R2007-70 AUTHORIZING AGREEMENT - Laserfiche WebLink

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Economic and Urban Development Deparhnent Memorandum # 07-51 April 10, 2007 TO: Honorable Ma or Osborne and Cit Council Y Y FROM: Steve Garm City Manager ' ,, , Greg Crow irector of Economic and Urban Developmen� � Vickie Buc i gham, Assistant Director of Economic and Urban Development �, ; Richelle D. Irons,Neighborhood Redevelopment Manager �s. Randi Still,Neighborhood Program Specialist �,yl� SUBJECT: FY 06-07 HOME allocation to NHDC for Affordable Green Housing Initiative RECOMMENDATION: Staff recommends approval of the attached resolution regarding FY2006 HOME funding for the Neighborhood Housing Development Corporation (NHDC). The resolution provides $244,000 in project funds and $4,200 in operating funds toward the rehabilitation of five-vacant single- family homes for sale to low-moderate-income households located on Decatur's Southeast side, which is one of the three targeted areas marked for housing rehabilitation initiatives. This rehabilitation will include"green"housing and energy efficiency techniques. BACKGROUND: In March, 2007, the City of Decatur published a Request for Proposals FY 2006-07 HOME for Affordable Housing Development. Applications were received from one organization and scored by staff. Neighborhood Housing Development Corporation (NHDC) was the only qualified responder, and staff recommends approval of funding for the Affordable Green Housing Project by NHDC. This award of $244,000 would be in addition to the $4,200 in CHDO operating funds for this project. Funds from this allocation would be used for renovation and soft costs associated with the rehabilitation of five vacant single-family structures. The homes would be sold to low to moderate-income households. Total project cost for the Affordable Green Housing Project is estimated to be $465,185. NHDC has been approved for financing through local private resources to complete projects. Agreement for the project described above is attached. POTENTIAL OBJECTIONS: None known. INPUT FROM OTHER SOURCES: Neighborhood Redevelopment Staff, HOME regulations and guidelines. - STAFF REFERENCE: If City Council members have questions, they may contact Vickie Buckingham at 424-2777 or e- mail at vbuckingham@decaturnet.org.