Title
Public Hearing for an Ordinance Establishing FY 20-21 Grant Project Budget for in the Amount of $1,920,790 for the City of Greensboro HOME Investment Partnership Act Grant (HOME)
Body
Council Priority: Maintain Infrastructure and provide Sustainable Growth Opportunities
Department: Neighborhood Development
Council District: All
Public Hearing: Yes
Advertising Date/By: July 7, 2020/Neighborhood Development
Contact 1 and Phone: Stan Wilson, 373-2509
Contact 2 and Phone: Lamont Taylor, 373-2538
PURPOSE:
City Council is requested to approve the acceptance of HOME Investment Partnership Act (HOME) funds awarded to the City of Greensboro from the U. S. Department of Housing and Urban Development (HUD) and to authorize the City Manager to execute grant documents.
BACKGROUND:
HUD has awarded the Greensboro HOME Consortium HOME Investment Partnership Act funds, in the amount of $1,820,790, to address the housing needs of low-to moderate- income households. In addition to the awarded HOME grant funds, the City estimates $100,000 in program income for a total of $1,920,790 for FY 20-21. The City of Greensboro is the lead participating jurisdiction for the Greensboro Home Consortium which includes Greensboro, Guilford County, Burlington and Alamance County. As members of the Greensboro HOME Consortium, each participating jurisdiction is entitled to a share of the HOME grant defined as determined by HUD. For FY 20-21, the City of Greensboro share is $1,252,639 which is 68.8% of the Greensboro HOME Consortium grant award. The share for the other participating jurisdictions is $568,151 which is 31.2% of the grant award.
The budget ordinance to appropriate fund accounts for the FY 20-21 HOME Investment Partnership Act grant is attached for approval.
BUDGET IMPACT:
The appropriations for the FY 20-21 HOME Investment Partnership Act grant in the amount of $1,920,790 are reflected in the attached budget ordinance.
RECOMMENDATION / ACTION REQUESTED:
City Council is requested to approve the acceptance of a $1,820,790 grant award from HUD and authorize the City Manager to execute grant documents. City Council is also requested to approve the grant budget ordinance for the FY 20-21 HOME Investment Partnership grant.