Agenda 03/11/2014 Item #16D73/11/2014 16.D.7.
EXECUTIVE SUMMARY
Recommendation to approve Amendment 4 to the Developer Agreement with Habitat for
Humanity of Collier County, Inc. for the Neighborhood Stabilization Program 3 (NSP3), to reflect
HUD NSP closeout guidelines.
OBJECTIVE: To clarify the Developer Agreement in relation to HUD closeout guidelines in order to
successfully exit the NSP3 program and provide single - family homes to low -to- moderate income
households.
CONSIDERATIONS: On April 24, 2012, Agenda Item No. 11 B., the Board approved a Developer
Agreement with Habitat for Humanity for the NSP3 program pursuant to the NSP exit strategy approved
on December 13, 2011, Agenda Item No.I OA.
On January 8, 2013, Agenda Item 16.D.4, the Board approved Amendment 1 to the Developer
Agreement, which clarified shifts in eligible census tract designations. On February 12, 2013, Agenda
Item 16.D.3, the Board approved Amendment 2 to the Developer Agreement, allowing Habitat to engage
in land banking and demolition activities to conform to the HUD approved NSP3 Action Plan. On July 9,
2013, Agenda Item 16.D.1, the Board approved Amendment 3 to the Developer Agreement, increasing
the amount awarded to the Developer through the generation of program income, to enable the County to
meet its March 11, 2014 expenditure deadline and retain funds for administration.
HUD's closeout guidance for the NSP program specifically identifies_ program and activity closeout as a
separate milestone from the statutory expenditure deadlines. Amendment 4 presents modifications to
Habitat's Developer Agreement to clarify HUD's direction on NSP3 expenditure deadlines and closeout,
treating them as two separate milestones. The expenditure milestone has been satisfied as of the March
11, 2014 deadline.
The proposed modifications allow ongoing close -out activities to be performed past the March 11, 2014
expenditure deadline. Habitat has acquired a total of thirty-one properties and is in the process of
completing the rehabilitation on the final homes. Once the final homes have been rehabilitated and sold to
income - qualified households, Habitat will submit for payment the final developer fees in order to close
out the NSP3 program.
This item also includes the addition of a "Land Bank Plan" to the Developer Agreement. As part of
HUD's closeout guidelines a land bank plan must be adopted to ensure that the properties meet HUD's
affordability guidelines. The attached Land Bank Plan was developed in partnership with HUD Technical
Assistance and Habitat for Humanity. The Land Bank Plan targets a final completion date for NSP3 of
December 2014.
FISCAL IMPACT: This action has no new fiscal impact. HUD requires that an amount equal to one-
hundred percent of the NSP 3 original award amount ($3,884,165) be expended but not drawn by March
11, 2014 to be in compliance with the terms of the federal funding. Habitat for Humanity has assisted the
County in meeting its one - hundred percent expenditure deadline. As of February 7, 2014 the County had
expended $3,897,008.06, exceeding the expenditure threshold by $12,843.06. Funds are managed within
Housing Grant Fund (705), Project 33150.
LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority
vote for Board approval. - JAB
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3/11/201416.D.7.
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GROWTH MANAGEMENT IMPACT: The Neighborhood Stabilization Program facilitates the goals,
objectives and policies set forth in the Housing Element of the Growth Management Plan.
RECOMMENDATION: To approve and authorize the Chairman to sign Amendment 4 to the NSP3
Developer Agreement with Habitat for Humanity.
Prepared By: Geoffrey Magon, Grants Coordinator, Housing, Human & Veteran Services
ma
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3/11/2014 16.D.7.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.D.16.D.7.
Item Summary: Recommendation to approve Amendment 4 to the Developer Agreement
with Habitat for Humanity of Collier County, Inc. for the Neighborhood Stabilization Program 3
(NSP3), to reflect HUD NSP closeout guidelines.
Meeting Date: 3/11/2014
Prepared By
Name: MagonGeoffrey
Title: Grants Coordinator, Housing, Human & Veteran Services
2/26/2014 12:09:03 AM
Approved By
Name: SonntagKristi
Title: Manager - Federal /State Grants Operation, Housing, Human & Veteran Services
Date: 2/26/2014 11:52:53 AM
Name: GrantKimberley
Title: Director - Housing, Human and Veteran S, Housing, Human & Veteran Services
Date: 2/26/2014 12:23:37 PM
Name: KushiEdmond
Title: Accountant, Housing, Human & Veteran Services
Date: 2/26/2014 1:41:15 PM
Name: TownsendAmanda
Title: Director - Operations Support, Public Services Division
Date: 2/26/2014 3:06:50 PM
Name: Bendisa Marku
Title: Supervisor - Accounting, Housing, Human & Veteran Services
Date: 2/26/2014 4:32:23 PM
Name: AlonsoHailey
Title: Operations Analyst, Public Services Division
Date: 2/26/2014 4:32:33 PM
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3/11/2014 16.D.7.
