Public Hearing: YES ? NO ? Department: Community Development
SUBJECT:
Title
Commission District(s): ALL
Approval of Contract with Alliance of DeKalb, Inc. using HUD - HOME CHDO Funds
Body
Information Contact: Allen Mitchell
Phone Number: (404) 371-2438
PURPOSE:
To consider approving agreements with Alliance of DeKalb, Inc. in an amount not to exceed $510,827. Of the total, $470,000 will be used to acquire, rehabilitate, and sell properties to eligible, low-to-moderate income households. The remaining $40,827 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. CHDO funds can be committed only to non-profit organizations that satisfy HUD's certification requirements and identify eligible 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 HOME CHDO allocation of up to $510,827 to Alliance of DeKalb Inc., with the condition that agreements will be signed after Alliance of DeKalb, Inc. identifies specific properties that are approved for CHDO activity by the Community Development Department.
FISCAL IMPACT:
No Cost to the County.
RECOMMENDATION:
Recommended Action
Approve agreements with Alliance of DeKalb, Inc. in an amount not to exceed $510,827. Of the total, $470,000 will be used to acquire properties, rehabilitate the properties, and sell the rehabilitated...
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