Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a HOME agreement with National Housing Associates, Inc., for use of HOME funds for rehabilitation of Salem Village Apartments, at a cost not to exceed $400,000. [Div. of Grants and Special Programs, Gooding]
Summary
Authorization to execute HOME Agreement with National Housing Associates, Inc. for use of HOME Investment Partnerships Program funds for rehabilitation of the Salem Village Apartments. (L342-12) (Gooding/Moloney)
This is a request to execute HOME Agreement with National Housing Associates, Inc. for use of HOME Investment Partnerships Program funds in the amount of $400,000 for rehabilitation of the Salem Village Apartments.
Budgetary Implications: YES
Advance Document Review: Law/Risk Management
Fully Budgeted: Budget Amendments 4097, 4098, and 4099 are in process
Account Number: 3120-900247-0001-71101
This Fiscal Year Impact: $400,000
Annual Impact: $
Project: HOME_2008, HOME_2009, HOME_2010
Activity: H03
Budget Reference: 2008, 2009, 2010
Current Balance: Budget Amendments 4097, 4098, and 4099 are in process
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute the HOME agreement, which is attached hereto and incorporated herein by reference, with National Housing Associates, Inc., for use of HOME funds for rehabilitation of Salem Village Apartments.
Section 2 - That an amount, not to exceed the sum of $400,000, be and hereby is approved for payment to National Housing Associates, Inc., from account #3120-900247-71101, pursuant to the terms of the HOME agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
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