ORDINANCE NO. 176650

* Agreement with Peninsula Community Development Center for $50,000 for the development of affordable rental housing and home buyer opportunities for low income residents and provide for payment (Ordinance)

The City of Portland ordains:

SECTION 1. The Council finds that:

1.  The City of Portland has entered into an agreement with The Neighborhood Partnership Fund and The Enterprise Foundation to provide operating and project support for an array of community development activities through the formation of the Portland Neighborhood Development Support Collaborative (PNDSC).

2.  Peninsula CDC applied for funding through a competitive application process and was recommended to receive an investment in the amount of $50,000 in PNDSC funding for the period July 1, 2002 to June 30, 2003. The City of Portland is contributing $25,000 in Community Development Block Grant and $25,000 in HOME funding towards the award.

4.  There are funds available in the approved FY 2002-2003 CDBG budget for this agreement.

5.  The City now wishes to enter into an agreement in the amount of $50,000 with Peninsula CDC to support affordable housing and community development.

NOW, THEREFORE, the Council directs:

a. The Commissioner of Public Works is hereby authorized to enter into an agreement with Peninsula CDC for the development of affordable rental and home buyer opportunities in a form substantially in accordance with the agreement attached as Exhibit A (attached to original ordinance only).

b. The Mayor and City Auditor are hereby authorized to pay for said contract from the Housing and Community Development Fund.

Section 2. The Council declares that an emergency exists because delay in funding would interrupt Peninsula CDC's ability to provide affordable rental housing and home buyer opportunities; therefore, this ordinance shall be in force and effect from and after its passage by Council.

Passed by the Council, JUL 03 2002

GARY BLACKMER

Commissioner Erik Sten          Auditor of the City of Portland

Trell Anderson            By /S/ Susan Parsons

June 27, 2002                  Deputy

BACKING SHEET INFORMATION

AGENDA NO. 779-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 176650