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HomeMy WebLinkAbout2009-07-27 09-250 RESOLVECOUNCIL ACTION Item No. u 4 - Date: July 27, 2009 Item/Subject RESOLVE, Appropriating $1,084,873 from the Maine Department of Economic and Community Development under the United States Department of Housing and Urban Development Neighborhood Stabilization Program Responsible Department: Community & Economic Development Commentary: The attached Resolve will appropriate $1,084,873 in funds from the State of Maine Department of Economic and Community Development under the U. S. Department of Housing and Urban Development Neighborhood Stabilization Program. The funds will support the purchase, rehabilitation, and resale of foreclosed properties in low to moderate income neighborhoods that are at or below 120% of Area Median Income. Work will begin once the Contract is accepted by the Maine Department of Economic and Community Development and the City of Bangor, which we expect to occur by the end of this month. Department Head Manager's Comments: City Manager Associated Information: Budget Approval: Finance Director Legal Approval: ity Solicitor Introduced for Passage X First Reading Page _ of _ X Referral to Finance 8-3-09 @ 7.30 a m �9 250 Assigned to Councilor - Stone July 27, 2009 CITY OF BANGOR (TITLE.) Resolve, Appropriating $1,084,873 from the Maine Department of Economic and Community Development under the United States Department of Housing and Urban Development Neighborhood Stabilization Program WHEREAS, on February 23, 2009, the City Council authorized the submission of an application to the Maine Department of Economic and Community Development for Neighborhood Stabilization Program funds in the amount of $1,084,873; and WHEREAS, the City has received notification that the application has been approved in the amount of $1,084,873; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT A $1,084,873 grant from the Maine Department of Economic and Community Development under the United States Department of Housing and Urban Development Neighborhood Stabilization Program is hereby appropriated for the purpose of purchasing, rehabilitating, and resale of foreclosed and abandoned residential properties. IN CITY COUNCIL July 27, 2009 First Reading Referral to Finance Committee Meeting of 8/3/09 at 7:30am t CITY CLERK IN CITY COUNCIL August 10, 2009 Pass d CITY CLERK RESOLVE (TITLE) Appropriating $1 _084„873 from the Maine Department of Economic and Community Development Neighborhood Stabilization Program Assigned to Councilor__ S"