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Staff does not recommend funding of the project proposed by NWRAPS (rehabilitation of one <br /> 5-bedroom house at 647 West William Street) due to the high per-unit subsidy amount requested, <br /> financial unfeasibility of the project, and unsuitability of the home for resale to a low-income <br /> household. Staff recommends that the remaining $84,222 of budgeted project funds and $14,000 <br /> of operating funds be carried over and included in the FY2005 CHDO application cycle, which <br /> could begin in summer 2005. <br /> POTENTIAL OBJECTIONS: . <br /> None known. <br /> INPUT FROM OTHER SOURCES: <br /> Neighborhood Redevelopment Staff,HOME regulations and guidelines. <br /> STAFF REFERENCE: <br /> If City Council members have questions, they may contact Vickie Buckingham at 424-2777 or <br /> e-mail at vbuckingham@decaturnet.org. <br /> BUDGET/TIME IMPLICATIONS: <br /> Project may commence upon City Council approval. <br />