Title
RESOLUTION AUTHORIZING AN INCREASE OF $5,461 FY 2022 HOME INVESTMENT PARTNERSHIP (HOME) PROGRAM.
Body
CITY PROPOSAL:
RESOLVED, that the city council hereby increases the total expenditure of the 2022 HOME Program by an amount of $5,461 due to an increase in the allocation to the city by HUD from the original estimate of $580,000 to the final HUD award of $585,461 and authorizes changes to contract as set forth below:
2022 HOME PROGRAM - FUND 262, AGENCY 020, OBJECT 5434, PROJECT CD22HM
Sub-Project-Activity Project Original New Difference
CH22-6915A Community Land Trust $130,000 $135,461 $5,461
New Construction-
One Roof Community Housing
Statement of Purpose
STATEMENT OF PURPOSE: This resolution finalizes the 2022 HOME Investment Partnership Program portion of the Community Development program. The city budgeted $580,000 for the FY 2022 HUD award to the HOME program in Resolution 22-0042R. The federal Department of Housing & Urban Development (HUD) officially notified the city of the FY 2022 HOME allocation on May 13, 2022 for the program year that runs from April 1, 2022 through March 31, 2023. The award letter from HUD awarded $585,461 to the HOME program, which is an increase of $5,461 from the anticipated amount.
A public comment period was held from November 3, 2021 December 3, 2021 and a public hearing on November 16, 2021. The committee's recommendation and initial council resolution included a funding contingency plan that stated if the amount received varied more than 1% of the estimated amount, then the Community Development Committee would reconvene and revised the funding recommendations and submit it to City Council. The Community Development Committee met on July 12, 2022 and revised the FY 2022 funding allocations and recommended approval of the revised HOME funding allocations to City Council with the amounts included in this resolution. A 30 day public comment period was held from August 22, 2022 to Septembe...
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