HomeMy WebLinkAboutMemoCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO :
FROM :
Pedro G. Hernandez, P.E.
City Manager
George Mensah, Director
Department of Community Development
DATE:
SUBJECT:
October 2, 2008
FILE :
Neighborhood Stabilization Program
Action Plan Amendment
REFERENCES:
ENCLOSURES:
On September 29, 2008, the U.S. Department of Housing and Urban Development ("HUD")
published notice No.FR-5255-N-01 advising the public of the new Neighborhood Stabilization
Program ("NSP") allocation formula and amounts in compliance with Title III of Division B of the
Housing and Economic Recovery Act of 2008.
The NSP will provide emergency assistance to the City of Miami to acquire foreclosed
properties that might otherwise become sources of abandonment and blight and rehabilitate,
resell, or redevelop these properties to stabilize neighborhoods and stem the decline of house
values of neighboring homes.
The City of Miami has been awarded $12,063,702 for the implementation of the NSP. HUD has
mandated that all interested recipients submit an amended action plan for FY08-09 prior to
allocating the NSP funds.
Your signature is required on the attached application and certification which will become part of
the amended action plan package.
cc. Roberto Tazoe, Assistant Director