Staff recommends approval of the Interlocal Agreement with Lake County, Government concerning the Neighborhood Stabilization Program I.
The Neighborhood Stabilization Program (NSP1) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. The program allows local governments to purchase and rehabilitate foreclosed and abandoned homes for resale. In addition, foreclosed rental properties can be purchased and renovated for rental use. The individuals targeted will be low, moderate and middle income (LMMI) households.
Once the Interlocal Agreement is signed monies can be used to purchase property for affordable housing. If the City acquires property through this program, the City will retain ownership and will have the ability to sell or lease property to low, moderate and middle income households. If the City decides to sell the property, the monies received from the sale will be placed in a housing account to use for future acquisition. If improvements are needed to help with the sale or leasing of the properties, the program does allow up to $15,000 for renovation.
This agreement would allow Lake County to perform NSP activities and expend funds within the City boundaries for the benefit of Leesburg citizens.
1. Approve Interlocal Agreement with Lake County to meet the requirements of the federally funded Neighborhood Stabilization Program; or
2. Such alternative action as the Commission may deem appropriate
All expenditures to perform program activities will be paid from program funds as developer’s fees. Developer fees are as follows, but not limited to property evaluations, maintenance of foreclosed properties, pro-formas and property management.
Department: Housing & Economic Dev.
Prepared by: Tracie Hodge
Attachments: Yes__X__ No ______
Advertised: ____Not Required ___X___
Attorney Review : Yes_X__ No ____
Reviewed by: Dept. Head ________
Finance Dept. ___________JB_____
Deputy C.M. ___________________
City Manager ___________________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING AN INTERLOCAL AGREEMENT WITH LAKE COUNTY GOVERNMENT TO PROVIDE FOR NEIGHBORHOOD STABILIZATION PROGRAM (NSP1) ACTIVITIES FOR LOW-INCOME, MIDDLE-INCOME AND MODERATE INCOME (LMMI) FAMILIES BOTH WITHIN THE CITY LIMITS AND THE UNINCORPORATED COUNTY UTILIZING NSP APPROPRIATIONS UNDER THE HOUSING AND ECONOMIC RECOVERY ACT OF 2008; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the Mayor and City Clerk are hereby authorized to execute an agreement with Lake County Government whose address is 315 West Main Street, Tavares, Florida 32778, for the Housing and Economic Recovery Act of 2008, the NSP notice, the Lake County Substantial Action Plan Amendment (application), the Award, the County Consolidated plan and all applicable State and Federal regulations and any other related grant program requirements. (RFP 09-0218)
1. The County is the lead entity and will administer the NSP and provide all grant administration and implementation of the NSP program for locations in the County and the City of Leesburg.
2. The City will provide the acquisition, repair, rehabilitation and resell of foreclosed and abandoned properties for the implementation of the NSP. This agreement shall remain in effect until the NSP funds and program income received are expended and the funded activities according to the City’s work plan have been completed.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the 27th day of July 2009.