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Item 5: 2012/13 Funding Allocations for CDBG and HOME
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Item 5: 2012/13 Funding Allocations for CDBG and HOME
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4/20/2012 12:12:27 PM
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Agenda Item Summary
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4/23/2012
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ATTACHMENT B – HOME Sources and Recommended Uses Table and Summary Descriptions <br /> <br />SOURCES OF FUNDS <br />AMOUNT <br /> <br />NEW HOME ENTITLEMENT GRANT $688,136 <br /> <br />UNUSED FUNDS FROM PREVIOUS YEAR(S) $49,000 <br /> <br />PROGRAM INCOME $85,000 <br /> <br />TOTAL $822,136 <br /> <br />RECOMMENDED USES OF FUNDS <br />AMOUNT <br /> <br />HOUSING DEVELOPMENT $633,915 <br /> <br />HOMEBUYER ASSISTANCE PROGRAM $0 <br /> <br />SECURITY DEPOSIT ASSISTANCE $0 <br /> <br />CHDO OPERATING SUPPORT $34,407 <br /> <br />ADMINISTRATION <br />(10% NEW +10% PROGRAM INCOME) $77,314 <br /> <br />CARRY FORWARD $76,500 <br /> <br />TOTAL $822,136 <br /> <br /> <br />Housing Development <br />– $633,915 is recommended to support Housing Development activities <br />including 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 allocated for Housing Development through an annual RFP processes. Eugene’s 2012 <br /> <br />RFP is tentatively scheduled to be released in Junewith proposals due July 30, 2012. The Evaluation <br />Committee appointed by the HPB will review the proposals in August, HPB will hold a public hearing <br />and make a recommendation in October, and the recommendation is scheduled to be considered by City <br />Council in November. <br /> <br />S:\CMO\2012 Council Agendas\M120423\S1204235.doc <br /> <br />
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