City of Madison - File #: 63936

• File #: 63936
• Version: 1
• Name: Awarding up to $1.7 million from the Affordable Housing Fund and up to $300,000 in Energy Efficiency and Conservation Block Grant (EECBG) funds to help finance the development of affordable housing, and up to $360,000 in Community Development Block Grant
• Type: Resolution
• Status: Passed
• File created: 1/27/2021
• In control: Community Development Division
• On agenda: 2/23/2021
• Final action: 2/23/2021
• Enactment date: 3/3/2021
• Enactment #: RES-21-00153
• Title: Awarding up to $1.7 million from the Affordable Housing Fund and up to $300,000 in Energy Efficiency and Conservation Block Grant (EECBG) funds to help finance the development of affordable housing, and up to $360,000 in Community Development Block Grant (CDBG) funds and up to $700,000 in HOME Investment Partnerships Program (HOME) funds to support four housing services programs, and up to $50,000 in City levy to support one homebuyer education program, as the recommended outcome of a competitive Request for Proposals (RFP) process conducted by the Community Development Division; and authorizing the Mayor and the City Clerk to enter into agreements with those agencies to implement the specified development projects.
• Sponsors: Christian A. Albouras, Samba Baldeh, Zachary Henak, Tag Evers, Syed Abbas, Marsha A. Rummel, Nasra Wehelie

Date	Ver.	Action By	Action	Result
2/23/2021	1	COMMON COUNCIL	Adopt Unanimously	Pass
2/8/2021	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
2/4/2021	1	COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE	Return to Lead with the Recommendation for Approval	Pass
2/3/2021	1	FINANCE COMMITTEE	Refer
2/2/2021	1	COMMON COUNCIL	Refer	Pass
1/27/2021	1	Community Development Division	Referred for Introduction

Fiscal Note
The proposed resolution authorizes awarding up to $1.7 million in affordable housing development loans and up to $1.36 million from CDD’s 2021 adopted operating budget to support four housing services programs. The proposed resolution also authorizes awarding up to $50,000 to support one homebuyer education program, which is included in the 2021 adopted operating budget. The $1.7 million proposed for developer loans will be funded by the estimated $4.1 million of remaining budget authority not yet committed to specific housing projects within the Affordable Housing-Development Projects capital program. The proposed $1.36 million of combined CDBG, HOME, and EECBG program funding is included in CDD’s 2021 Community Development Grants adopted operating budget. No additional City appropriation is required with adoption of this resolution.
Title
Awarding up to $1.7 million from the Affordable Housing Fund and up to $300,000 in Energy Efficiency and Conservation Block Grant (EECBG) funds to help finance the development of affordable housing, and up to $360,000 in Community Development Block Grant (CDBG) funds and up to $700,000 in HOME Investment Partnerships Program (HOME) funds to support four housing services programs, and up to $50,000 in City levy to support one homebuyer education program, as the recommended outcome of a competitive Request for Proposals (RFP) process conducted by the Community Development Division; and authorizing the Mayor and the City Clerk to enter into agreements with those agencies to implement the specified development projects.
Body
Background
The City of Madison’s 2021 Adopted Capital and Operating Budgets include approximately $1.3 million of Community Development Block Grant (CDBG) funds, approximately $2.6 million in HOME Investment Partnerships Program (HOME) funds, $900,000 in Energy Efficiency and Conservation Block Grant (EECBG) funds, $2 million from the City’s Affordable Housing Fund for the purpose of supporting...