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RESOLUTION NO. 2009 - 018 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, AUTHORIZING THE COMMUNITY DEVELOPMENT DIRECTOR <br />TO MAKE APPLICATION TO THE FLORIDA DEPARTMENT OF COMMUNITY <br />AFFAIRS FOR A NEIGHBORHOOD STABILIZATION PROGRAM COMMUNITY <br />DEVELOPMENT BLOCK GRANT FOR FEDERAL FISCAL YEAR 2009. <br />WHEREAS, in 2008 the federal government enacted the Housing and Economic Recovery Act, <br />Public Law 110-289, which act appropriated 53.92 billion in Community Development Block <br />Grant (CDBG) funds under a new Neighborhood Stabilization Program (NSP) for local <br />governments to purchase and redevelop abandoned or foreclosed properties; and <br />WHEREAS, $4,680,825 from the $3.92 billion in NSP CDBG funds is earmarked by the State <br />of Florida for Indian River County; and <br />WHEREAS, it is the desire of the Indian River County Board of County Commissioners to <br />submit an application to the Florida Department of Community Affairs for those earmarked <br />Neighborhood Stabilization Program Community Development Block Grant funds to benefit <br />persons of low and moderate income; and <br />WHEREAS, acquisition and rehabilitation of foreclosed homes for rental to very low income <br />households and for sale to low and moderate income households achieves the intent of the <br />Neighborhood Stabilization Program; and <br />WHEREAS, the proposed Neighborhood Stabilization Program Community Development <br />Block Grant (CDBG) application is consistent with the Indian River County Comprehensive <br />Plan; <br />NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY; that <br />