Name: CarnellSteve
Title: Administrator - Public Services, Public Services Division
Date: 2/27/2014 12:04:05 PM
Name: BelpedioJennifer
Title: Assistant County Attorney, CAO General Services
Date: 2/27/2014 3:58:58 PM
Name: RobinsonErica
Title: Accountant, Senior, Grants Management Office
Date: 2/28/2014 10:34:26 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 2/28/2014 10:59:25 AM
Name: StanleyTherese
Title: Management/Budget Analyst, Senior, Grants Management Office
Date: 3/3/2014 10:05:25 AM
Name: FinnEd
Title: Management/Budget Analyst, Senior, Transportation Engineering & Construction Management
Date: 3/4/2014 10:59:04 AM
Name: OchsLeo
Title: County Manager, County Managers Office
Date: 3/4/2014 11:15:34 AM
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3/11/2014 16.D.7.
NEIGHBORHOOD STABILIZATION PROGRAM 3
.-� AMENDMENT NO.4 TO DEVELOPER AGREEMENT BETWEEN COLLIER
COUNTY AND HABITAT FOR HUMANITY OF COLLIER COUNTY, INC.
CFDA: 14.218
THIS AMENDMENT, made and entered into on this _ day of , 2014 to the
subject agreement shall be by and between the parties to the original Agreement, Habitat
for Humanity of Collier County, Inc, EIN 59- 1834379, (d/b /a/ Habitat for Humanity),
authorized to do business in the State of Florida, whose business address is 11145
Tamiami Trail E Naples FL 34113, (hereinafter called the "Developer ") and Collier
County, a political subdivision of the State of Florida, Collier County, Naples (hereinafter
called the "County" or "Grantee ").
Statement of Understanding
RE: NEIGHBORHOOD STABILIZATION PROGRAM B -1 IUN -12 -0003
In order to continue the services provided for in the original Agreement document
referenced above, the parties agree to amend the Agreement as follows:
Words Strue h Through are deleted; Words Underlined are added:
(Dollar amounts have original underlines)
.-. WITNESSETH:
II. Terms and Conditions of the Funding
D. Deadlines — Timely completion of the work specified in this agreement is an
integral and essential part of performance. The NSP -3 funds are subject to Federal
deadlines and failure to comply could result in the loss of the Federal funds. By the
acceptance and execution of this agreement, it is understood and agreed by the
DEVELOPER that the PROJECT will be completed as expeditiously as possible
and that the DEVELOPER will make every effort to ensure that the project will
proceed and will not be delayed. Failure to meet these deadlines can result in
cancellation of this contract and the revocation of NSP -3 funds.
1. Project Expenditure Deadlines —
�T� d" t w ed by r a„« h 1' 201 ^ HUD requires that an
ra-�-xirciirv2`ii9 e� rn�scra -zrav r-r.
amount equal to 100% of the original grant amount must be expended by
March 11, 2014. The Developer must assist the County in meeting the
expenditure deadline as follows:
® Amount equal to 50% of NSP -3 original 03/11/2013
grant award fun& expended and
by the County
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�Pb
Z Amount equal to 100% of NSP -3
original grant award fiff4s expended arm
d by the County
® PROJECT activities completed,
r
Ill. Project Requirements
03/11/2014
Prior to Project
Closeout
3/11/2014 16.D.7.
The DEVELOPER agrees to comply with all requirements of the NSP -3 as stated in the
NSP -3 Notice and CDBG regulations, including but not limited to the following:
A. NSP -3 Eligible Use, CDBG National Objective and Eligible Activities — The
DEVELOPER will ensure and document that its NSP -3 activities meet LMMI
national objective, eligible use, allowable cost, and eligible activity requirements of
the NSP -3 Notices & CDBG Regulations. The DEVELOPER will ensure that any
expenditure of NSP -3 funds will be in compliance with the requirements, and
acknowledges that NSP -3 funds will only be provided as reimbursement for
eligible costs incurred, including actual expenditures or invoices for work
completed. The DEVELOPER will ensure that any Land Banking activities will
follow the Land Bank Plan as described in "Exhibit C"
Signature page to Follow
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IN WITNESS WHEREOF, the GRANTEE and DEVELOPER, have each, respectively,
by an authorized person or agent, hereunder set their hands and seals on the date and year
first above written.
