COUNTY OF ALBEMARLE
Thomas Jefferson HOME Consortium
SUBJECT/PROPOSAL/REQUEST: Approval of staff recommendation for allocating funds available July 1, 2004
Tucker, Roxanne White, Ron White
AGENDA DATE: ITEM NUMBER:
April 7, 2004
ACTION: X INFORMATION:
The U.S. Department of Housing and Urban Development (HUD) annually provides funding under the HOME Investment Partnership Program to units of state and local government through formula allocations. Only the larger jurisdictions receive funding under the established formulas. HUD does, however, allow smaller localities to form a consortium in order to receive an allocation of HOME funds.
Albemarle County has participated as a member of the Thomas Jefferson HOME Consortium (six jurisdictions of the Planning District) since 1992 sharing in over $10 million in HOME funds to support affordable housing initiatives in the region. HUD requires that an Action Plan be developed annually prior to receipt of HOME funds. The Plan will include a summary of current year activities and a proposal on how funds will be used for the coming year, beginning July 1, 2004. A more detailed annual performance plan will be prepared for HUD after the end of the fiscal year. This report will be presented to the Board at that time.
Each locality receives an equal annual appropriation estimated this year at $128,500. In addition, HUD has established an additional set-aside for the American Dream Downpayment Assistance Initiative (ADDI) that will bring Albemarle County $20,260 to assist first-time homebuyers. HOME will also provide $5,996 in administrative funds.
In prior years, the Albemarle Housing Improvement Program has been designated the subrecipient for the County allowing them to receive and administer the funds. The majority of funds were earmarked for rehabilitation of owner-occupied housing. This year, approximately $89,000 was used to rehab 6 homes (4 complete and 2 pending). $40,000 was used to cover additional costs at Whitewood Village Apartments including some relocation costs.
Staff recommends the following allocation of HOME funds for fiscal year beginning July 1, 2004:
$98,760 for owner-occupied rehab designating AHIP as subrecipient
$ 4,600 in admin funds to AHIP
$29,740 of regular HOME funds for first-time homebuyer assistance (administered by Office of Housing
$20,260 of ADDI funds (administered by Office of Housing and/or PHA)
$ 1,396 in admin funds to County
At its March 10 meeting, the Housing Committee approved this recommendation for allocating HOME funds.
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