2005-04-18(2) - Laserfiche WebLink

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authorized to establish administrative procedures and provide for mutual assistance in the execution of the programs as provided by the Board of CRHA. This appropriation is conditioned upon receipt of $619,580 from the U.S. Department of Housing and Urban Development as the City's entitlement under the Community Development Block Grant for Fiscal year 2005-2006. WHEREAS, the City of Charlottesville has been advised of the approval by the U.S. Department of Housing and Urban Development of Housing Opportunities Made Equal (HOME) funding for the 2005-2006 fiscal year; WHEREAS, the region has been awarded $912,539, for year twelve or fiscal year 05-06, in HOME funding of which the City will receive $127,867 to be expended on affordable housing initiatives such as Downpayment and Closing Cost Assistance, and Substantial Rehabilitation. WHEREAS, it is a requirement of this grant that projects funded with HOME initiatives money be matched with local funding in varying degrees; BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that the local match for the above listed programs will be covered by the Housing Initiatives Capital Improvements Program account (26-042-051545 in the current accounting system) in the amount of $33,373. The total of the HUD money and the local match, $166,865, will be distributed by the following four accounts: Downpayment and Closing Cost Assistance will receive $6,735 from HUD and $1,688 from the City; Substantial Rehabilitation will receive $91,114 from HUD and $22,779 from the City; Virnita Court Rehabilitation will receive $20,000 from HUD and $5,000 from the City; Forest Street Townhouses Rehabilitation will receive $10,000 from HUD and $2,500 from the City. HOME Program Funds HOME % MATCH LOCAL (Fiscal Year 05-06) FUNDING REQUIRED MATCH TOTAL Downpayment/Closing Cost Assistance Substantial Rehabilitation $113,893 Virnita Court Rehabilitation Forest Street Townhouses Rehabilitation $6,753 25% $1,688 $91,114 25% $22,779 $20,000 25% $5,000 $10,000 25% $2,500 $8,441 $25,000 $12,500 $127,867 $31,967 $159,834 2005-2006 CDBG BUDGET ALLOCATIONS RECOMMENDED BY CDBG TASK FORCE: 2/9/05 HOUSING IN ALL CDBG ELIGIBLE NEIGHBORHOODS A1 Substantial Rehabilitation: Rehab of homeowner occupied structures $277,567* B. DownpaymentJCIosing Costs C. Arc of the Piedmont Mold Removal D. Christmas in April E. Weatherization F. PHA Virnita Court Rehabilitation G. PHA Forest Street Townhouse Rehabilitation H. Lead/Relocation I. Small Rehab d. Handicapped Access Housing Subtotal: $497,567 70.4% $15 000 $15 000 $10 000 $10 000 $80 000 $30 500 $40 000' $10 000' $10 000' II. OTHER NEIGHBORHOOD PHYSICAL IMPROVEMENTS Other Neighborhood Physical Improvements Subtotal: $0 0%