ATTEST:
Dwight E. Brock, Clerk of Courts
By:
Dated:
(SEAL)
First Witness
TType/print witness nameT
Second Witness
TType /print witness name
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By:
Tom Henning, Chairman.
Habitat for Humanity of Collier County, Inc.
A Florida not -for -profit corporation
By: _
Print:
Title:
Approved as to form and legality:
Jennifer A. Belpedio
Assistant County Attorney
C'P
17"`a
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ON,
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EXHIBIT C. Land Bank Plan
Neiehborhood Stabilization Program
Land Bank Report and Recommendations
Collier County, Florida
October 25, 2013
Report by Gladys Schneider
TDA TA NSP3 -018 -1
Contents
Overview......................................................................... ............................... 5
Current Status 5
Summaryof Recommendations .................................................................... ............................... ....... 6
LandBank Plan Guidelines ............................................................... ............................... .. 6
Goal of the Land Bank.. 6
NationalObjectives ............................................................... ...............................
6
Land Bank Oversight. 7
Ten Year Limitation on NSP Land Bank Properties ..................................................... ............................... 7
SideLot Disposition ..................................................................... ............................... 7
Future acquisition of properties for the Land Bank ....................................................... ............................... 7
Responsibilities and Requirements ................................................................................ ............................... 7
APPENDIXI ................................................................... ............................... 9
APPENDIX2 ........................................................................... ............................... 9
APPENDIX 3.
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Overview
_ This report presents the results of technical assistance provided to Collier Counjy in the
consideration of forming an NSP Land Bank in conjunction with Habitat for Humanity of Collier
County (Habitat). Several discussions were held with County Staff and Habitat representatives
and both provided documents for the review of land bank policies developer agreements and
current land bank inventory. This report provides information on the current situation
recommendations, and proposed land bank plan guidelines Appendices provide the land bank
inventory in the format that would be included in the Land Bank Plan a summary of the Collier
County and Habitat for Humanity NSP plans and agreements and a summary of NSP regulatory
l�ry
citations reizarding land banks.
Current Status
Collier County authorized the formation and operation of a land bank in its Neighborhood
Stabilization Program (NSP). Habitat currently holds title to vacant residential lots that were
purchased with Collier County NSP3 funds As the program near completion the County and
Habitat need to develop specific pro ram policies to cam out the Land Bank strategy that was
authorized in the NSP program. The inventories of properties proposed for the NSP Land Bank
are included in Appendix 1.
Collier County's NSP3 Action Plan provide for the formation and operation of a land bank
(Appendix 2). If enacted the County would adopt a Land Bank Plan and enter into agreement
with Habitat for Humanity to implement the program Generally_ speaking the Land Bank Plan is
designed to carry out the goals of the Neighborhood Stabilization Program (NSP) with the
purpose of removing blight, providing affordable housing and promoting redevelopment and
revitalization. The Housing and Economic Recovery Act of 2008 (Division B Title III) is the
authorizing legislation for land banks as an eligible use of NSP funding with certain limitations
Under this legislation. a Land Bank is defined as:
Land bank: A land bank is a governmental or nongovernmental nonprofit enter,
established, at least in part. to assemble temporarily manage and dispose of vacant land
for the purpose of stabilizing neiPhborhoods and encouraging re -zae or redevelopment of
urban propM, For the pur op s,_es of NSP a land bank will operate in a speck defined
geographic area It will purchase properties that have been foreclosed upon and maintain
assemble, facilitate redevelopment of market and dispose of the land- banked-vro erties If
the land bank is a governmental entity it may also maintain foreclosed property that it
does not own, provided it charges the owner of the }roperty the full cost of the service or
places a lien on the property for the full cost of the service (see Appendix 3 for further
regulatory background on land banks)
A Land Bank Plan is an NSP requirement if the County intends to close out its NSP grant and
there are NSP assisted properties that have not vet been obligated to an end use that meets one of
the NSP applicable National Objectives By adopting a Land Bank Plan the County will be able
to close out its NSP grants if other close -out requirements are met A Land Bank Plan will
provide guidance to both parties to ensure that program requirements are met and the proposed
schedule has proper oversight.
