DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto
COUNCIL DISTRICTS IMPACTED: Council Districts 2, 4, and 6
SUBJECT:
Public Hearing for Substantial Amendment #1 (Reprogramming) to the FY 2018 Action Plan and Budget in the amount of $1,437,000.00 in HOME Investment Partnerships Program Funding
SUMMARY:
Public Hearing for Substantial Amendment #1 (Reprogramming) to the FY 2018 Action Plan and Budget in the amount of $1,437,000.00 in HOME Investment Partnerships Program Funding. Staff is recommending the allocation of up to $350,000.00 in HOME funds for the development of Lord Road Apartments; the allocation of up to $439,000.00 in HOME Community Housing Development Organization (CHDO) funding for the development of Lenwood Heights Subdivision-Phase III; the allocation of up to $600,000.00 in HOME CHDO funding for the development of Tarasco Subdivision; the allocation of up to $48,000.00 in HOME CHDO Operating Expense funding for Alamo Community Group.
BACKGROUND INFORMATION:
On August 3, 2017, City Council approved the FY 2018 HOME Investment Partnerships Program Budget, which included $1,250,000.00 set aside for Multi-Family Rental Housing Development and $1,220,000.00 set aside for CHDO Single-Family New Construction Development. In addition, staff has identified $1,437,000.00 in HOME funds for reprogramming as a result of cancelled activities.
ISSUE:
The Neighborhood and Housing Services Department (NHSD) issued a Request for Applications (RFA) for Multi-Family Rental Housing Development, CHDO Single-Family New Construction Development, and CHDO Operating Expense Funding. Three separate panels comprised of City executives and/or senior managers evaluated the applications utilizing evaluation criteria related to the HOME Program Requirements and Affordable Housing Policy. These panels evaluated the applications based on experience of the developer, efficient use of HOME funds, project feasibility, loan term...
Click here for full text