Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to amend contract number DL007933 with the Columbus Housing Partnership to provide additional support to the Homebuyer Education Program. The Homebuyer Education Program provides homebuyer counseling, marketing and outreach regarding homeownership opportunities for homebuyers in the City of Columbus. The contract amount will be increased by $55,000 to $235,000 and extended for six months from January 31, 2005 to July 31, 2005.
Columbus Housing Partnership targets those whose annual income is between 60% and 80% of the area's medium income, a group that is a top priority in the Consolidated Action Plan for the City of Columbus. Columbus Housing Partnership offers homebuyer education, pre-purchase counseling, post-purchase counseling, mortgage and delinquency counseling, default counseling, home equity conversion counseling, outreach initiatives, an IDA program, down payment assistance programs and resident development programming to residents throughout the City of Columbus. This program assists about 1,100 people.
FISCAL IMPACT: Funds for this expenditure are allocated from the 2004 Community Development Block Grant Fund.
Title
To authorize the Director of the Development Department to amend the Homebuyer Education Program contract with the Columbus Housing Partnership to provide additional funds and to extend the time frame six months; and to authorize the expenditure of $55,000 from the 2004 Community Development Block Grant Fund. ($55,000)
Body
WHEREAS, the Department of Development, Housing Division, desires to amend contract number DL007933 with the Columbus Housing Partnership to fund the Homebuyer Education Program; and
WHEREAS, these monies will be used to provide to provide comprehensive counseling and education for homebuyers in the City of Columbus; and
WHEREAS, Columbus Housing Partnership targets those whose annual i...
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