SUBSTITUTE                                                                                                  ADOPTED - JANUARY 22, 2008

Agenda Item No. 9

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION TO AUTHORIZE TREASURER TO PURCHASE HUD FORECLOSED PROPERTY  IN THE NAME OF THE COUNTY FOR DEPOSIT INTO THE INGHAM COUNTY LAND BANK FAST TRACK AUTHORITY INVENTORY

RESOLUTION #08-002

WHEREAS, there exists in Ingham County a need to provide high quality affordable housing; and

WHEREAS, in an effort to expand its partnership with local governments in helping to foster housing opportunities for low to moderate income families and address specific community needs, HUD has introduced a Good Neighbor Program; and

WHEREAS, this program facilitates the sale of aged HUD inventory of single family homes to local governments for one dollar ($1.00); and

WHEREAS, all profits of sales of HUD homes will go to support local housing/community development initiatives; and

WHEREAS, improvement to the quality of the housing stock in Ingham County is a primary purpose of the Ingham County Land Bank Fast Track Authority (Land Bank) which was created under the guidance of the County Treasurer, with the concurrence of the County Board of Commissioners, and an Intergovernmental Agreement with the Michigan Land Bank Fast Track Authority; and

WHEREAS, the acquisition of certain HUD properties is in the public interest of the citizens of Ingham County.

THEREFORE BE IT RESOLVED, that the County Treasurer is authorized to acquire in the name of Ingham County and on behalf of the Land Bank, those properties that fit the goals of the Land Bank Authority and transfer said properties to the Land Bank for disposition.

BE IT FURTHER RESOLVED, that all cost of participation in this acquisition program shall be covered by the Land Bank.

BE IT FURTHER RESOLVED, that the Board Chairperson and County Clerk are authorized to sign any necessary documents as approved to form by the County Attorney.

COUNTY SERVICES:  Yeas:  Nolan, De Leon, Copedge, Soule, Grebner, Severino

Nays:  None          Absent:  None        Approved 1/15/08

FINANCE:    Yeas:  Grebner, Hertel, Weatherwax-Grant, Celentino, Schor

Nays:  None        Absent:  Dougan         Approved 1/16/08