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*Funded through reprogrammed communi~ development account and program <br />income <br /> <br />The amounts so appropriated as subgrants m other public agencies and private non-profit, <br />charitable organizations are for the sole purpose stated. The City Manager is authorized <br />-to enter into agreements with those agencies and organizations as he may deem advisable <br />to ensure that the subgrants are expended for the intended purposes, and in accordance <br />with applicable federal and state taws and regulations; and <br /> <br />TheCity Manager, the Directors of Finance or Planning and Community Development, <br />and staff of the CharIottesville Redevelopment and Housing Authority (CRHA) are <br />authorized and directed to establish appropriate expenditure mb-accounts in the <br />Community Development Block Grant Fund to assist the City and CRHA in accounting <br />for such programs, and to establish adminis~aative procedures and provide for mutual <br />assistance in the execution ofthe programs as provided by the Board of CRH/k <br /> <br /> APPROPRIATION <br />FOR HOUSING OPPORTUNITIES MADE EQUAL (HOME FUNDING) <br />for Year Four (Fiscal Year 99/00) <br /> <br /> WHEREAS, the City of Charlottesville has been advised of the approval by the <br />U.S. Department of Housing and Urban Development of Housing Opportunities Made <br />Equal (HOME)funding for the 1999-00 fiscal year; <br /> <br /> WHEREAS, the region has been awarded $750,000, for year seven or fiscal year <br />99/00, in HOME funding of which the City witlreceive $93,750 to be expended on <br />affordable housing initiatives such as Downpayment and Closing Cost Assistance, and <br />CHOICE: buying, rehabilitating, and selling homes to low moderate income families; and <br />$9,375 in CHDO funds. <br /> <br /> WHEREAS, it is a requirement ofthis gram that projects funded with HOME <br />initiatives money be matched with local ftmding in varying degrees; <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that <br />the local match for the above listed programs wilt be covered by the Housing Initiatives <br />Capital Improvements Program account (26-042-051545) in the amount of $31,250.00 <br />and $3,125.00. The total of the HUD money and the local match, $125,000, and $12,500 <br />will be distributed between the following three accounts: Dowrtpayment and Closing <br />Cost Assistance (tl-042-062570) will receive $43,750 from HUD and $I4,688 from the <br />City; CHOICE Program (11-042-062571) will receive $50,000 from HUD and $t6,562 <br />from the City; CHDO funds for housing development (t t-042-062572) will receive <br />$9,375.00 from HUD and $3,125 from the City. <br /> <br />HOME Program Funds <br />(Fiscal Year 99/00) <br /> TOTAL <br /> <br />HOME % MATCH <br />.FUNDING .RE~D <br /> <br />LOCAL <br />MATCH <br /> <br />Downpayment/Closing <br /> $58,438 <br />Cost Assistance <br />(11-042-062570) <br /> <br />$43,750 25% <br /> <br />$14,688 <br /> <br />CHOICE <br />$66,562 <br />(I 1-042-062571) <br /> <br />$50,000 25% <br /> <br />$~6,562 <br /> <br />CHDO <br /> $t2,500 <br />(11-042-062572) <br /> <br />$90~°75 25% <br /> <br />$3,125 <br /> <br />$t03,125 <br /> <br />$34,375 $t37,500 <br /> <br /> <br />