Title
HOME Program Funding in Response to COVID-19
Action
Action:
A. Adopt a budget ordinance appropriating $11,566,784 from the U.S. Department of Housing and Urban Development in the American Rescue Plan Act Fund, and
B. Authorize the City Manager to negotiate and execute any necessary contracts and agreements related to the HOME Program.
Body
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Explanation
* The U.S. Department of Housing and Urban Development's (HUD) HOME Program provides formula grants to states, localities, and communities based on population. These funds are used in partnership with local for-profit and non-profit groups to fund a wide range of activities such as constructing, purchasing, and/or rehabilitating affordable housing for rental or homeownership opportunities for households earning 80 percent and below the Area Median Income as mandated by HUD. HOME funds may also be used to provide direct rental assistance to low-income households.
* To help address the economic impacts of the COVID-19 pandemic, Congress appropriated additional HOME Program funds in H.R. 1319, the American Rescue Plan Act of 2021 (Act).
* As a result of the Act, the city is estimated to receive a total of $11,566,784 in additional HOME Program funding.
* This funding is in addition to $3,191,443 the city received for Fiscal Year 2022 through the regular annual HOME Program formula.
* Eligible uses of the funding include:
* Tenant-based rental assistance;
* The development and support of affordable housing pursuant to federal requirements;
* Supportive services such as transitional housing, housing counseling, and homelessness prevention services; and
* The purchase and development of non-congregate shelter units.
* HOME Program funding provided under the Act must be used to benefit individuals or families who are:
* Homeless;
* At risk of homelessness;
* Fleeing or attempting to flee domestic violence, dating violence, sexual assault,...
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