Title
Consider/Discuss/Act on a Resolution Authorizing Interim City Manager to Pursue Grant Funding through the Texas Department of Housing and Community Affairs (TDHCA) HOME Investments Partnerships Program Homeowner Rehabilitation Assistance (HRA)
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: October 6, 2015
DEPARTMENT: Housing and Community Development
CONTACT: Cristel Todd, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
* Approve Resolution
ITEM SUMMARY:
* The attached Resolution authorizes the Interim City Manager to apply for the Texas Department of Housing and Community Affairs (TDHCA) HOME Investment Partnership Program - Homeowner Rehabilitation Assistance (HRA) grant in the amount of $170,000.00 for FY 2015-2016, and authorizes the Interim City Manager to execute the contract with TDHCA and approve all pursuant documentation.
* The funds will be used to assist two (2) low-to-moderate-income homeowners in the reconstruction of their substandard owner occupied home.
* A 15% match is required to apply for this grant. $25,871.00 is the total amount of match we will provide.
BACKGROUND INFORMATION:
* The City of McKinney has partnered with the Texas Department of Housing and Community Affairs (TDHCA) in providing safe, decent and affordable housing for over 10 years.
FINANCIAL SUMMARY:
* The amount of the grant request is $170,000.00
* There is a $25,871.00 match requirement
* $22,000 of the match will come from a fund balance in the Community Housing Fund. The remaining match, $3,871.65 will come from the waiver of two (2) building permit fees for the reconstruction of these substandard homes.
* The Housing and Community Development Department facilitates the sale of City of McKinney tax foreclosed and/or surplus properties in furtherance of the City of McKinney's policy to use proceeds from these sales to create affordable housing opportunities for the low-to-mo...
Click here for full text