SR - AGR-3987.O - 2014-15 HOME INVESTMENT PARTNERSHIPS PROGRAMAGENDA ITEM
April 8, 2014
UIYTY
TO: Honorable Mayor and
Members of the City Council
THRU: John W. Sibley
City Manager
FROM: Rick Otto
Interim Communi lopment Director
ReviewedNer'ried By:
City Manager
Finance Dire or
To Be Presente
ry Ellen Laster
Cons Calendar
City Mgr Rpts
Council Reports
_ Legal Affairs
Boards /Cmtes
X Public Hearings
Admin Reports
Plan/Environ
1. SUBJECT
FY 2014 -15 HOME Investment Partnerships (HOME) Program
2. SUMMARY
The City receives annual HOME grants from the U.S. Department of Housing and Urban
Development (HUD). The City's FY 2014 -15 HOME grant will be $310,385. The allocation of
funds for proposed projects would be subject to City Council approval.
3. RECOMMENDATION
1. Authorize staff to request and receive its FY 2014 -15 HOME grant from HUD.
2. Authorize the City Manager or his designee to execute the FY 2014 -15 HOME Program
Grant Agreement and all related documents on behalf of the City.
4. FISCAL IMPACT
Sufficient funds will be granted by HUD and appropriated to the 317 Fund (HOME Program)
during the budget process.
5. STRATEGIC PLAN GOAL(S)
Goal 3: Enhance and promote quality of life in the community.
Strategy c.: Support and enhance attractive, diverse living environments.
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FY 2014 -15 HOME Program
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6. GENERAL PLAN IMPLEMENTATION
Housing Goal 2.0 Assist in the development of adequate housing to meet the needs of Low and
Moderate Income households.
7. DISCUSSION and BACKGROUND
HUD provides annual HOME grants to the City for eligible housing activities. During the past
17 years the City has provided HOME funds to developers for the acquisition, rehabilitation, and
development of several affordable multi - family housing projects.
To date, the following HOME - funded projects have been completed: the Adams Avenue Family
Triplexes I and II, Harmony Creek Senior Apartments, Lemon Street Apartments, Orange Garden
Apartments, Orange Rotary /Orange Housing Development Corporation Senior Plaza Apartments,
Rose Avenue Apartments, Stonegate Senior Villas, Villa Modena Apartments, Wilson Avenue
Apartments II and III, Hoover Avenue Apartments 11, Citrus Grove Apartments, and Serrano
Woods Apartments. In return for this assistance, the developers agreed to long -term affordability
covenants, which require that rents be maintained at affordable levels for Low to Moderate
Income tenants for 55 to 65 years.
The City's FY 2014 -15 HOME grant will be $310,385. Based upon this amount, funding would
be allocated under the following categories: Program Administration (10 percent cap) - $31,038,
Developer Projects - $232,789, and Community Housing Development Organization (CHDO)
Projects (15 percent cap) - $46,558.
Council authorization is requested to enable the City to administer its FY 2014 -15 HOME
Program. As in previous years, the allocation of funds for proposed projects would be subject to
City Council approval.
8. ATTACHMENTS
None
N: \CDD\H0US1NGU 0X06\2014- 15 \SR4 -8 -14 Hearing
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