HomeMy WebLinkAboutCity of Tamarac Resolution R-2010-1221
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Temp. Reso. # 11910
September 8, 2010
Page 1 of 4
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R2010- l; ;-
A RESOLUTION OF THE CITY OF TAMARAC, FLORIDA
APPROVING THE FIFTH AMENDMENT TO THE
COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG")
PROGRAM, FISCAL YEAR 2008 ANNUAL ACTION PLAN
NINTH PROGRAM YEAR TO PROVIDE FOR THE
REALLOCATION OF FUNDS WITHIN THE CITY'S
NEIGHBORHOOD STABILIZATION PLAN ("NSP");
AUTHORIZING AND DIRECTING THE CITY
ADMINISTRATION TO TAKE ACTION CONSISTENT WITH
THE INTENT OF THIS RESOLUTION; PROVIDING FOR
CONFLICT; PROVIDING FOR SEVERABILITY; AND
PROVIDING AN EFFECTIVE DATE.
**********
WHEREAS, the City of Tamarac ("City") is a Community Development Block Grant
("CDBG') entitlement community; and
WHEREAS, in October, 2008, the City received notification of an allocation through
the CDBG Neighborhood Stabilization Program in the amount of $4,772,218.00, pursuant
to the Housing and Economic Recovery Act (HERA) 2008, from the Department of
Housing and Urban Development; and
WHEREAS, on November 26, 2008, the City Commission adopted Resolution No.
R-2008-175, which authorized the First Amendment to the Community Development Block
Grant ("CDBG') Program, Fiscal Year 2008 Annual Action Plan Ninth Program Year to
provide for the adoption of the Neighborhood Stabilization Plan ("NSP"); and
Temp. Reso. # 11910
September 8, 2010
Page 2 of 4
WHEREAS, on May 27, 2009, the City Commission adopted Resolution No. R-
2009-72, which authorized the Second Amendment to the Community Development Block
Grant ("CDBG") Program, Fiscal Year 2008 Annual Action Plan Ninth Program Year to
provide for the allocation of funds received pursuant to the American Recovery and
Reinvestment Act of 2009 ("CDBG-R Funds"); and
WHEREAS, on January 6, 2010, the City Commission adopted Resolution No. R-
2010-20, which authorized the Third Amendment to the Community Development Block
Grant ("CDBG") Program Fiscal Year 2008 Annual Action Plan ninth program year to
provide for reallocation of funds to be used as part of the City's Neighborhood Stabilization
Program ("NSP"); and
WHEREAS, on April 14, 2010, the City Commission adopted Resolution No. R-
2010-45, which authorized the Fourth Amendment to the Community Development Block
Grant ("CDBG") Program Fiscal Year 2008 Annual Action Plan ninth program year to
provide for reallocation of funds to be used as part of the City's Neighborhood Stabilization
Program ("NSP") and an increase to the down payment assistance for individuals in the
81-120% income category; and
WHEREAS, the Community Development Department has prepared this Fifth
Amendment to the CDBG Fiscal Year 2008 Annual Action Plan Ninth Program Year to
provide for the reallocation of funds to be used as part of the City's Neighborhood
Stabilization Plan ("NSP"); and
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Temp. Reso. # 11910
September 8, 2010
Page 3 of 4
WHEREAS, the City Commission finds that it is in the best interest of the citizens
and residents of the City of Tamarac to approve this Fifth Amendment to the CDBG Fiscal
Year 2008 Annual Action Plan.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA that:
SECTION 1: "Whereas" clauses are hereby ratified and confirmed as being true
and correct and are hereby incorporated herein and made a specific part of this
resolution.
SECTION 2: The City Commission of the City of Tamarac hereby approves the
Fifth Amendment to the CDBG Program Fiscal Year 2008 Annual Action Plan Ninth
Program Year for the reallocation of funds used by the City of Tamarac: for the
Neighborhood Stabilization Program, as provided in Exhibit "A", which is attached hereto
and incorporated herein by reference.
SECTION 3: All appropriate City officials are hereby authorized and directed to
take any and all action necessary to effectuate the intent of this Resolution.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
SECTION 5: If any clause, section, other part or application of this Resolution is
held by any court of competent jurisdiction to be unconstitutional or invalid, in part or
application, it shall not affect the validity of the remaining portions or applications of this
Resolution.
