Board Bill Number 261 In Session 2008-2009

Summary

BOARD BILL NO. 261 INTRODUCED BY: Alderman Alfred Wessels, Jr. An ordinance, recommended by the Board of Estimate and Apportionment, authorizing the Mayor of the City of St. Louis, on behalf of the City, to submit a Substantial Amendment to the 2009 Annual Action Plan to the United States Department of Housing and Urban Development ("HUD") as required to apply for City of St. Louis entitlement funding (hereinafter referred to as "NSP Entitlement Funding") under Title III of Division B of the Housing and Economic Recovery Act of 2008, for the purpose of assisting in the redevelopment of abandoned and foreclosed homes under the Emergency Assistance for Redevelopment of Abandoned and Foreclosed Homes heading, hereinafter referred to as the Neighborhood Stabilization Program ("NSP"), further authorizing the Mayor of the City of St. Louis, on behalf of the City, to submit an application to the State of Missouri for the purpose of securing for the City additional NSP funding awarded to the State of Missouri (hereinafter referred to as "State NSP Funding"), authorizing and directing the Mayor and the Comptroller on behalf of the City to enter into and execute an agreement or agreements with HUD for the receipt of NSP Entitlement Funding and an agreement or agreements with HUD and/or the State of Missouri and/or agencies and/or commissions thereof for State NSP Funding, appropriating the sum of Five Million Two Hundred Seventy-Eight Thousand Five Hundred Forty-Five Dollars ($5,532,792) which the City has been allocated in NSP Entitlement Funding; appropriating the lesser of Ten Million Dollars ($10,000,000) or such lesser amount of State NSP Funding as may be awarded to the City; authorizing and directing the Director of the Community Development Administration ("CDA") to contract with municipal agencies, non-profit corporations and other entities, as necessary for the expenditure of NSP Entitlement Funding and State NSP Funding; and directing the Comptroller to issue warrants thereon upon the City Treasury; and containing an emergency clause.

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