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CITY OF SAN LEANDRO <br />STAFF REPORT <br />DATE: December 7, 2009 <br />TO: Stephen L. Hollister, City Manager <br />FROM: Luke Sims, Community Development Director <br />BY: Steve Hernandez, Housing Specialist I `=~ <br />Tom Liao, Housing/CDBG Manager (Z <br />SUBJECT PROJECT/PROJECT DESCRIPTION: <br />APPROVED AND <br />FORWARDED <br />TO CITY COUNCIL <br />Stephen L. Hollister <br />City Manager <br />RESOLUTION APPROVING FUNDING AGREEMENT BETWEEN THE CITY OF SAN <br />LEANDRO AND THE COUNTY OF ALAMEDA FOR THE PURPOSE OF <br />IMPLEMENTING ROUND 2 OF THE NEIGHBORHOOD STABILIZATION PROGRAM <br />CREATED THROUGH THE FEDERAL AMERICAN RECOVERY AND REINVESTMENT <br />ACT OF 2009 <br />SUMMARY AND RECOMMENDATION <br />Staff recommends that the City Council adopt a resolution approving the Funding Agreement <br />with Alameda County for Round 2 of the Neighborhood Stabilization Program funds that were <br />authorized through the American Recovery and Reinvestment Act of 2009, signed into law by <br />President Obama in February 2009, and authorizing the City Manager to execute all related <br />documents. <br />BACKGROUND <br />The resolution accompanying this report pertains to entering into a Funding Agreement with the <br />County of Alameda as required by HUD for receipt of Neighborhood Stabilization Program <br />Round 2 ("NSP2") funds made available when President Obama signed the stimulus package in <br />February 2009. Nine (9) cities in the county, including San Leandro, and the County entered <br />into a joint consortium application to HUD for these funds on July 1, 2009. The Consortium <br />application was submitted to HUD on July 17, 2009. HUD will release information on which <br />applications were funded in early December. However, HUD required a more formal Funding <br />Agreement be entered into by December 1, 2009 to be eligible for the funding. Should the <br />consortium application be awarded funds, the City may apply for NSP2 funds from Alameda <br />County, which is the lead administrator. The City will only be permitted to use NSP2 funds for <br />eligible activities in the City's two (2) eligible census tracts. <br />DISCUSSION <br />The Neighborhood Stabilization Program was originally signed into law by former President <br />Bush on July 30, 2008 as part of the Housing and Economic Recovery Act (HERA). Additional <br />