Since Habitat already holds title to the NSP properties the NSP3 Action Plan includes a Land
Bank Strategy, there is already a framework for moving forward Habitat will administer the Land
Bank and report to the County on the activities and disposition of the properties The Land Bank
Plan addresses the NSP3 properties and defines the specific end use for their disposition and the
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National obiective that will be met The Land Bank guidelines can be included in the Developer
Agreements with Habitat, or by a separate agreement.^
Summary of Recommendations
The County should proceed with a Land Bank Plan and Agreement with Habitat for Humanity to
guide the completion of the 4 remaining properties that would be included in the land bank
program. The County will not need to revise its NSP3 Action Plan as it included Eligible Use C
Land Bank. The Developer Agreements between Habitat and the County authorize land banking
activities. There are four NSP3 parcels- all single family residential lots Habitat intends to
complete the NSP3 homes by the end of 2014 These schedules are based upon buyer demand
and market conditions. The relatively short anticipated timeframe gives the County some
flexibility- it could continue to oversee the eventual completion of the homes under its current
agreements, but would not be able to close out their NSP grants
The adoption of a Land Bank Plan and Agreement with Habitat will enable the County to close
out their NSP grants if other requirements are complete A Land Bank Plan would provide a
more formal understanding of what is to be completed and by when There would be a basis for
extending the development timeframe if needed since ten years holding time would be available
from the date of grant closeout. The Collier County program has the benefit of fewer scenarios
than other NSP land banks in that all of the properties are similar and will be obligated for the
development of affordable housing. Side lots, rezoning, re- platting or other complexities are
absent from this situation resulting in a streamlined approach that will require a minimum of
administrative procedures. There was some mention that some of the lots may turn out to be
wetlands and unbuildable That possibility is addressed in the guidelines suggested Finally, the
County has a good working relationship with Habitat and the Land Bank Plan would be an n
extension of that relationship to mutual benefit
Land Bank Plan Guidelines
The following- guidelines are intended to provide direction for the implementation of the NSP3
program requirements as part of the agreement established between Collier County and Habitat
for Humanity of Collier. It is recommended that these guidelines be included as an amendment to
the effective Developer Agreement between Collier County and Habitat for Humanity.
Goal of the Land Bank
The goal of the Land Bank is to acquire maintain and eventually dispose of NSP assisted
properties within a designated time frame to stabilize neighborhoods in specified geographic
areas in accordance with Neighborhood Stabilization Program rules and regulations
National Ob' ectives
The acquisition, rehabilitation demolition and reconstruction of real proem are eligible
activities with NSP funds, but the end use must also meet a National Objective Acquisition and
demolition alone do not meet a national obiective By including an NSP 12ropeW in a Land
Bank, a period of ten years holding is allowed under the program rules before a national objective
must be met. When all NSP grant activities have been completed and remaining parcels that
have not vet met a national objective are placed in a Land Bank, the grantee may close out their
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Uot with HUD. This relieves the Grantee from ongoing grants administration responsibilities
even though there may still be program income returning to the Grantee
The following National Objectives are appropriate for the Collier County NSP Land Bank:
Housing Activities. LMMH. Providing or improving permanent residential structures
that will be serving individuals or households whose gross annual income does not
exceed 120% of the area median income adjusted for family size and as published
annually by HUD. Examples include acauisition,_rehabilitation. demolition and
reconstruction of affordable homes.
Area Benefits. LMMA. Activities that benefit all of the residents of a primarily
residential area in which at least 51 % of the residents have incomes at or below 120% of
the area median income. Examples include the donation or sale of a parcel for open
space or conservation.
Land Bank Oversight
The Collier County Department of Housing Human and Veteran Services will have the
responsibility to monitor the implementation of the Land Bank Plan Habitat for Humanity o
Collier County, Inc. will be responsible for the maintenance and disposition of the properties
Ten Year Limitation on NSP Land Bank Properties
All land bank properties must meet a national objective within ten years of the closeout date of
the applicable NSP 1 or NSP3 grant. Any properties that have not met a national objective will
immediately be used for CDBG purposes. The NSP Land Bank Properties will revert ten years
from closeout to Collier County if they have not met a National Objective
Side Lot Disposition
The Collier County Land Bank program does not foresee the sale donation or other transfer of
land bank properties to adia cent property owners
Future acquisition of properties for the Land Bank
The Collier County Land Bank program does not foresee increasing the inventory of non -NSP
properties in the NSP Land Bank.
