CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Lisa Kremer, Deputy County Manager Dagny Stapleton, Community Housing Administrator |
Recommendation:
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Approve and authorize the Chair to sign the First Amended and Restated Interlocal Agreement to Grant Neighborhood Stabilization Program Third Round (NSP3) Funds to the Southern Nevada Regional Housing Authority (SNRHA) (CDFA#14.256) or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2011.000 |
Fund Name: |
HUD & State Housing Grants |
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Fund Center: |
1020212000 |
Funded PGM/Grant: |
1020.FEDNSP3.2011 |
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Amount: |
No fiscal impact |
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Description: |
Amending and reinstating the NSP3 Interlocal Agreement with Clark County and SNHRA |
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Additional Comments: |
N/A |
BACKGROUND:
On March 9, 2011, Clark County signed an agreement with the U.S. Department of Housing and Urban Development (HUD) to receive $20,253,261 in Federal Neighborhood Stabilization Program Third Round (NSP3) funds based upon HUD approval of the NSP3 Amendment to the FY 2010 Action Plan also approved by the Board of County Commissioners (Board) on February 15, 2011.
On October 18, 2011, Clark County entered into an Interlocal Agreement to grant $5,512,500 in NSP3 funds to the Southern Nevada Regional Housing Authority (SNHRA) for an acquisition and rehabilitation rental program in order to meet HUD's NSP3 requirement that a minimum of 25% of all NSP3 funds be used to assist households at or below 50% of area median income.
Two subsequent amendments to the Agreement were executed, to add additional funds in the amount of $750,000, to amend the allowed location for the purchase of homes and governing how funds were spent. Following the amendments the total amount of the Agreement to perform governmental functions and activities was $6,262,500.
Though the Agreement subsequently expired, in 2016 HUD requested that the Agreement be reinstated to ensure proper use of program income and reporting on the funding.
To address HUD's request and ensure that any program income from the NSP3 grant is used correctly, the Community Housing Office has worked with SNRHA to draft an amended and restated version of the Agreement and recommends Board approval. The amended and restated version of the Agreement outlines reporting requirements and requires that all program income fund replacement reserves up to $10,000.00 per unit. All other provisions of the Interlocal Agreement remain the same.