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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />NOVEMBER 17, 2008 <br />TITLE: <br />FEDERAL NEIGHBORHOOD STABILIZATION <br />PROGRAM <br />,/ '~ <br />~ '~ -- <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Re~commerided <br />^ As Amended <br />^ Ordinance on 1st Reading <br />^ Ordinance on 2nd Reading <br />^ Implementing Resolution <br />^ Set Public He<~ring For <br />CONTINUED TO <br />FILE NUMBER <br />1. Approve a substantial amendment to the 2008-2009 Annual Action Plan <br />and authorize its submittal to the U.S. Department of Housing and <br />Urban Development. <br />2. Authorize the City Manager to execute a Neighborhood Stabilization <br />Program application for grant funds in the amount of $5,795,155. <br />3. Approve an Appropriation Adjustment recognizing $5,795,155 in <br />Neighborhood Stabilization Program grant funds and appropriating the <br />same. <br />4. Adopt Neighborhood Stabilization Program guidelines. <br />5. Authorize the issuance of a Request for Proposals for program <br />intermediaries. <br />6. Authorize the City Manager, or his designee, to negotiate and enter <br />into any necessary contracts and/or agreements to implement the <br />Downpayment Assistance Program. <br />7. Adopt a resolution establishing the Bank Owned Property Maintenance <br />Program. <br />80B-1 <br />