Temp. Reso. # 11910
September 8, 2010
Page 4 of 4
SECTION 6: This resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED BY TH CITY COMMISSION OF THE CITY OF TAMARAC,
FLORIDA THIS k DAY OF , 2010.
ATTEST:
I HEREBY CERTIFY that I
Have approved this
REP9LUTION as to form.
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SAM GO N
CITY ATT RNEY
CITY OF TAMARAC, FLORIDA
��20-
BETH TALABISC , MAY R
B. TALABISCO
P. BUSHNELL
'
M. GOMEZ_.->
D. GLASSER
H. DRESSLER
1
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CITY OF TAMARAC
FY 2008-2009 Neighborhood Stabilization Program (NSP)
Substantial Action Plan Amendment
through the
U.S. Department of Housing and Urban Development (HUD)
under the Community Development Block Grant (CDBG)
Program
Prepared by:
City of Tamarac
Community Development department
Housing Division
7525 NW 88t" Avenue
Tamarac, FL 33321
www.tamarac.or
Original Submission December 2008
NSP Amendment — September 2010
(5t" to FY 2008-2009 Annual Action Plan)
TABLE OF CONTENTS
A. Areas of Greatest Need
B. Distribution and Uses of Funds
C. Definitions and Descriptions
D. Low Income Targeting
E. Acquisition & Relocation
F. Public Comment
G. NSP Information by Activity
H. Total Budget
I. Performance Measures
Page
4
6
6
8
9
9
10
15
16
A. AREAS OF GREATEST NEED
Provide summary needs data identifying the geographic areas of greatest need in
the grantee's jurisdiction.
Tamarac has approximately 1,400 properties in some state of foreclosure for any given
month, consisting of 200-350 bank owned properties. Several factors were used when
determining the areas of greatest need within the City's jurisdictional boundaries.
Two sources of data were used to determine areas of greatest need within the City.
HUD Data reported an estimated foreclosure risk score by census tract as well as
an 18 month predicted underlying problem of foreclose rate. With this information,
the City determined that most of the areas with a Estimated Foreclosure
Abandonment Risk score of 10 or Predicted 18 Month Underlying Problem
Foreclosure rate of 10% or higher where the same areas identified by the second
data source so as to confirm the areas of greatest need.
These census tracts are as follows:
502.02
503.05
204.06
204.10
601.05
601.06
601.07
601.12
The second source of data was Foreclosure Logic, a website that provides
foreclosure data by area. With the data from this website, our GIS division was able
to extract two important factors:
0 % of bank owned foreclosed properties within each residential sub-
division.
• % of total foreclosures (properties at any stage of foreclosure) within each
residential sub -division.
To identify areas of greatest need, a threshold of 15% combined foreclosure rate
within any given sub -division was set. This figure represents the percentage of
foreclosures at any stage, and bank owned foreclosures that have reached 15% of
the total units within the sub -division.
The census tracts for these sub -divisions are as follows:
502.02
503.05
204.06
204.10
601.06
601.11
601.12
NEIGHBORHOOD STABILIZATION PROGRAM (NSP)
ORIGINAL FY 2008-2009 ANNUAL ACTION PLAN
SUBSTANTIAL AMENDMENT- December 2008
NSP Amendment — September 2010
Jurisdiction: NSP Contact Person:
City of Tamarac, FL
Angela Bauldree
Address:
7525 NW 88 Avenue
Tamarac, FL 33321
Website: www.tamarac.org Telephone #
(954) 597-3539
Fax #
(954) 597-3540
Email:
angelab@tamarac.org
This section will address the specific requirements set forth in:
Federal Register Part III — Department of Housing and Urban Development Notice
of Allocations, Application Procedures, Regulatory Waivers Granted to and
Alternative Requirements for Emergency Assistance for Redevelopment of
Abandoned and Foreclosed Homes Grantees under the Housing and Economic
Recovery Act, 2008; Notice
And
Public law 110-289 — July 30, 2008 Title III -Emergency Assistance for the
Redevelopment of Abandoned and Foreclosed Homes Section 2301
Additionally, any other requirements and regulations handed down by the
Department of Housing and Urban Development (HUD) will also be adhered to.
The City of Tamarac was allocated $4,772,218.00 from the Neighborhood Stabilization
Program funded in September 2008. Below describes the City's plan to utilize these funds
and addresses the substantial action plan amendment requirements of Section 2301 ( c )
( 2 ) of Housing Economic Recovery Act, 2008 (HERA).
