Label
32nd (2023) 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 $2,551,780 from the U.S. Department of Housing and Urban Development (HUD) for the purpose of funding the 2023 HOME Investment Partnership Program; authorizing the expenditure of HOME Carryover funds from all years prior to program year 2023 (32nd) in the amount of $1,261,292.36; and authorizing submission to the U.S. Department of Housing and Urban Development the 2023-2024 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) Grant dollars, as an entitlement city and participating jurisdiction, for the purpose of meeting HUD national objectives, as well as, providing affordable housing to low- and moderate-income individuals or families. The city's receipt and acceptance of the grant amount compels it to utilize the funds within certain HUD regulations, directives, and guidelines, as well as, pursuant to the HUD approved Five Year Consolidated Plan and the Annual Action Plan for the City of Toledo. Specifically, the Consolidated Plan which the COT must follow is in effect from 2020 through 2024. Each year, however, the COT submits to HUD its Annual Action Plan, describing how it will continue to implement and execute the current Five Year Consolidated Plan but within the subject Program Year. The City must submit the One Year Action Plan each year within the respective five-year period in order to continue to receive the annual HOME allocation from HUD.
This Ordinance is to authorize the Mayor to submit to HUD the 2023-2024 Annual Action Plan, accept the 2023 Program Year HOME allocation from HUD, deposit the HOME funds received...
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