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 agencies. 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 $163,125.00 of HOME Funds and 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 of CHDOs. The City and the Collaborative have collectively developed a process for distribution of the funds. The Collaborative will administer contracts for the following CHDOs:
Community Development for All People $48,236.00
Franklinton Development Association $27,500.00
Greater Linden Development Corporation $48,236.00
Homes on the Hill CDC $39,153.00
Total $163,125.00
Contract figures represent only the City HOME funded portion of the CHDOs total contracts. Emergency action is requested to avoid disruptions in program services.
FISCAL IMPACT: The 2013 HOME Program budget allocated a total of $163,125.00 for CHDO operating support. Funds for this expenditure are contingent on the passage of Ordinance 1495-2013.
Title
To authorize the Director of the Department of Development to enter into a contract with the Community Development Collaborative of Greater Columbus to...
Click here for full text