Title
Dept/ Agency: Administration/Office of Management and Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Temporary Emergency Appropriation
Purpose: Home Investment Partnership Act Program to develop, fund and rehabilitate various projects within the City of Newark
Funding Source: Program income generated from loan repayments, as a result of project developments within the City of Newark
Appropriation Amount: $197,955.61
Budget Year: 2018
Contract Period: Until completion of program resources
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: 7Rcw (as) adopted on April 20, 1994, 7Rp adopted October 5, 1994, 7Re (s-2) adopted on April 9, 1996, 7Rck (as) adopted on April 1, 1998, 7Rcq (as) adopted on April 4, 2001
Operating Agency: Department of Economic and Housing Development
Two-Thirds vote of full membership required
body
TE - #37
WHEREAS, an emergency has arisen in Special Item of Appropriation in the amount of $197,955.61 for the Home Investment Partnership Act Program and no provision has been made in the 2018 Temporary Budget for the aforesaid purpose; and N.J.S.A. 40A:4-20 provides for the creation of an emergency appropriation for the purpose aforementioned; 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, the money being appropriated is program income generated from loan repayments from projects subsidized through Federal HOME funds, and the HOME Program loaned from the City of Newark to r...
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