BY COUNCILOR STAUBER:
RESOLVED, that the proper city officials are authorized to make the following transfer of funds in the Federal Fund 260-020-5434, Project CD07HM, 2007 HUD-funded HOME accounts as set forth below:
STATEMENT OF PURPOSE: Northern Communities Land Trust (NCLT) has requested this transfer of funds due to current market conditions, along with the availability of units that can be rehabilitated and resold. The city homes program goal will be changed from two de-constructions/rebuilds with six new units, to only the six new construction units. Therefore, no units will be constructed on substandard lots. The substantial rehabilitation goal will be changed from seven units to nine units.