Title
Public Hearing Authorizing Submission of the Annual Action Plan Application for HOME Consortium Funds and the Conduct of HOME Consortium Activities for the 2016-2017 Fiscal Year
Body
Department: Neighborhood Development
Council District: Citywide
Public Hearing: Yes
Advertising Date/By: 4/7/16/Neighborhood Development
Contact 1 and Phone: Barbara Harris, 373-2509
Contact 2 and Phone: Caitlin Bowers, 433-7266
PURPOSE: As a condition of receiving federal Housing and Urban Development (HUD) formula grants funds, the City of Greensboro must submit an application (the Annual Action Plan) on behalf of Greensboro and HOME Program Consortium member jurisdictions Burlington, Guilford, and Alamance counties by May 15, 2016 after City Council approval.
BACKGROUND: The Annual Action Plan describes how the City and HOME Consortium partners plan to meet ongoing commitments and mandates using the anticipated FY 2016-2017 awards.
HOME Funding for the City of Greensboro ($902,773)
Home Investment Partnership Program (HOME) - The City of Greensboro is the administrative agent for HOME Investment Partnership Program funds for the City of Burlington and Alamance and Guilford counties:
Greensboro: $902,773 ($782,773 in HUD funds; $120,000 in estimated program income)
Burlington: $207,924
Guilford County: $122,308
Alamance County: $110,077
Proposed Uses of HOME Funds for the City of Greensboro:
Program Administration: $78,277
Citywide Housing Rehabilitation Program: $100,000
Affordable Housing Development RFPs: $624,496
Homebuyer Downpayment Assistance: $100,000
BUDGET IMPACT: $782,773 in new federal HUD grant funds and an estimated $120,000 in program income will be available to address affordable housing needs in Greensboro.
RECOMMENDATION / ACTION REQUESTED: Request that Council conduct a public hearing to receive comment on the proposed FY 2016-2017 Annual Plan application and adopt the attached resolutions to autho...
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