Title
Resolution Authorizing Submission of the Annual Action Plan Application for HOME Consortium Program Funds and the Conduct of HOME Consortium Activities for the 2019-2020 Fiscal Year
Body
Department: Neighborhood Development
Council District: Citywide
Public Hearing: Yes
Advertising Date/By: April 29, 2019
Contact 1 and Phone: Stanley Wilson, 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 June 11, 2019 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 2019-2020 awards.
HOME Funding for the City of Greensboro ($1,774,811)*
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: $1,229,970 ($1,129,970 in HUD funds; $100,000 in estimated program income)
Burlington: $261,127
Guilford County: $152,247
Alamance County: $131,467
*The HOME Consortia Participating Members Percentage Report has not been published; therefore, the Consortium allocations are subject to change.
Proposed Uses of HOME Funds for the City of Greensboro:
Program Administration: $112,997
Affordable Housing Development RFP: $947,477
Community Housing Development Organization Development: $169,496
BUDGET IMPACT:
$1,129,970 in new federal HUD grant funds and an estimated $100,000 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 propos...
Click here for full text