Laserfiche WebLink
EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET , 2 <br /> 1ROJECT TITLE: 12/30/15 Briefing COUNCIL BILL# <br /> Amendment No. 2 to Agreement Consent Originating Department Planning <br /> with Everett Housing Authority 01/06/16 Action Contact Person Jan Meston <br /> for Neighborhood Stabilization First Reading Phone Number <br /> Program Second Reading FOR AGENDA OF 12/30/15 <br /> Third Reading <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> Subgrantee Agreement October 15, Amendment No.2 Legal,Planning <br /> 2009 as amended September 9,2010 <br /> Amount Budgeted -0- <br /> Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> In 2009 the City signed agreementNo. 08-F6407-004CA with the Washington State Department of <br /> Commerce for$546,899 in Neighborhood Stabilization Program 1 (NSP1)funds to address the impacts <br /> of foreclosed-upon homes or properties. In 2009 the City sub-granted these funds to the Everett Housing <br /> Authority,which in turn sub-granted$462,830.34 of the funds to Washington Home of Your Own to <br /> purchase and rent four properties to low-income persons. The City's understanding since 2009 has been <br /> that Washington Home of Your Own would retain the rental income from the properties and use it as <br /> additional Neighborhood Stabilization Property funds to benefit the four properties purchased under the <br /> agreement. <br /> The state Department of Commerce requires that this understanding be explicit in the agreement between <br /> the City and Everett Housing Authority. The rental income will be subject to all applicable requirements <br /> and regulations governing the use of Neighborhood Stabilization Program funds. Washington Home of <br /> Your Own will be required to report annually on the use of rental income, and the City will submit that <br /> information to the state Department of Commerce. <br /> riECOMMENDATION: <br /> Authorize the Mayor to sign Amendment No. 2 to the Neighborhood Stabilization Program Agreement <br /> between the City and the Everett Housing Authority. <br /> 5 <br />