Aside from obvious key factors relating to the sub -prime mortgage crisis (interest only
loans, balloon loans, adjustable rate loans (ARM), and other predatory loans) Tamarac
sees other patterns affecting current foreclosure numbers.
One clear factor was that several of the sub -divisions within Tamarac that have higher
rates of foreclosure than others are also the same ones that were severely affected during
the 2005 hurricane season. These sub -divisions had homes damaged worse than those in
other areas of the City. Additionally they may have endured increases in association fees,
assessment fees and insurance hikes.
Sub -divisions identified that exceed a 15% threshold of foreclosures are as follows:
Jasmine at Tamarac 57%
Cypress Walk 51 %
Westwood Condominium 42%
Southgate Condominium
30%
Arbor Keys
28%
Heathgate
28%
Riverside
24%
PRD Subdivision
21 %
Lakeside
19%
Shaker Village
17%
Catalina Isles
16%
Caporella Townhomes
16%
The census tracts identified as areas of greatest need are as follows and will be areas to
which the activities are allowed:
502.02
503.05
204.06
204.10
601.05
601.06
` 601.07
601.11
601.12
B. DISTRIBUTION AND USES OF FUNDS
Provide a narrative describing how the distribution and uses of the grantee's NSP
funds will meet the requirements of Section 2301 (c)(2) of HERA that funds be
distributed to the areas of greatest need, including those with the greatest
percentage of home foreclosures, with the highest percentage of homes financed
by a subprime mortgage related loan, and identified by the grantee as likely to face
a significant rise in the rate of home foreclosures.
Distribution of funds to the identified areas of greatest need will be accomplished by
providing down payment/subsidy and rehabilitation assistance to those purchasing in
areas of greatest need as listed above is Section A.
The data collected by both HUD and Foreclosure Logic addresses the three stipulated
categories as well as other factors indicated above.
The City anticipates assisting approximately 60 households in the purchase and
rehabilitation of foreclosed properties.
C. DEFINITIONS AND DESCRIPTIONS
Definition of "blighted structure" in context of state or local law.
1) Blighted Structure:
A structure is blighted when it exhibits objectively determinable signs of
deterioration sufficient to constitute a threat to human health, safety, and public
welfare.
Properties identified for demolition will meet one or more of the
following criteria as a blighted structure:
1. Building Deterioration
2. Site Deterioration or site deficiencies
3. Unsanitary and unsafe conditions and incompatible uses
4. Six or more ownership parcels per block
5. Buildings greater than 40 years of age
6. Presence of closed/vacant buildings
7. Presence of vacant lots
8. Buildings in violation of property maintenance code violations
9. Presence of buildings scheduled for demolition
Definition of "affordable rents": Note: Grantees may use the definition they have
adopted for their CDBG program but should review their existing definition to
ensure compliance with NSP program -specific requirements such as continued
affordability.
2) Affordable Rents:
Those requiring not more than 30 percent of an income cutoff defined in relation to
Low -Moderate Area Median Income (AMI).
Tamarac is not implementing any rental activity with NSP funds.
Describe how the grantee will ensure continued affordability for NSP assisted
housing.
3) Continued Affordability
Each activity will have a deferred loan component as follows to encourage residents
to stay in their homes for an extensive affordability time period:
Financial Mechanism
Down Payment/Subsidy Assistance
30 Years Total
Years 1 — 5
Not Prorated
10% Shared Equity
Years 6 —10
Not Prorated
5% Shared Equity
Years 11- 30
Prorated down 5% each year
Rehabilitation after Down Payment/Subsidy Assistance
15 Years Maximum
<$15,000
5 Year Deferred Loan
Year 1 — 5
Prorated 20% per year
$15,000 - $40,000
10 Year Deferred Loan
Years 1 — 5
Not Prorated
Years 6 — 10
Prorated 20% per year
>$40,000
15 Year Deferred Loan
Years 1 — 5
Not Prorated
Years 6 — 15
Prorated 10% per year
Describe housing rehabilitation standards that will apply to NSP assisted activities.
4) Housing Rehabilitation Standards
All housing rehabilitation work will follow Broward County Housing Standards, and
Florida Building Code as well as City Code.
