Label
Neighborhood Stabilization Program Round (NSP2) Program Income
Department of Neighborhoods
Rosalyn Clemens (x3647)
(Revised)
...Title
Authorizing the disappropriation of $462,282.05 from the Operating Grants Federal Stimulus Fund; authorizing the operating transfer of existing NSP program income to the Community Development Block Grant (CDBG) Fund; authorizing the appropriation and expenditure of $462,282.05 to the CDBG Fund for CDBG activities; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The city of Toledo was awarded $10,150,840 in 2010 under HUD NSP 2 to fund work in declining neighborhoods heavily hit by foreclosures during the Great Recession. The NSP 2 regulations required that all income derived from the sale or recapture of project funds (i.e. program income) was to be used for additional NSP 2 activities.
Due to the wind down and closeout of NSP activities, HUD is allowing grantees to transfer existing NSP program income to CDBG. At this time, HUD has authorized the City of Toledo to reallocate remaining NSP 2 program income funds to be used for Community Development Block Grant (CDBG) activities. This ordinance authorizes the re-appropriation of NSP 2 funds to CDBG and further authorizes the expenditure of same for eligible CDBG activities.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $462,282.05
- The expenditure budget line item: 2015-5G46000NSPXFR
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)?: no
- Is this a capital project (yes/no)? no
- If yes, is it new or existing (new/existing)? n/a
- What section of the City’s Strategic Plan does this support:
o Excellence in Basic Services (yes/no) yes
o Quality Community Investment (Livable City, Development) (yes/no) yes
o Workplace Culture & Customer Service (yes/no) no
o Environment (yes/no) no
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the disappropriation of $462,282.05 is authorized from the Operating Grants Federal Stimulus Fund, Account Code 2017-5G9NSP2STDNSP.
SECTION 2. That the appropriation of $462,282.05 is authorized to Account Code 2017-16200-558100-5G9NSP2STDNSP; and the operating transfer of existing NSP program income is authorized to the Community Development Block Grant Fund, Account Code 2015-16200-408690-5G46000NSPXFR.
SECTION 3. That an appropriation from the unappropriated balance of the Community Development Block Grant Fund in the amount of $462,282.05 is authorized to Account Code 2015-16200-5G46000NSPXFR; and further authorizing the expenditure of same for CDBG eligible activities.
SECTION 4. That the mayor is authorized to accept bids and award contracts for the purposes authorized in Section 3 upon such terms and conditions as approved by the Director of Neighborhoods and the Director of Law.
SECTION 5. That the Finance Director is authorized to draw his warrant or warrants against the above listed Account Codes in an amount not to exceed that authorized above in payment of the above authorized obligations upon presentation of the proper voucher or vouchers.
SECTION 6. That this Ordinance is declared to be an emergency measure and shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that same is necessary for the immediate preservation of the public peace, health, safety, and property, and for the further reason that this ordinance must be immediately effective in order to timely reallocate funds for CDBG eligible activities.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council