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Title:
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Subject: Communication sponsored by Mayor Mason regarding Habitat for Humanity’s request for the CHDO reserve/operating funds and HOME funds, for a total of up to $850,495.00, to build three new homes on the vacant lot located on the corner of Geneva St. and West St. (parcel #276000002879000).
Staff Recommendation: Staff recommends that the CDBG Advisory Board approve the distribution of HOME funds up to $99,007 of CHDO Reserve Funds, $85,494.65 of CHDO Operating Funds, and $665,993 of HOME-funded Construction funds to Habitat for Humanity.
Fiscal Note: There are sufficient HOME Funds to facilitate the loan and grant for the development of three new homes. Program income received will be redirected back into the HOME Fund.
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