D. LOW INCOME TARGETING
Identify estimated amount of funds appropriated or otherwise made available under
the NSP to be used to purchase and redevelop abandoned or foreclosed upon
homes or residential properties for housing individuals or families whose incomes
do not exceed 50 percent of area median income: $1,762,907,34 (5`" Amendment)
Specific appropriations to households whose income does not exceed 50% AMI will
be implemented in two tiers:
1) Down Payment/Subsidy Assistance
A household whose income is below 50% AMI will be eligible to
receive up to 70% of the purchase price in assistance funds.
That amount is estimated based on the average cost of a Tamarac
property of $164,000 to be approximately $114,000 in down
payment/subsidy.
2) Rehabilitation Assistance
A household whose income is below 50% AMI will be eligible to
receive up to $60,000 towards the rehabilitation of a foreclosed upon
property purchased through the down payment/subsidy assistance
activity.
This tier will be added to tier #1 on properties that require
rehabilitation; some properties will not require rehabilitation work.
The Area Median Income chart for Broward County is as follows:
Florida
2008 Miami -Fort Lauderdale -Miami
Beach MSA
Fort Lauderdale HMFA
Family 1 2
3
4
5
6
7 _
8
50% 24,900 28,500
32,050
35,600
38,450
41,300
44,150
47,000
80% 39,850 45,550
51,250
56,950
61,500
66,050
70,600
75,150
Median: 64,000
120% 59,760 68,400
76,920
85,440
92,280
99,120
105,960
112,800
E. ACQUISITION & RELOCATION
Indicate whether grantee intends to demolish or convert any low and moderate
income dwelling units (i.e., <80% of area median income).
The city will not be undertaking any acquisition and relocation activities.
F. PUBLIC COMMENT
Provide a summary of public comments received to the proposed NSP Substantial
Amendment.
Advertisement for 15-day review period on Action Plan November 9, 2008
proposed NSP activities
Beginning of 15-day public review period November 11, 2008
End of 15-day public review period November 25, 2008
No comments received during public review period.
Public Hearing with City Commission for approval of NSP activities November 26, 2008
No comments received during November 26th public hearing.
Beginning of 2nd 15 day public review period December 10, 2008
End of 2nd 15 day review period December 24, 2008
No comments received during 2nd public review period.
Beginning of 30-day public review period- NSP Amendment January 10, 2010
End of 30-day public review period- NSP Amendment February 10, 2010
No comments received during public review period.
NSP Amendment City Commission Approval February 10, 2010
& Public Hearing
No comments received during February 10t" Public Hearing.
Beginning of 30-day public review period- NSP Amendment March 1, 2010
End of 30-day public review period- NSP Amendment March 30, 2010
No comments received during public review period.
NSP Amendment City Commission Approval April 14, 2010
& Public Hearing
No comments received during Public Hearing.
Beginning of 15-day public review period- NSP Amendment August 23, 2010
End of 15-day public review period- NSP Amendment September 6, 2010
No comments received during public review period.
NSP Amendment City Commission Approval September 7, 2010
& Public Hearing
No comments received during Public Hearing.
NSP INFORMATION BY ACTIVITY
All activities will begin once notice to proceed has been received from the Department of
Housing and Urban Development (HUD). Per HUD, at the Washington Summit, HUD
expects to respond to all applicants by February 2009. The activities will begin at that
point with an 18 month time frame for commitment of funds.
1) Activity Name: Financing Mechanism -Down Payment/Subsidy Assistance
Activity Type. NSP Eligible Use CDBG Eligible Activity
Financing Mechanism 24 CFR 570.201(a)
Direct Homeownership
Assistance
National Objective: Benefit to low -moderate income persons -housing
activity.
Project Start_ Date:
Project End Date:
Responsible Organization:
activity in-house.
March 20, 2009
September 19, 2010
March 19, 2013
Encumbrance of Funds
Expenditure of Funds
The City's Housing Division will administer this
Location Description: Eligible applicants will be required to purchase
foreclosed properties within the specified areas of greatest need listed in below.
(scattered site locations).
Census Tracts:
502.02
503.05
204.06
204.10
601.05
601.06
601.07
601.12
Activity Description: This activity is to assist first time homebuyers with
the purchase of a foreclosed property. The financial assistance will be in the form
of down payment assistance and subsidy assistance to bridge the gap between the
first mortgage ability and purchase price. The front end mortgage ratio should not
exceed 32% of a household's income.
