Public Hearing: YES ? NO ? Department: Community Development
SUBJECT:
Title
Commission District(s): ALL
Approval of Contract with The Alliance of DeKalb County, Inc. using HUD - HOME CHDO Funds. Federally Funded, No Cost to the County
Body
Information Contact: Allen Mitchell, Director, Community Development
Phone Number: (404) 371-2727
PURPOSE:
To consider approving agreements with The Alliance of DeKalb County, Inc. (The Alliance) in an amount not to exceed $500,000. Of the total, $450,000 will be used to acquire, rehabilitate, and sell properties to eligible, low-to-moderate income households. The remaining $50,000 will be used to pay the costs associated with Community Housing Development Organization (CHDO) operating activities.
NEED/IMPACT:
HUD requires that at least 15% of the County's annual allocation of HOME funds be used by CHDOs for housing development activities. This project may be funded with 2015 HOME Funds, Prior Year Funds, and or Program Income. CHDO funds can be committed only to non-profit organizations that satisfy HUD's certification requirements and identify properties.
HOME regulations regarding CHDO commitments have changed. In the past, the County could commit funds to CHDOs for projects to be identified in the future. With the new HOME requirements, the County must commit CHDO funds for specific projects (specific addresses) and certify the CHDO at the time the projects are identified.
To comply with HOME regulations, the Community Development Department is requesting that the Board of Commissioners approve The Alliance allocation of up to $500,000, with the condition that agreements will be signed after The Alliance identifies specific properties that are approved for CHDO activity by the Community Development Department.
FISCAL IMPACT:
Funds are available in the following accounts: HOME funds in the amount of $500,000, account number 104020200601...
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