Title
Renew the Charlotte-Mecklenburg Regional Housing Consortium
Action
Action:
Adopt a resolution authorizing the City Manager to renew the Charlotte-Mecklenburg Regional Housing Consortium Agreement to continue receiving an annual formula allocation of HOME funds effective July 1, 2021, through June 30, 2024.
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Miles Vaughn, Housing and Neighborhood Services
Body
Explanation
§ The Charlotte-Mecklenburg Regional Housing Consortium was established through a joint cooperation agreement in July 2003. The Consortium currently consists of the City of Charlotte; Mecklenburg County; and the towns of Cornelius, Davidson, Huntersville, Matthews, Mint Hill, and Pineville.
§ Each municipality is eligible to receive funding from the federal HOME Investment Partnerships Program (HOME Program) for the development of affordable housing with the city serving as the lead entity.
§ As the lead entity and largest recipient of funding, the city is required to re-affirm the commitment of consortium members and renew the agreement every three years per guidelines from the U.S. Department of Housing and Urban Development (HUD).
§ The HOME Program is the largest federal grant to states and local governments designed exclusively to create affordable housing for low-income households.
§ HOME funds can be used for acquisition, rehabilitation, new construction, tenant-based rental assistance, and homebuyer activities and programs such as down payment assistance.
§ The HOME Program provides formula grants to states, localities, and communities and is often used in partnership with local nonprofit groups to fund a wide range of activities such as constructing, purchasing, and/or rehabilitating affordable housing for rental or homeownership opportunities. HOME funds can also be used to provide direct rental assistance to low-income individuals.
§ The city reviews and approves funding proposals from Consortium members and also provides technical assistance. Quarterly meetings are held to discuss Consortium-member existing and planned activity to ensure compliance with HUD guidelines.
§ The renewal must be submitted to HUD on or before June 30, 2021.
Attachments
Attachment(s)
2012 Joint Cooperation Agreement
2021 Resolution Authorizing Agreement