SUBSTITUTE                                                                                                  ADOPTED - JANUARY 22, 2008

Agenda Item No. 10

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION TO PROVIDE ADDITIONAL FUNDING FOR MORTGAGE

FORECLOSURE PREVENTION

RESOLUTION #08-003

WHEREAS, the incidence of predatory, sub-prime and adjustable rate mortgage products is negatively impacting our county and the economic pressure caused by these mortgage products is expected to be severe throughout 2008; and

WHEREAS, the volume of Sheriff Deed activity almost doubled in 2007 compared to 2005, as a reflection of this economic strain; and

WHEREAS, the County Treasurer has been working since late 2005 with the City of Lansing and the non-profit community to coordinate and increase the local counseling capacity for mortgage foreclosure prevention; and

WHEREAS, Eaton and Clinton Counties have joined in funding this coordinated effort; 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 or logging onto www.holdontoyourhome.org; and 

WHEREAS, the Greater Lansing Housing Coalition (GLHC) serves as the administrative hub for increasing the communities capacity; and

WHEREAS, in addition to funding for additional counseling capacity, a public awareness campaign of post cards, posters and media is being designed.

THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners authorizes an agreement with GLHC in the amount of $60,000 for increased foreclosure prevention efforts to be equally split between Delinquent Tax Revolving (516-25606) 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 efforts.

BE IT FURTHER RESOLVED, that the Board Chairperson and County Clerk are hereby authorized to sign the agreement after approval as 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