HomeMy WebLinkAboutSummary FormDate: 01/06/2015
AGENDA ITEM SUMMARY FORM
FILE ID: 15-00073
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting Date: 02-26-2015 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
Other
Subject: HOME funding 2015-2016
Purpose of Item:
AUTHORIZING THE ALLOCATION OF HOME INVESTMENT PARTNERSHIP PROGRAM
("HOME") FUNDS, IN THE PROJECTED AMOUNT OF $2,756,727, FOR HOUSING PROGRAMS,
FOR PROGRAM YEAR 2015-2016, IN THE CATEGORIES AS SPECIFIED IN ATTACHMENT "A",
ATTACHED AND INCORPORATED, FOR THE DEVELOPMENT OF AFFORDABLE HOUSING;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR SAID
PURPOSE(S).
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: TO BE DETERMINED
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $2,756,727
Final Approvals
(SIGN AND DATE)
CIP Budget
If using, or receiving capital fiends
Grants
Purchasing
Chief
Risk Management
Dept. Director,
1-PN City Manage
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AGENDA ITEM SUMMARY FORM CONTINUED
Backs round Information:
The U.S. Department of Housing and Urban Development ("HUD") has yet to release the final
Community Planning and Development Program Formula Allocations for Program Year 2015, as
such, the amount of HOME funds being recommended is a projection.
The Administration recommends the allocation of HOME funds, in the projected amount of
$2,756,727, for Program Year 2015-2016; in the categories as specified in Attachment "A", attached
and incorporated, for the provision of decent and affordable housing to low income households.
The funding allocation to such activities as specified in Attachment "A", may need to be adjusted
once HUD confirms the final HOME formula allocation for Program Year 2015-2016.