TITLE: Title
Approval of the Activities for 2016-17 HOME Investment Partnership Program
PURPOSE: The purpose of this item is for the Board to consider approving the HOME Investment Partnership Program's proposed activities for FY 2016-17.
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DEPARTMENT: Manager's Office
CONTACT INFORMATION: Nate Broman-Fulks, Assistant to the Town Manager, 919-918-7314, nbroman-fulks@townofcarrboro.org
INFORMATION: The Orange County HOME Consortium asks the Board of Aldermen to review and approve a 2016-2017 HOME Program Plan developed by the HOME Program Review Committee. The Committee consists of elected officials and staff from the each of the four participating jurisdictions (Chapel Hill, Carrboro, Hillsborough and Orange County acting as the lead entity), and all participating jurisdictions must approve the plan and authorize submission of the plan to the U.S. Department of Housing and Urban Development by May 15, 2016.
Background
* Since 1992, the Orange County HOME Consortium has received federal HOME program funds to develop affordable housing throughout the County.
* In October 2000, the Consortium agreed to form a HOME Program Review Committee consisting of an elected official and staff member of each jurisdiction to allow elected officials to have more involvement in the development of the annual HOME Program plan and to review the progress of HOME funded activities.
* Alderperson Johnson is the representative on the Committee this year.
* In 2016-2017, the Consortium will have $480,509 of HOME Program funds available: 2016-2017 grant funds $308,538
25% local match 69,421
Program Income 38,069
Reallocation 64,481
* Each jurisdiction's contribution of the local match is based on its population. The Town's contribution to the matching funds is 14% of the total match or $9,719. Orange County, Chapel Hill, and Hillsborough will contribute $27,768 (40%), $28,463 (41%) and $3,471 (5%) respectively.
Summary of Re...
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