Total assistance amount is as follows: Approximate
# of units
50% AMI and below Up to 70% Purchase Price 10 Units
51 % - 80% AMI Up to 40% Purchase Price 28 Units
81 % - 120% AMI Up to 25% Purchase Price 3 Units
Deferred Loan-30 Years Total
Years 1 — 5
Not Prorated
10% Shared Equity
Years 6 — 10
Not Prorated
5% Shared Equity
Years 11- 30
Prorated down 5% each year
Housing Counseling services will be contracted out to HUD approved Counseling
agencies to meet the 8-hour required training for each homebuyer.
Additional real estate services may also be included in this activity to assist eligible
homebuyers in locating foreclosed upon residential properties, as well as locating
the seller or seller's agent.
All eligible home buying applicants will be educated on negotiations with regard to
discounts. Several considerations by the applicant may help determine the amount
of the discount such as length of time on the market (carrying costs), condition of
the property, costs associated with rehabilitation that may be required, and other
contributing factors. During the Realtor Workshop, as well as all Workshops and
contact with homebuyers, staff will stress the importance of discounts and work with
all parties to be sure discounts are considered to their maximum abilities.
NSP Amendment — January 2010
Per Docket No. 5255-N-02, this discount requirement has been reduced to 1
percent from the current market appraised value.
NSP Amendment -January 2010
As a result of Docket No. FR-5255-N-02, all language originally referring to
discounts will be deleted. Docket No. 5255-N-02 eliminates the 15 percent
aggregate discount requirement in Section Q.1.b of the October 6, 2008, original
notice. HUD reduced the minimum individual discount requirement from 5 percent
to 1 percent.
The City may conduct Housing Seminars to homebuyers after the eligibility process
to educate them on the program, home buying process, lending guidelines,
rehabilitation options, and any other home buying related activities.
Due to the fact this program will be available to City employees, Housing staff will
ensure proper procedural adherence to the Department of Housing and Urban
Development's Conflict of Interest regulation 24 CFR 570.611. All employee
applications seeking assistance under the NSP program will be forwarded to the
local Miami HUD Field Office requesting an "exception" on a case -by -case basis
approving said employee for assistance.
2) Activity Name: Financing Mechanism -Down Payment / Subsidy /
Rehabilitation Assistance
Activity Type: NSP Eligible Use CDBG Eligible Activity
Financing Mechanism 24 CFR 570.201(a)
Direct Homeownership
Assistance
National Obiective: Benefit to low -moderate income persons -housing
activity.
Project Start Date:
Project End Date:
Responsible Organization:
activity in-house.
March 20, 2009
September 19, 2010
March 19, 2013
Encumbrance of Funds
Expenditure of Funds
The City's Housing Division will administer this
Location Description: Eligible applicants that have purchased
foreclosed properties within the areas of greatest need listed below. (scattered site
locations).
Census Tracts:
502.02
503.05
204.06
204.10
601.05
601.06
601.07
601.12
Activity Description: This activity is to assist first time homebuyers with
the purchasing of a foreclosed property which also requires rehabilitation. The
financial assistance will be in the form of down payment assistance and subsidy
assistance to bridge the gap between the first mortgage ability and purchase price
followed by additional rehabilitation funds to bring the property up to current
code/building standards. This property will be brought up to current building code
standards, address any code deficiencies, as well as be equipped with energy star
products.
Total assistance amount is as follows:
Up to $60,000.00 per property.
Deferred Loan 15 Years Maximum
<$15,000
5 Year Deferred Loan
Year 1 — 5
Prorated 20% per year
$15,000 - $40,000
10 Year Deferred Loan
Years 1 — 5
Not Prorated
Years 6 — 10
Prorated 20% per year
>$40,000
15 Year Deferred Loan
Years 1 — 5
Not Prorated
Years 6 — 15
Prorated 10% per year
Approx. 41 Units
Due to the fact this program will be available to City employees, Housing staff will
ensure proper procedural adherence to the Department of Housing and Urban
Development's Conflict of Interest regulation 24 CFR 570.611. All employee
applications seeking assistance under the NSP program will be forwarded to the
local Miami HUD Field Office requesting an "exception" on a case -by -case basis
approving said employee for assistance.
3) Activity Name: Demolition
Activity Type:, NSP_ Eligible Use CDBG Eligible Activity
Demolition 24 CFR 570.201(d)
National Objective: Spot Blight
Project Start Date: March 20, 2009
Project End Date: September 19, 2010 Encumbrance of Funds
March 19, 2013 Expenditure of Funds
Responsible Organization:
activity in-house.
