Board Bill Number 245 In Session 2010-2011

Summary

BOARD BILL NO. 245 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 2010 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-3 Entitlement Funding") under Section 1497 of the Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203, approved July 21, 2010) (Dodd-Frank Act) for additional assistance in accordance with the second undesignated paragraph under the heading "Community Planning and Development—Community Development Fund" in Title XII of Division A of the American Recovery and Reinvestment Act of 2009 (Pub. L. 111-5, approved February 17, 2009) (Recovery Act), as amended, for the purpose of assisting in the redevelopment of abandoned and foreclosed homes, hereinafter referred to as the Neighborhood Stabilization Program 3 ("NSP-3"), 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-3 funding awarded to the State of Missouri (hereinafter referred to as "State NSP-3 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-3 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-3 Funding, appropriating the sum of Three Million Four Hundred Seventy-Two Thousand Nine Hundred Fifty-Four Dollars ($3,472,954) which the City has been allocated in NSP-3 Entitlement Funding; appropriating the lesser of One Million Five Hundred Thousand Dollars ($1,500,000) 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-3 Entitlement Funding and State NSP-3 Funding; and directing the Comptroller to issue warrants thereon upon the City Treasury; and containing an emergency clause.

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