Council removes $100,000 cap on advances to Neighborhood Stabilization funds

Fairborn's council adopted Resolution No. 100-13 to reaffirm authority to advance General Fund monies to the Neighborhood Stabilization Program (NSP) I and II funds and to eliminate a previously imposed $100,000 cap on outstanding advances. Finance Director Randy Groves explained that NSP funds are reimbursable HUD grants passed through Greene County and the City of Dayton, and the cap established in 2010 had become a hindrance to timely demolition and rehabilitation work.

Groves said the city currently has approximately $203,000 available in NSP I and $190,000 in NSP II and that advances would be limited by actual fund balances and Council-appropriated spending authority; reimbursements typically arrive in six to eight weeks. Councilman Wood asked hypothetically whether large advances could be authorized; Groves said he would manage advances according to General Fund reserve targets and repayment timing. Council adopted the resolution unanimously.