Explanation
BACKGROUND: The City is a participating jurisdiction receiving federal funds under the HOME Investment Partnerships Program (HOME) of the U. S. Department of Housing and Urban Development (HUD). The regulations of the program provide that up to five percent of the annual allocation may be granted to Community Housing Development Organizations (CHDOs) to pay operating costs of the agency. CHDOs are nonprofit organizations that work in neighborhoods to develop affordable housing through rehabilitation of existing housing stock or new in-fill construction.
This legislation authorizes the expenditure of $243,535 of HOME Funds. The legislation also authorizes the Director of Development to enter into a contract with the Community Development Collaborative of Greater Columbus (Collaborative) to serve in the role as a funding intermediary, facilitator of training, and builder of organizational capacity. These funds leverage additional public and private funds for operating support. The City and the Collaborative have collectively developed a process for competitive distribution of the funds.
The Collaborative will administer contracts for the following CHDOs:
Franklinton Development Association $48,707
Homes On The Hill, CDC $48,707
MiraCit Development Corporation $48,707
Samaritan Project $48,707
Community Development for All People $48,707
Total $243,535
Contract figures represent only the HOME funded portion of the CHDOs total contracts.
Emergency action is requested to allow the Collaborative to enter into contracts with the CHDOs for FY2007.
FISCAL IMPACT: The 2007 HOME Program budget allocated a total of $243,535 for CHDO operating support.
Title
To authorize the Director of the Department of Development to enter into a contract with the Community Development Collaborative of Greater Columbus; to authorize the expenditure of $243,535 from the HOME Fund; and to declare an emerge...
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