Laserfiche WebLink
A RESOLUTION <br />• APPROPRIATING FUNDS FOR <br />THE CITY OF CHARLOTTESVILLE'S 2009-2010 <br />HOME FUNDS <br />$155,322 <br />WHEREAS, the City of Charlottesville has been advised of the approval by the U.S. <br />Department of Housing and Urban Development of HOME Investment Partnership (HOME) <br />funding for the 2009-2010 fiscal year; <br />WHEREAS, the region is estimating an award of $919,878 for year seventeen or fiscal <br />year 09-10, in HOME funding of which the City will receive $117,822 to be expended on <br />affordable housing initiatives such as Rehabilitation of Owner and Renter Occupied structures. <br />WHEREAS, it is a requirement of this grant that projects funded with HOME initiatives <br />money be matched with local funding in varying degrees; <br />BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that the local <br />match for the above listed programs will be covered by the HOME Projects Local Funding <br />Match account (P-00507 in SAP system) in the amount of $37,500. The total of the HUD money <br />and the local match, $150,000, will be distributed by the following two accounts: AHIP- <br />Homeowner Rehabilitation will receive $52,500 from HUD and $17,500 from the City; CECP- <br />Weatherization. will receive $6,000 from HUD and $2,000 from the City. Administrative funds <br />• for the year total $5,322. <br />HOME Program Funds HOME % MATCH LOCAL <br />(Fiscal Year 08-09) FUNDING REQUIRED MATCH TOTAL <br />AHIP- Homeowner Rehab $52,500 25% $17,500 $ 70,000 <br />CECP- Weatherization $60,000 25% $20,000 $ 80,000 <br />Administration & Planning $ 5,322 $ 5,322 <br />$117,822 $37,500 $155,322 <br />Approved by Council <br />April 20, 2009 <br />X.A�0'41 <br />Cl of City Council <br />n <br />LJ <br />