Label
33rd (2024) Program Year HOME
Department of Housing and Community Development
Rosalyn Clemens (x3647)
Title
Authorizing the acceptance, deposit, appropriate and expenditure the HOME Investment Partnership Program Grant in the amount of $1,899,015 from the U.S. Department of Housing and Urban Development (HUD) for the purpose of funding the 2024 HOME Investment Partnership Program; authorizing the expenditure of HOME Carryover funds from all years prior to program year 2023 (32nd) in the amount of $2,646,953; and authorizing submission to the U.S. Department of Housing and Urban Development the 2024-2025 Annual Action Plan; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo (COT) receives from the U.S. Department of Housing & Urban Development (HUD) a designated amount of HOME Investment Partnership Program (HOME) funding, annually, as an entitlement city and participating jurisdiction, to create and maintain affordable housing for low- and moderate-income households. The city’s receipt and acceptance of HOME funding requires compliance with HUD regulations, directives, and guidelines, as well as, priorities established in the HUD approved 2020-2024 Five Year Consolidated Plan and the Annual Action Plan for the City of Toledo. HOME funds are used by the City for administration of the program, rental housing development, down payment and closing costs assistance, Community Housing Development Organization (CHDO) set aside, homeowner rehabilitation, and homebuyer units development.
This Ordinance is to authorize the Mayor to submit to HUD the 2024-2025 Annual Action Plan on June 28, 2024; accept and deposit the 2024 Program Year HOME allocation received from HUD into the appropriate Account Codes; and expend the 2024 Program Year HOME allocation $1,899,015 as well as the HOME carryover funds in an amount of $2,646,953 from all years prior to program year 2023 (32nd).
The financial impact of this Ordinance is the receipt of a HOME 2024 Program Year grant of $1,899,015 from HUD provide affordable housing to low- and moderate-income households; and authorization for the expenditure of HOME carryover funds in an amount of $2,646,953 from all years prior to program year 2023 (32nd).
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to submit the 2024-2025 Annual Action Plan to HUD, as well as, accept the 33rd (2024) Program Year HOME allocation from HUD in the amount of $1,899,015 and deposit the amount received from HUD into Account Code 2025-16200-5GH3302STDREH (Toledo HOME Program Fund) pursuant to HUD regulations.
SECTION 2. That the appropriation in the amount of $1,899,015 is authorized from the unappropriated grant proceeds in the Toledo HOME Program Fund into various accounts within 2025-16200, and further authorizing the expenditure of the same pursuant to Schedule A.
SECTION 3. The expenditure of a portion of the HOME carryover balance in the Toledo HOME Program Funds (2025) from all years prior to program year 2023 (32nd) in the amount of $2,646,953 pursuant to Schedule B.
SECTION 4. That the Mayor and the Director of Housing and Community Development are authorized to enter into the necessary contracts or agreements to implement the activities and programs described in the 2024-2025 Annual Action Plan in furtherance of HUD objectives and pursuant to HUD regulations, directives and guidelines, as applicable and pertinent to the HOME Grant.
SECTION 5. That the Finance Director is authorized to issue warrant or warrants against Account Code 2025-16200 in an amount not to exceed $1,899,015 from the HOME fund in payment of all obligations authorized under the 2023 (32nd) year and not to exceed $2,646,953 from the HOME carryover balance from all years prior to program year 2023 (32nd) upon presentation of properly approved documentation.
SECTION 6. That this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage. The reason for the emergency is the fact that this Ordinance is necessary for the immediate preservation of the public peace, health, safety and property, and for the further reason that this Ordinance must be immediately effective in order to allow the City of Toledo to submit the 2024-2025 Annual Action Plan, qualify under the regulations of the HOME Investment Partnership Program, and to receive the money necessary to carry out its planned affordable housing development activities for the 33rd (2024) year beginning July 1, 2024, and ending June 30, 2025.
Vote on emergency clause: yeas 10, nays 0.
Passed: June 18, 2024, as an emergency measure: yeas 10, nays 0.
Attest:
Julie A. Gibbons Carrie Hartman
Clerk of Council President of Council
Approved: June 18, 2024
Wade Kapszukiewicz
Mayor