Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Habitat for Humanity of Collin County (#22-10) in the Amount of Seven Hundred Thousand and NO/100 Dollars ($700,000.00) to Include: $400,000 for the Purchase of Land for New Affordable Home Sites; and $300,000 to Fund Critical Home Repairs for Low Income Residents in McKinney, Texas. Amount Represents 100% of Total Project Cost.
Summary
COUNCIL GOAL: Enhance quality of life in the City of McKinney
(5E): Develop sustainable quality of life improvements within the City of McKinney
MEETING DATE: April 28, 2022
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• MCDC will hold a public hearing on Habitat for Humanity of Collin County’s request for a project grant in the amount of $700,000.
• $400,000 of the amount requested will be used to purchase land for new homes for families that qualify for the Homeownership Program.
• $300,000 will pay for various levels of home repair for eleven families who qualify for the Home Repair Program as follows: one major repair at $75,000, two major repairs at $50,000 each, three major repairs at $25,000 each, and five major repairs at $10,000 each.
BACKGROUND INFORMATION:
• Habitat for Humanity of Collin County has been building homes for working, low-income families since its incorporation in 1992.
• Habitat for Humanity of Collin County serves a 24-city area in Collin County.
• Habitat for Humanity of Collin County utilizes a two-pronged initiative for low-income families: construction of new homes; and exterior home repairs.
• Most of the homeowners served are seniors or disabled with both financial and housing needs.
• The Home Repair program restores health and safety to older, poorer neighborhoods revitalizing whole communities with a sense of pride, security and dignity.
FINANCIAL SUMMARY:
• Funds allocated for FY22 for discretionary Project Grants is $1,749,025, and $1,395,679.02 remain.
• The request is eligible for MCDC consideration under Section 505,153 of the Texas Local Government Code - Projects Related Affordable Housing.
SUPPORTING MATERIALS:
• Application Packet
• Presentation