SUBSTITUTE ADOPTED - AUGUST 28, 2007

Agenda Item No. 12

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION TO PROVIDE FUNDING FOR MORTGAGE FORECLOSURE PREVENTION

RESOLUTION #07-189

WHEREAS, the incidence of predatory and sub-prime mortgage products is negatively impacting our county and the economic pressure caused by the adjustable rate mortgage products is expected to peek in March of 2008; and

WHEREAS, the volume of Sheriff Deed activity increased 66% in 2006 over 2005, as a reflection of this economic strain, and has increased another 56% in the first 6 months of 2007 compared to the similar period of 2006; and

WHEREAS, the County Treasurer has been working since last year with the City of Lansing and the non-profit community to further coordinate and increase the local counseling capacity for mortgage foreclosure prevention; and

WHEREAS, the need exists for additional counseling capacity and a communication and awareness campaign to inform the public of the services available by calling 211; and

WHEREAS, the Greater Lansing Housing Coalition (GLHC) is willing to serve as the administrative hub for increasing the communities capacity; and  

WHEREAS, in addition to emergency funding for additional capacity, a funding and awareness campaign, to be lead by the Lansing Mayor, County Board Chairperson and a business community representative is being designed.

THEREFORE BE IT RESOLVED, that the County Board authorizes funding of $30,000 to the GLHC for increased counseling capacity efforts to be equally split between County Board Contingency and Delinquent Tax Administration (516-25601).

BE IT FURTHER RESOLVED, that the County Controller is directed to make all necessary budget adjustments consistent with this resolution to strengthen the capacity within Ingham County for Mortgage Foreclosure Prevention counseling.

BE IT FURTHER RESOLVED, that the Ingham County Board of Commissioners authorizes the Board Chairperson and the County Clerk to sign any necessary documents that are consistent with this resolution and approved as to form by the County Attorney.