Label
34th (2025) Program Year HOME
Department of Housing and Community Development
Rosalyn Clemens (x3647)
Revised
Title
Authorizing the Mayor to accept, deposit, appropriate and expend the HOME Investment Partnership Program Grant in the amount of $1,965,724 from the U.S. Department of Housing and Urban Development (HUD) for the purpose of funding the 2025 HOME Investment Partnership Program; authorizing the expenditure of HOME Carryover funds from all years prior to program year 2024 (33rd) in the amount of $3,787,820.93; authorizing submission of the 2025-2029 Consolidated plan and the 2025-2026 Annual Action Plan to the U.S. Department of Housing and Urban Development; 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. 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.
The City of Toledo, as a recipient of HOME Investment Partnerships Program (HOME) funds, shall comply with all applicable regulations, directives, and guidelines issued by the U.S. Department of Housing and Urban Development (HUD). This includes adherence to the HUD-approved Five-Year Consolidated Plan for Program Years 2025 through 2030. Pursuant to HUD requirements, the City shall annually prepare and submit to HUD an Annual Action Plan, which outlines the City's strategy for implementing the priorities and objectives identified in the current Five-Year Consolidated Plan.
The submission of the Annual Action Plan is a condition of continued eligibility to rece...
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