The City's Housing Division will administer this
Location Description: Scattered site locations as determined by Code
Compliance Division, Building Department and Unsafe Structure Board that are
located within the areas of greatest need listed below.
Census Tracts:
502.02
503.05
204.06
204.10
601.05
601.06
601.07
601.12
Activity Description: This activity will address the need to demolish an
abandoned or foreclosed property that exhibits objectively determinable signs of
deterioration sufficient to constitute a threat to human health, safety, and public
welfare. A lien will be placed on the property for the amount of demolition.
Demolition will only occur in the case of abandoned/vacant residential properties.
No occupied structures will be demolished utilizing NSP funds; therefore, relocation
assistance will not be necessary.
Properties identified for demolition will meet one or more of the
following criteria as a blighted structure:
1. Building Deterioration
2. Site Deterioration or site deficiencies
3. Unsanitary and unsafe conditions and incompatible uses
4. Six or more ownership parcels per block
5. Buildings greater than 40 years of age
6. Presence of closed/vacant buildings
7. Presence of vacant lots
8. Buildings in violation of property maintenance code violations
9. Presence of buildings scheduled for demolition
Approximately 1 Unit
G. TOTAL BUDGET
SP 1 ELIGIBLE ACTIVITY
. Financing Mechanisms < 50% AMI 51% AMI - ACTIVITY
120% AMI TOTAL
Financial Assistance to income $1,189,601.91 $1,511,901.60 $2,701,503.51
eligible households for down
payment/subsidy assistance.
Delivery of Services costs associated with activity to be factored into each household
assistance.
Financial Assistance to income $573,305.43 $1,153,409.06 $1,726,714.49
eligible households for down
payment/subsidy with home
rehabilitation assistance.
Delivery of Services costs associated with activity to be factored into each household
assistance.
. Demolition
Demolition of blighted structures. $4,000.00
rogram Administration 1 $340,000.00
AL $1,762,907.34 $2,665,310.66 $4,772,218.00
37% of Allocation to 50% or below AMI requirement = $1, 762, 907.34
The program administration of the Neighborhood Stabilization Program will be handled in-
house by the existing staff which is comprised of a full-time Housing Administrator and full-
time Housing Coordinator and two additional full-time temporary positions that will be
100% dedicated to the NSP activities. The appropriate portion of salaries of the existing
positions will be drawn based on the percentage of time spent on the NSP activities.
Program Income
NSP Amendment -January 2010
As a result of the Technical Revisions published by the U.S. Department of Housing and
Urban Development (HUD) dated June 19, 2009, Docket No. FR-5255-N-02, all references
to program income is revised to comply with said document.
Program Income generated from the activities within thin application (Financing
Mechanisms for Purchase Subsidy and Home Rehabilitation) shall be used in accordance
with the provisions of Section 2301 of the Housing and Economic Recovery Act of 2008.
Program Income generated by activities carried out pursuant to Section 2301(c)
(3)(B) and (E).
a) Program Income received before July 30, 2013, may be retained by the state or
unit of general local government if it is treated as additional CDBG funds and
used in accordance with the requirements of Section 2301.
b) As per Docket No. FR-5255-N-02, program income received after July 30, 2013
is not required to be returned to HUD for deposit in the Treasury.
Program Income received after 2013 will be returned into eligible activities
approved by HUD that prove to sustain the intent of the Neighborhood
Stabilization Program. However, the program income requirements of the
CDBG program are still applicable to income directly generated from the use
of NSP funds are received by grantees or sub recipients.
1»:7 &M JI T-1l1L«l :1111 Lli 14_1:1M�
Activity Financing Mechanism -Down Payment/Subsidy Assistance
Approx.
50% AMI and below Up to 70% Purchase Price 10 Units
51 % - 80% AMI Up to 40% Purchase Price 28 Units
81 % - 120% AMI Up to 25% Purchase Price 3 Units
Activity Financing Mechanism -Down Payment / Subsidy / Rehabilitation
Assistance
Approx.
Total Number of units all income categories 41 Units
Activity Demolition Approx.
Total Number of properties 1 Property
1:14101AIIk'lr
NSP activities will be reported utilizing the DRGR system as required by the Department of
Housing and Urban Development (HUD). Quarterly reports documenting number of units,
households by income, expenditures, and other NSP/DRGR related information will be
completed by the Housing Division.