Item 4: 2010/11 Funding Allocations for Federal CDBG and HOME Programs

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ATTACHMENT B – HOME Sources and Uses Table and Summary of Recommended Uses SOURCES OF FUNDS AMOUNT ENTITLEMENT GRANT $ 1,084,892 UNUSED FUNDS FROM PREVIOUS YEARS $ 96,447 PROGRAM INCOME $ 85,000 TOTAL $ 1,266,339 RECOMMENDED USES OF FUNDS AMOUNT HOUSING DEVELOPMENT $ 857,850 HOMEBUYER ASSISTANCE PROGRAM $ 250,000 CHDO OPERATING SUPPORT $ 50,000 ADMINISTRATION $ 108,489 Housing Development – $857,850 is recommended to support Housing Development activities including acquisitions, new development construction, rehabilitation, and project-related soft costs incurred by the jurisdictions. Funds can be used for rental or homeownership developments. Eugene awards funds allocated for Housing Development through an annual RFP processes. Eugene’s 2010 RFP was released February 26and proposals are due May 26. The Allocations Committee of the HPB will review the proposals in May, HPB will hold a public hearing and make a recommendation in July, and the recommendation is scheduled to be considered by City Council in July. Homebuyer Assistance Program (HAP) – $165,000 in new funds and up to an additional $85,000 in program income is recommended to support HAP. Through HAP, the City offers up to $10,000 in downpayment assistance to low-income households seeking to purchase homes. Community Development Housing Organization (CHDO) Operating Funds – $50,000 is recommended for CHDO operating support to expand the capacity of CHDOs to develop affordable housing. There are four active CHDOs including: Mainstream Housing, Inc, Metropolitan Affordable Housing Corporation (Metro), Neighborhood Economic Development Corporation (NEDCO), and St.Vincent dePaul Society of Lane County, Inc. All CHDOs must be certified or recertified each year in order to receive CHDO Operating Funds. Administration - $108,489 is recommended for Administration costs. The Federal grant management system automatically budgets 10% of new HOME funds for administration.