2011-773 RESOLUTION NO. 2011 -773
A RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION WITH THE
WISCONSIN DEPARTMENT OF COMMERCE
FOR NEIGHBORHOOD STABILIZATION PROGRAM 3 (NSP3) GRANT FUNDING
WHEREAS, the Wall Street Reform and Consumer Protection Act (Dodd -Frank Act) of
2010 created the Neighborhood Stabilization Program 3 (NSP3) for emergency
assistance for redevelopment of abandoned and foreclosed homes and residential
properties; and
WHEREAS, funds may be used to acquire, rehabilitate, demolish, and redevelop
foreclosed and abandoned residential properties that might otherwise become sources
of abandonment and blight within their communities; and
WHEREAS, the State of Wisconsin has received a total of $5,000,000 to implement a
NSP 3 Program on a state -wide basis; and
WHEREAS, funding will be allocated by the State to the areas of greatest need,
including those with the greatest percentage and number of home foreclosures; the
highest percentage of homes financed by subprime mortgage related loans; and
identified as likely to face a significant rise in the rate of home foreclosures; and
WHEREAS, the City of Janesville has a need for Neighborhood Stabilization funds as
evidenced by the number of home foreclosures in our community, our vacancy rate, and
our unemployment rate; and
WHEREAS, there is no local match requirement for NSP, however, grantees are
encouraged to use other sources of funds to complement the proposed activities under
NSP and contribute to a comprehensive community development/neighborhood
redevelopment project which will lead to neighborhood stabilization; and
WHEREAS, the recently approved Neighborhood Plans for the Historic Fourth Ward
and Look West neighborhoods support housing redevelopment; and
WHEREAS, the Common Council of the City of Janesville find that it is in the best
interest of the city, its properties, businesses, and overall community to allocate staff
and funding resources, such as this grant if awarded to the City of Janesville, towards
neighborhood stabilization efforts; and.
WHEREAS, the City is seeking up to $1,000,000 in funding through the NSP 3 Grant to
be used for neighborhood stabilization efforts.
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of
Janesville that the City Manager and /or his designee is /are hereby authorized and
directed to submit an application to the Wisconsin Department of Commerce for said
NSP3 Grant including, but not limited to, all certifications; and that the City Manager
and /or his designee is /are authorized to act in connection with the application, to
provide such additional information, and to take other actions from time to time and at
any time as may be required and /or desirable to administer the program in accordance
with all applicable State and Federal regulations; and
BE IT FURTHER RESOLVED, that the City Manager and his designees are hereby
authorized to negotiate, draft, prepare, execute, file, and modify such other documents,
papers, and agreements ancillary and /or pertaining thereto and, from time to time, to
take and /or make whatever other minor actions and /or minor modifications to the above
described agreements and processes as the City Manager and /or his designee may
deem necessary and /or desirable to effectuate the purposes of such grant, agreements,
and /or the intent of this Resolution.
ADOPTED: February 14, 2011 Motion by: Rashkin
Second by: Steeber
APPROVED: Councilmember Aye Nay Pass Absent
Brunner X
McDonald X
/.I ,l Perrotto X
ric J /: itt, City Manager Rashkin X
Steeber X
ATT' ST: Truman X
Voskuil X
. ,_ � //■ i/
Je- Ann Wulf, City Clerk- Treasure
APPROVED AS TO FORM: /
Wald Klimczyk, City Attorney
Proposed by: Neighborhood Services Director
Prepared by: Neighborhood Services Director and :
City Attorney