Title
Resolution authorizing the awarding of Neighborhood Stabilization Program (NSP) funds to the City of West Allis from the Wisconsin Department of Commerce.
Body
WHEREAS, the Wisconsin Department of Commerce ("Commerce") received $38.9 million in
Neighborhood Stabilization Program ("NSP") funds from the U.S. Department of Housing and Urban Development ("HUD"); and,
WHEREAS, through Resolution No. R-2009-0249, the Common Council authorized the City of West Allis to enter into an Intergovernmental Agreement with Milwaukee County, City of Milwaukee and City of Cudahy in the creation of a Milwaukee County Regional Consortium, who was awarded $1.3 million in NSP funds from Commerce in May 2009; and,
WHEREAS, Commerce has awarded the consortium an additional $1,997,556, with $1,487,739 being awarded specifically to the City of West Allis; and,
WHEREAS, $660,000 of the award will be allocated to the acquisition/rehabilitation/resale/direct homeownership assistance of four (4) foreclosed-upon single-family homes and the staff time and resources to deliver the projects; and,
WHEREAS, $827,739 of the award will be allocated towards the acquisition/resale of foreclosed-upon multi-family properties and the staff time and resources to deliver the projects; and,
WHEREAS, the City of West Allis is required to fund all NSP-related expenses upfront, and will then be reimbursed by Commerce.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of West Allis hereby approves the award of $1,487,739 of Neighborhood Stabilization Program (NSP) funds to the City of West Allis through the awarding of $1,997,556 to the Milwaukee County Regional Consortium from the Wisconsin Department of Commerce.
BE IT FURTHER RESOLVED, that the Common Council of the City of West Allis hereby approves the City of West Allis to fund all NSP-related expenses upfront, and the City will in turn be reimbursed by Commerce.
BE IT FURTHER RESOLVED, that the Direct...
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