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Funding Agreement for the <br />Neighborhood Stabilization Program 2 3 December 7, 2009 <br />• Establish a budget and allocation far the use of the funds; <br />• Require the County to report out on outcomes of the NSP2 Grant and all activities funded <br />by the Grant; <br />• Establish Program requirements and timetables for completion of NSP2 activities; <br />• The County will undertake required environmental review for any funded activity. <br />Citizen Participation Process <br />As the lead applicant, the County of Alameda adhered to the citizen participation process <br />requirements stipulated in the Notice of Fund Availability (NOFA) for the Neighborhood <br />Stabilization Program 2. The requirements included providing a 10-day comment period prior to <br />the submission of the application to HUD and including the summary of the comments received <br />in the application package. <br />Fiscal Impact <br />There is no cost to the City for entering into the Consortium Agreement with the County. The <br />County will submit the application to the NSP2 Program on behalf of all the Consortium member <br />jurisdictions. <br />Budget Authority <br />N/A <br />Attachments: <br />None <br />CONCLUSION <br />Staff recommends that the City Council adopt a resolution approving the Funding Agreement <br />with Alameda County for Round 2 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 />