ORDINANCE NO. 176821

* Agreement with National Development Council for $60,000 for technical assistance related to the financial management of eligible community development activities and provide for payment. (Ordinance)

The City of Portland ordains:

SECTION 1. The Council finds that:

1.  The City is the recipient of a variety of U.S. Department of Housing and Urban Development (HUD) funded grant programs, and a potential application under other HUD programs, which can support local community development activities in the areas of affordable housing and economic development.

2.  These programs allow the use of a variety of financing techniques such as the Section 108 program, CDBG Float Loans, Economic Development Initiatives grants, and other loan guarantee models.

3.  The City has limited experience with these financing tools and has identified the need to train key staff, identify projects and/or programs which are appropriate for these financing techniques, and secure professional assistance in packaging specific projects or programs using these mechanisms.

4.  The City conducted an RFP to solicit proposals from a variety of consultants and selected the National Development Council as the service provider for this project.

5.  Funding for this Agreement is included in the approved FY 02/03 Bureau of Housing and Community Development budget.

6.  The City now wishes to enter into an Agreement with the National Development Council to provide technical assistance and financial packaging services to the City in the area of alternative financing linked to the Community Development Block Grant.

NOW, THEREFORE, the Council directs:

a. The Commissioner of Public Works is hereby authorized to enter into an agreement with National Development Council for technical assistance related to the financial management of eligible community development activities 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 Community Development Block Grant Fund.

Section 2. The Council declares that an emergency exists because delay in funding would interrupt National Development Council's ability to provide technical assistance and the development of important community development projects; therefore, this ordinance shall be in force and effect from and after its passage by Council.

Passed by the Council, AUG 14 2002

GARY BLACKMER

Commissioner Erik Sten          Auditor of the City of Portland

Howard Cutler            By /S/ Susan Parsons

August 8, 2002                Deputy

BACKING SHEET INFORMATION

AGENDA NO. 1017-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 176821