OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 28, 2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, I transmit herewith an ordinance implementing the
Neighborhood Stabilization Program 3.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
Mayor
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government under Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois and as such may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City has previously applied for and been awarded funds in the approximate amount of $55,238,017 (the "NSP I
Program Funds") from the United States Department of Housing and Urban Development ("HUD") pursuant to the provisions of the Housing and Economic Recovery Act of 2008, Public Law 110-289 - July 30, 2008, Title III -Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes, Section 2301 et seg, and the regulations promulgated pursuant thereto, as the same may be amended, restated or supplemented from time to time ("HERA"), and the Notice of Allocations, Application Procedures, Regulatory Waivers Granted to and Alternative Requirements for Emergency Assistance for Redevelopment of Abandoned and Foreclosed Homes under the Housing and Economic Recovery Act, 2008 issued by HUD and found at the Federal RegisterA/ol. 73, No. 194/Monday October 6, 2008/Notices, as the same may be hereafter amended, restated or supplemented from time to time (the "Regulations"); and
WHEREAS, the City has also previously applied for and was awarded funds in the amount of $98,008,384 (the "NSP II
Program Funds") from HUD pursuant to the authority of title XII of Division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5) (February 17, 2009), and the regulations promulg...
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