DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, Director
COUNCIL DISTRICTS IMPACTED: 4
SUBJECT:
FY 2018 HOME Investment Partnerships (HOME) Program Funding Recommendation and Substantial Amendment #1B (Reprogramming) to the FY 2018 Action Plan and Budget
SUMMARY:
Consideration of an Ordinance authorizing the allocation of up to $600,000.00 of HOME Investment Partnerships Program (HOME) funding for Tarasco Neighborhood Subdivision and approval of Substantial Amendment #1B to the FY 2018 Action Plan and Budget to reprogram said funds in the amount of $600,000.00.
BACKGROUND INFORMATION:
On August 3, 2017, City Council approved the FY 2018 HOME Investment Partnerships Program Budget totaling $4,898,909.00, which included unallocated funds of $1,250,000.00 for Multi-Family Rental Housing Development, $1,220,000.00 in funds for Community Housing Development Organization (CHDO) Single-Family New Construction Development, and $75,000.00 in funds for CHDO Operating Expense Funding.
These unallocated funds, as well as $1,437,000.00 in HOME funds identified by staff for reprogramming as a result of cancelled activities and program income, were presented to the Comprehensive Plan Committee on September 20, 2017, for consideration and approval of an initial HOME funding recommendation of $3,982,000.00. This funding recommendation included a $600,000.00 award to Alamo Community Group (ACG) for the development of Tarasco Neighborhood Subdivision. However, it was discovered at the meeting that ACG's application requirements conflicted directly with the HOME Program requirements. As such, staff removed the funding recommendation from the Council agenda memo in order to ensure ACG understood the federal requirements of the HOME Program.
On October 5, 2017 City Council authorized HOME funding recommendations totaling $3,382,000.00 (Entitlement: $2,545,000.00 / Reprogramming: $837,000.00) for the following activities:
Activ...
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