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6. Authorize the City Manager, or his designee, to negotiate and enter into <br />any necessary contracts and/or agreements to implement the <br />Downpayment Assistance Program. <br />Recommended that the Community Redevelopment Agency: <br />1. Adopt Neighborhood Stabilization Program Mortgage Assistance Program. <br />2. Authorize the Executive Director to execute all documents relating thereto. <br />Recommended Action: <br />CITY COUNCIL ACTION <br />1. Approve a substantial amendment to the 2008-2009 Annual Action <br />Plan and authorize its submittal to the U.S. Department of Housing <br />and 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 <br />the 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 <br />Maintenance Program. <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br />1. Adopt Neighborhood Stabilization Program Mortgage Assistance <br />Program. <br />2. Authorize the Executive Director to execute all documents relating <br />thereto. <br />CRA AGENDA 7 NOVEMBER 17, 2008 <br />