DEPARTMENT:
Department of Planning & Community Development
DEPARTMENT HEAD:
Bridgett White, Interim Director
COUNCIL DISTRICTS IMPACTED:
2, 5, and 6
SUBJECT:
HOME Investment Partnership Program Funding Recommendations
SUMMARY:
Briefing and possible action authorizing the allocation of $1,250,000 in FY 2017 HOME Investment Partnership Program (HOME) funding for the development of Lord Road Apartments, and the allocation of $174,400 in FY 2017 HOME Community Housing Development Organization (CHDO) funds for the Our Casas Resident Council Scattered Sites project. Additionally, the allocation of $1,045,600 in FY 2017 HOME CHDO funds in combination with a reprogramming of $484,400 in FY 2016 HOME funds for the development of Lenwood Heights Subdivision-Phase II project.
BACKGROUND INFORMATION:
On August 4, 2016, City Council approved the FY 2017 HOME Investment Partnerships Funding Budget, which included $1,250,000 set aside for Multi-Family Rental Housing Development and $1,220,000 set aside for Community Housing Development Organization (CHDO) Single-Family New Construction development. In addition, $484,400 in FY 2016 HOME funding is being reprogrammed for CHDO Single-Family New Construction development.
ISSUE:
The Department of Planning and Community Development issued a Request for Applications for Multi-Family Rental Housing Development and CHDO Single-Family New Construction on June 16, 2016. Applications were due on July 15, 2016. Two separate panels comprised of City executives and senior managers evaluated the applications utilizing evaluation and scoring criteria. This panel evaluated the applications based on experience of the developer, efficient use of HOME funds, project feasibility, loan terms, site characteristics, transit amenities, project readiness, resident services and their Section 3 Utilization Plan.
Multi-Family Rental Housing Development
A five-member panel evaluated four applications with funding requests tot...
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