Title
RESOLUTION AUTHORIZING REPROGRAMMING OF $47,541.91 OF HOME FUNDS ($44,717.83 FROM 2017 HOME PROGRAM YEAR AND $2,824.08 FROM 2018 HOME PROGRAM) FOR THE 2021 COMMUNITY LAND TRUST ACQUISITION AND REHAB PROGRAM OPERATED BY ONE ROOF COMMUNITY HOUSING.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to reprogram $44,717.83 from the 2017 HOME Investment Partnerships Program and are authorized to reprogram $2,824.08 from the 2018 HOME Investment Partnerships Program for a total reprogramming amount of $47,541.91 for the 2021 HOME Investment Partnerships Program for Community Land Trust Acquisition and Rehab Program operated by One Roof Community Housing.
2017 HOME Program
Fund 262, Agency 020, Object 5434, Project CD17HM, Resolution # 17-0499R
Project Activity Original Budget New Grant Difference
GN17-1734 Homeless Rental Assistance $112,884 $68,166.17 ($44,717.83) TBRA-HRA
2018 HOME Program
Fund 262, Agency 020, Object 5434, Project CD18HM, Resolution # 18-0497R
Project Activity Original Budget New Grant Difference
GN18-1734 Homeless Rental Assistance $96,529 $93,704.92 ($2,824.08)
2021 HOME Program
Fund 262, Agency 020, Object 5434, Project CD21HM, Resolution # 21-0247R
Project Activity Original Budget New Grant Difference
CH21-6915 Community Land Trust $352,928 $400,469.91 $47,541.91
Acquisition/Rehab-One Roof Community Housing
Statement of Purpose
STATEMENT OF PURPOSE: The HOME Investment Partnership Program (HOME) requires funds to be spent in a timely manner. During a review of the HOME funds, staff discovered there were two projects that had funding that was close to expire.
One project was from the 2017 Program Year and one project was from the 2018 Program Year. Both of these projects were for the Tenant Based Rental Program. Additionally, Staff learned that projects costs for the 2021 Acquisition Rehab Program were higher than estimated due to the increase in construction costs. To address these concerns, the HOME funds from the 2017 and 2018 Program Years are being reprogrammed to the 2021 HOME Program Year to increase funding for the Acquisition Rehab Program operated by One Roof Community Housing.
The Housing and Redevelopment Authority (HRA) operates the Tenant Based Rental Program, which receives funding annually and is aware of the reprogramming and has no concerns.