Responsibilities and Requirements
1. Habitat is responsible for all maintenance and expenses associated with the stewardship
of the land bank properties.
2. Habitat is responsible for all title and transfer expenses associated with the disposition of
the land bank properties.
3. Habitat will construct homes on buildable properties by the date specified Purchasers
will be NSP eligible beneficiaries.
4. A minimum of 25% of the NSP funds expended will serve households with incomes at or
below 50% of the area median income per Developer Agreements
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5. NSP3 funds can be used for acquisition and demolition Reconstruction and all other n
development, maintenance and transfer costs are the responsibility of Habitat
6. Habitat is responsible for reporting to the County on land bank activities and disposition
no less than once annual
7. Habitat is entitled to a set fee of $10,000 per unit as a developer fee for NSP3 homes
This fee is paid half upon acquisition of the foreclosed MropgM and half upon completion
of the home and sale to an elijzible beneficiary.
8. The feasibility for eventual development of the properties should be considered to
determine if all properties are suitable for residential construction If not the properties
shall be designated as open space or conservation and Habitat may negotiate a transfer to
either a public agency a nonprofit organization or may retain title along with full
maintenance responsibilities. In order to meet the Area Benefit rule (LMMA) the use
must benefit all the residents of a primarily residential neighborhood in which at leas t
51 % of the residents have incomes at or below 120% of the area median income.
Designation of the non - buildable properties as open space or conservation is an
apRropriate area benefit use
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^ APPENDIX 1
Land Bank Invento
3/11/2014 16.D.7
Parcel NSP Program
EM
NSP3
Location /Address
Status
Lot
End Use and
National Obiective
Single Family
OwnershiR
Dispo
Disposition
Date
1.2/31 /2014
MMH
NSP3
Vacant
lot
Single Family
Own ershin
I2/31/2014
(I AAA
NSP3
9-1.
Vacant
lot
Sin le Family
Own - ngrship
12/31/2014
LM
NSP3
Vacant
ot
Single Family
Ownership
12/31/2014
LMMH
APPENDIX 2
Land Banking Authority
Summary of Collier County NSP3 Plan and Develo er A reement with Habitat for
^ Humanity
NSP3 Action Plan Collier County
The Collier County NSP3 Action Plan includes a Land Bank Strategy with a budget o'$388,415,
The N P3 ro am is be►n im lemented throu a develo era Bement with Habitat for
Humanity of Collier County. Habitat has purchased four bli hg ted properties under the laud bank
strategy- title is held b Habitat and maintenance is hem rovided at Habitat's own expense.
The btiildin s were demolished and the four lots are vacant. Habitat intends to have new homes
built and meet a national obiective hy December of 2014. Habitat and the Coun are working
toeether under a Develo er Agreement As such Habitat holds title to the12roperties that were
acqu ►red by the County cleared of bliehted structures before deeding them to Habitat
NSP3 Developer A reement Collier County and Habitat for HumanitY of Collier Countv
The initial agreement was executed on 4 -24 -12 for $3,495.749 for 27 homes Under this
agreement Habitat was responsible for the acouisition process as well as demolition There were
3 amenaments to the Agreement
Other provisions of the Agreement include:
- The maximum NSP reimbursement per unit is $150,000
- 25% of the fund- would be allocated to meetin the low income set -aside
- Habitat would receive a I 0,0 developer fee er unit 50% a able u on ac uisition
and 50% payable upon sale to an eligible buyer
The develo r is res nsible for ac uirin a roximate! 30 units and conductin
demolition as needed
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- Habitat may retain all project proceeds n
- Long term affordability is the minimum provided by the NSP statute
- Amendment 1 (1/8/13) revised the target areas
- Amendment 2 (2/12/13) increased units from 27 to 30 added approximately 5 units to
Land Banking and demolition as needed, and added as eligible beneficiary middle
income households.
- Amendment 3 (7/9/13) increased units to approximately 34 adjusted the agreement
amount to allow for program income allocations to the Developer.
