Fiscal Note
The Resolution authorizes the use of $79,300 of City CDBG Funds and $206,700 of CDBG Office HOME MATCH funds for Habitat for Humanity of Dane County to create homeownership opportunities for 4 familes in the Southwest Neighborhood of Madison. Funding is included in the 2009 Adopted CDBG operating budget.
Title
Authorizing the provision of CDBG and HOME MATCH funds to assist Habitat for Humanity of Dane County to develop affordable owner-occupied housing in the Southwest Neighborhood.
Body
Habitat for Humanity of Dane County is a local chapter of a national organization established to promote affordable housing using self-help participation and volunteer labor. Locally, the Habitat chapter has developed Twin Oaks, Harmony Park, and is completing units at Northport Commons.
PROJECT:
Habitat intends to acquire a 4 unit rental building property in the Southwest area, rehabiitate the units as needed and sell them as 4 owner-occupied homes to low or moderate income families. This project will address neighborhood revitalization goals of the area.
Whereas, CDBG staff and the CDBG Commission have reviewed this proposal and find that it furthers the goals expressed in the Five-Year Community and Neighborhood Development Plan;
Whereas, CDBG staff and the CDBG Commission find that this proposal meets the requirements of Resolution # 08-01062 for funding for an ownership project in the Southwest Neighborhoods;
Now, therefore, be it resolved that the Common Council approve the provision of funds for the
following project, and authorize the Mayor and the City Clerk to enter into an agreement with:
Habitat for Humanity of Dane County for up to $79,300 of CDBG funds and $206,700 of HOME MATCH funds toward the development of 4 homes in the Southwest area.
Be it further resolved that the assistance be offered on terms adopted in the 2009-2010 Framework for Community and Neighborhood Development, such that the assistance to the organization (and to the buyer...
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