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Item 3C: Funding Allocations for CDBG, HOME and ADDI Programs
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Item 3C: Funding Allocations for CDBG, HOME and ADDI Programs
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4/6/2007 8:58:40 AM
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4/9/2007
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<br /> <br /> <br />Housing Development <br />– $1,300, 000 (new and prior years funds). Housing development includes <br />funding for acquisitions, new development construction, rehabilitation, and project-related soft costs <br />incurred by the jurisdictions. Funds can be used for rental or homeownership developments. Eugene <br />awards funds in this category through an annual RFP processes. Eugene’s 2007 Housing RFP was <br />released in November and proposals were due February 22, 2007. The Allocations Committee will <br />review and recommend projects for consideration at a public hearing conducted by the Housing Policy <br />Board on May 7. The item will come to council on June 11. <br /> <br />Homebuyer Assistance Program (HAP) <br />- $207,805. Eugene offers up to $10,000 in downpayment <br />assistance at closing to eligible households seeking to purchase homes. The funds are repaid upon resale <br /> <br />of the home.Due to increasing home sale prices, Eugene has had declining demand for downpayment <br />assistance program. Eugene set a goal for 35 HAP loans for the 2006-2007 fiscal year but has only <br />completed five loans so far. Given current trends, staff will actively seek out opportunities to partner <br />with developers to create more affordable homeownership options. In these cases, staff recommends <br />increasing the loan amount up to $20,000. <br /> <br />Community Development Housing Organization (CHDO) Operating Funds <br /> – The consortium may <br />award up to 5% of new HOME funds for CHDO general operating grants. The total budgeted amount <br />for this item is $72,580. Eugene’s contribution is $50,806 and Springfield’s contribution is $21,774. <br />Consortium CHDO operating funds will be split equally between the four active CHDOs: Mainstream <br />Housing, Inc, Metropolitan Affordable Housing Corporation (Metro), Neighborhood Economic <br />Development Corporation (NEDCO), and St.Vincent dePaul Society of Lane County, Inc. Each CHDO <br />will receive $18,145. All CHDOs must be certified or recertified each year in order to receive CHDO <br />Operating Funds. <br /> <br />Administration - <br /> $101,619. The Federal grant management system automatically budgets 10% of new <br />HOME funds for administration. Eugene will receive 70% of the amount awarded to the consortium. <br /> <br /> <br />RELATED CITY POLICIES <br />This allocation plan is based on the Consolidated Plan 2005 which guides the use of federal CDBG, <br />HOME, and ADDI funds through 2010. In order to allocate funds to specific programs or projects, <br />HUD regulations require a citizen participation process, including advertising and conducting a public <br />hearing, followed by City Council action. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />The City Council can approve, not approve, or modify the One-Year Action Plan for use of Federal <br />CDBG, HOME, and ADDI funds for 2007-08. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends approval of the One-Year Action Plan for use of Federal CDBG, <br />HOME, and ADDI funds in 2007-08. <br /> <br /> L:\CMO\2007 Council Agendas\M070409\S0704093C.doc <br /> <br />
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