
Appropriation Amount: $9,928,468.00
Budget Year: 2023
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:
Amending Resolution will be submitted under separate cover as Legistar ID #23-1601.
Operating Agency: Department of Economic and Housing Development
Two-Thirds vote of full membership required.
No Action Taken 7R1-c 111323
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BI - #12
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 an appropriation item of equal amount for the purpose of carrying out the purposes of the law making such item of revenue available for expenditure; and
WHEREAS, by award letter dated February 17, 2023 from the United States Department of Housing and Urban Development (USDHUD), the City of Newark has been awarded Nine Million Nine Hundred Twenty-Eight Thousand Four Hundred Sixty-Eight Dollars and Zero Cents ($9,928,468.00) for the HOME-ARP Program to continue to provide affordable housing for low-income households; and
WHEREAS, the USDHUD has made available $9,928,468.00 for the HOME-ARP Program.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY,...
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