APPENDIX 3
NSP Statutory and Implementing Citations
NSP Land Bank Background Information (Unified NSP Notice- 75 FR 64322)
NSP Definition of Land Bank
A land bank is -a governmental or nongovernmental nonprofit entity established at least in part to
assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing
neighborhoods and encouraging re -use or redevelopment of urban property. For the purposes of
the NSP a land bank will operate in a specific defined geographic area It will purchase
properties that have been abandoned or foreclosed upon and maintain assemble facilitate
redevelopment of market and dispose of the land - banked properties If the land bank is a
governmental entity, it may also maintain abandoned or foreclosed property that it does not own
provided it charges the owner of the property the full cost of the service or places a lien on the
property for the full cost of the service.
Eligible Uses (Housing and Economic Recovery Act) and NSP Closeout Notice (Nov. 27, 2012
288 FR 7 0799)
• Establish financing mechanisms for purchase and redevelopment of foreclosed upon
homes and residential properties, including such mechanisms as soft- seconds loan loss
reserves, and shared - equity loans for low- and moderate- income homebuyers
• Purchase and rehabilitate homes and residential properties that have been abandoned or
foreclosed upon to sell, rent or redevelop such homes and properties
• Establish land banks for homes and residential properties that have been foreclosed
upon
• Demolish blighted structures
• Redevelop demolished or vacant properties
Eligible Activities (CDBG)
The NSP funds used for land banking must correlate with an eligible activity under 24 CFR
570.201(a) Acquisition & (,bb) Disposition:
A. Acquisition in whole or in part by the recipient, or other public or private nonprofit
entity, by purchase, long -term lease, donation, or otherwise, of real property
(includiniz air rights, water rights, rights -of -way, easements, and other interests
therein) for any public purpose. subject to the limitations of Sec. 570.207.
B. Disposition, through sale, lease, donation, or otherwise, of any real property acquired
with CDBG funds or its retention for public purposes, including reasonable costs of
temporarily managing such property or property_ acquired under urban renewal,
provided that the proceeds from any such disposition shall be program income
subject to the requirements set forth in Sec. 570.504. (Temporarily managing
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includes maintenance assembly, facilitating the redevelopment of and marketing of
land banked properties NSP funds may be used for basic reasonable maintenance
intended to stabilize the property )
NSP National Objectives
Each NSP activity must meet a National Objective NSP national objectives include housing
activities (LMMH) area benefit activities (LMMA) and limited clientele activities (LMMC) The
Closeout Notice added one more- the jobs national objective T WANAY) Since all of Collier
County's land bank parcels are residential the LMMH and possibly the LMMA would be
applicable national objectives.�-
NSP Closeout Notice - Federal Register November 27 2012 (288 FR 70799)
The Notice describes closeout reguirernents and additional regulations that apply to grantees
receiving arants under the three rounds of funding under the Neighborhood Stabilization
Program. Land Banks are addressed in several parts of the Closeout Notice
I.A.4.c.(iii) The Closeout Agreement between the grantee and HUD must include "a list of real
ro eM held in an NSP-assisted land bank" and (iv) if the grantee has assisted a land bank,a
plan detailing how the land bank will meet the 10 year maximum holding requirement of Section
II.E.2.d of the Unified NSP Nonce and Appendix I Section E 2 d of the NSP2 NOFA
IA.2. The Unified NSF Notice was amended to re uire that grantees report at least annually on
the disposition of land bank Droperties
I.A.2, The start date for the ten year maximum holding period will be 'n the date of the grant
closeout to meet an eligible redevelop ment of the pWerty in accordance with NSP requirements.
The grantee is required to obligate or otherwise commit the property fn?-.q specific use su orting
neighborhood stabilization
II.A.2. HUD will provide further direction in reporting and tracking (subsequent webinars have
provided guidance).
II.A.2(2)(b) Disposition of Land Bank Property Properties in a land bank will be considered
obligated for redevelopment if the pro pe , is: _
(1) Owned by a local government or nonprofit entity and identified under a Consolidated
Plana roved by HUD for a CDBG eligible public im rovement such as parks, open
space or flood control:
(2) Owned by a community land trust to create affordable housing-
(3) Transferred to and committed for any other use in the annual Action Plan subiect to all
CDBG regulations and no longer part of the NSP ro ram•
(4) Designated for affordable housing in accordance with HERA and under development by
an eligible development entity which as control of the site and has expended
predevelopment funds-,
(5) Included in a redevelopment plan that has been approved by the local governing body
II.A.2.(2)(c). Any NSP assisted land bank properties remaining in the land bank ten years after
the date of grant closeout shall revert entirely to the CDBG rrgmm and must be immediate]-
^ used to meet a national objective or disposed of in accordance with CDBG use of real property
requirements at 24 CFR 570.505.
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