Fiscal Note
Federal, state and other dollars are available to cover the costs of the Community Development Division projects identified in this Resolution, each of which was previously authorized by the Common Council at various times during 2015 or earlier. No new City dollars are included in this Resolution, and there is no impact on the City levy.
Title
Approving the carryover of CDBG, HOME and other funds, and the extension of previously authorized funds within the Community Development program budget.
Body
BACKGROUND
The CDBG Committee has traditionally requested Council approval to “carry over” previously authorized funds for certain Community Development Division (CDD) projects. Typically, this annual request has identified:
selected capital projects with unforeseen delays in project development;
programs that have encountered some difficulty beyond their control, or which face unusual circumstances; and
programs or projects for which funds are not yet 100% encumbered via written agreement.
Specifically, the CDBG Committee has identified the following previously authorized CDD projects and programs that meet one or more of the above criteria, and recommends their extension into 2016:
Home-Buy the American Dream (HBAD) loan program [CDBG, HOME, HCRI and City funds]
Common Wealth Development (CWD) Rental Housing Development [HOME and CDBG funds]
Community Development Authority (CDA) Truax Park Phase 2 Permanent Supportive Housing [HOME and AHTF funds]
Madison Area Community Land Trust (CLT) Housing Acquisition and Acquisition/Rehab [CDBG funds]
Wisconsin Partnership for Housing Development (WPHD) Lease-to-Purchase Housing Development and NSP Homeownership [HOME, Match and NSP funds]
2015-2016 Emerson East / Eken Park / Yahara neighborhood revitalization projects, which are yet to be selected by the EEEPY Neighborhood Plan Steering Committee [CDBG funds]
ACTION
WHEREAS, the U.S. Department of Housing and Urban Development (HUD)’s Community Development Block Grant (CDBG) program, as amended, which includes its Neighborhood Stabilization Program (NSP) component, and the CDBG implementing regulations located at 24 CFR 570, permit the City of Madison to help community agencies that benefit low- and moderate-income persons; and,
WHEREAS, HUD’s HOME Investment Partnerships (HOME) program, as amended, and its implementing regulations located at 24 CFR 92, permit the City of Madison to assist housing programs and projects that benefit low- and moderate-income persons; and,
WHEREAS, the Wisconsin Department of Administration’s Division of Housing (DOA-DOH)’s Housing Cost Reduction Initiative (HCRI) program (WI State ID 505.703A), as amended, and its implementing regulations located at 16.303 and 16.305, Wis. Stats., permit the City of Madison to help eligible homebuyers purchase affordable homes by providing downpayment, closing cost, and/or gap financing assistance; and,
WHEREAS, the CDBG Committee and Community Development Division staff have reviewed the recommendations identified above, find that they further the goals of the CDBG program expressed in the adopted 2015-2016 Community Development Program Goals & Objectives, and recommend Council approval of the carryover and extension requests articulated herein;
NOW, THEREFORE, BE IT RESOLVED, that the Common Council hereby approves the carryover of the previously authorized funds and the extension of associated CDD programs/projects identified in this Resolution, to be completed by December 31, 2016.