Title
Amending the Neighborhood Stabilization Program budgets.
Body
WHEREAS, by Resolution No. 09-715 the City Council approved a NSP2 grant agreement between HUD and the City and adopted a budget for such funds ("NSP2 Council Resolution") and
WHEREAS, on March 24, 2010 (Resolution No. 10-3/24-5) the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota ("HRA") authorized Strategic Acquisition Activities under NSP2 and approved a financing plan in a budget amendment ("NSP2 HRA Resolution") which acknowledged the NSP2 Council Resolution; and
WHEREAS, the City and HRA have received program income from the NSP programs that HUD and MHFA require be reinvested into these NSP programs; and
WHEREAS, the HRA Board of Commissioners determines there is a public purpose to reinvest the program income into the NSP programs;
NOW, THEREFORE, BE IT RESOLVED by the HRA Board of Commissioners as follows:
1. The HRA Board of Commissioners hereby approves the changes to the 2013 budgets in the amounts set forth in the attached budget amendment.
2. HRA staff and legal counsel are authorized and directed to take all actions needed to implement this Resolution.