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 (CHDO's) to pay their administrative costs. CHDO's work in their neighborhoods to develop affordable housing through rehabilitation of existing housing stock or new, in-fill construction.
This legislation authorizes the expenditure of $273,107.65 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 CHDO's:
Franklinton Development Association $45,517.95
Homes On The Hill, CDC $45,517.94
Neighborhood House CHDO $45,517.94
Northside CDC $45,517.94
MiraCit Development Corporation $45,517.94
Youthbuild Columbus $45,517.94
Total $273,107.65
Contract figures represent only the HOME funded portion of the CHDO's total contract.
Emergency action is requested to allow the Collaborative to enter into contracts with the CHDOs for FY2004.
FISCAL IMPACT: The 2004 HOME Program budget allocated a total of $273,107.65 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 $273,107.65 from the HOME F...
Click here for full text