HomeMy WebLinkAboutMINUTES - 12182001 - C.113 TO: BOARD OF SUPERVISORS :.. . Contra
FROM: Dennis M. Barry, AICP Costa
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Community Development Director � :::,:�.. County
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DATE: December 18, 2001
SUBJECT: FY 2001/02 HOME Housing Development Assistance Fund
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE the transfer of $779,328 in unallocated and unexpended HOME Investment Partnership Act
(HOME) funds from the sources identified below to the FY 2001/02 HOME Housing Development
Assistance Fund (HOME/HDAF):
• $379,207 in unallocated funds from the FY 2000/01 HOME/HDAF;
• $24,350 in unexpended funds from the Aspen Court Apartment Project (HM 96-03); and
u $375,771 in unexpended funds from the County Redevelopment Agency First-time Homebuyer
Project(HM 95-01).
FISCAL IMPACT
No General Fund impact. HOME funds are provided to the County annually on a formula allocation
basis through the U.S. Department of Housing and Urban Development(HUD).
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
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&4ECOMMENDATION OF COUNTY ADMINISTRATOR RECO ENDATIO OF BOARD
COMMITTEE
/APPROVE _OTHER
SIGNATURE(S):
ACTION OF BO ON APPROVED AS RECOMMENDED,�/ OT-HER_
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENTWog e, TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Contact: Kathleen K. Hamm (925) 335-1257 ATTESTEDcP.���i
Orig/cc: Community Development Dept. (CDD) JOHN.SWEETEN, CLERK OF
cc: County Administrator THE BOARD OF SUPERVISORS
County Counsel AND COUNTY ADMINISTRATOR
Resources for Community Development
And County Redevelopment Agency via CDD BY , DEPUTY
BACKGROUND/REASONS FOR RECOMMENDATIONS
On May 8, 2001, the Board of Supervisors approved the allocation of$441,000 to the FY 2001/02
HOME/HDAF. The purpose of the HOME/HDAF is to provide resources to assist affordable housing
projects that develop during the current program year. The current balance of the FY 2001/02
HOME/HDAF is $450,320. Approval of the recommended fund transfers totaling $779,328 will
consolidate existing unexpended and unallocated housing resources into the FY 2001/02 HOME/HDAF
and facilitate their use for additional affordable housing development.Historically,HOME/HDAF funds
have been used to fund a variety of projects, including affordable rental housing for extremely-low and
very-low income households and seniors, supportive housing for special needs populations (e.g.,
disabled households), and transitional housing for homeless families. If all of the fund transfers are
approved, the balance of the FY 2001/02 HOME/HDAF will be $1,229,648. Based on current
applications, letters of intent, and discussions with affordable housing developers,the Department has
identified potential requests for HOME/HDAF funds of over $3 million.
The source of proposed fund transfers includes $400,121 in unexpended funds from the following
projects:
• Aspen Court - $380,000 in FY 1996/97 HOME funds were awarded to Resources for
Community Development(RCD)for the new construction of 12 units of affordable multifamily
rental housing for very-low income persons disabled with HIV/AIDS. RCD was able to
complete the project with $355,650 in HOME funds, leaving a balance of $24,350 to be
recaptured. ,
• First-Time Homebuyer Program - $500,000 in FY 1995/96 HOME funds were awarded to the
County Redevelopment Agency (RDA) for use in combination with the HUD Section 203(k)
Program to assist low-income households to acquire and rehabilitate homes in the North
Richmond and Bay Point Redevelopment Areas.Housing market conditions and implementation
problems related to HUD 203(k) Program requirements limited the ability of the target
population to participate in this program, leading to its termination in FY 2000/01. Four loans
were made totaling $124,229, leaving a balance of$375,771 to be recaptured.
As has been the case in past years, the unexpended FY 2000/01 fund balances are recommended for
transfer to the FY 2001/02 HOME/HDAF for use in funding future affordable housing projects in the
County.
kkh/w/word/BOS-HDAF-HM2001