TITLE: Title
Approval of the Activities for 2019-20 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 2019-20.
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DEPARTMENT: Manager’s Office
CONTACT INFORMATION: Rebecca Buzzard, Project Manager, 919-918-7438, rbuzzard@townofcarrboro.org <mailto:rbuzzard@townofcarrboro.org>; Anne-Marie Vanaman, Management Assistant, 919-918-7321, amvanaman@townofcarrboro.org <mailto:amvanaman@townofcarrboro.org>
INFORMATION: The Orange County HOME Consortium asks the Board of Aldermen to review and approve a 2019-20 HOME Program Plan developed by the HOME Program Review Committee. The committee consists of elected officials and staff from 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.
HUD has reduced the HOME allocations for the 2019-20 program year by $51,038 from the previous year.
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 Chaney is the representative on the Committee this year.
• In FY 2019-2020, the Consortium will have $442,426 of HOME Program funds available:
o FY 2019-2020 funds $350,302
o 25% local match $78,818
o Program Income $13,306
• Each jurisdiction’s contribution of the local match is based on its population. The Town’s contribution to the matching funds is 15% of the total match, or $11,823.
Summary of Recommended Plan
The HOME Program Review Committee recommends the following 2019-20 HOME Program amounts:
|
Habitat for Humanity |
Second Mortgage Assistance |
$181,392 |
|
EmPOWERment |
Property Acquisition |
$85,000 |
|
Orange County |
Rapid Rehousing/Vouchers |
$141,004 |
|
Administration |
|
$35,030 |
|
Total |
|
$442,426 |
More information on the plan is provided in Attachment B.
FISCAL & STAFF IMPACT: Carrboro’s portion is estimated to be $11,823, 15% of the total local match.
RECOMMENDATION:r That the Board: (1) Approve the plan developed by the HOME Program Review Committee for use of $442,426 of 2019-20 Orange County HOME Program funds; and (2) authorize this plan to be incorporated into the Annual Update to the 2015-2019 Consolidated Plan for Orange County.