Title
Approval of a Resolution to reallocate unobligated 2012 HOME Partnership Program (HOME) funds in the amount of $50,000 to the North Georgia Community Housing Development Corporation.
Presented by Michael Fischer, Deputy City Administrator
Body
Item Summary:
The Roswell Housing Authority (RHA) was allocated $50,000 for the Veranda at Groveway development contingent upon the approval of the RHA's application to the Department of Community Affairs for Low-Income Housing Tax Credits (LIHTC's). That application was not approved and no definitive timeline has been established for the beginning of the project. The city must reallocate the unused funds by the end of December 2013.
The funds must be re-allocated to a Community Housing Development Organization (CHDO). North Georgia Community Housing Development Corporation, a certified CHDO, has identified a housing rehabilitation program for owner occupied houses in the City of Roswell. The re-allocated funds will be used to fund upgrades to code for eligible homeowners.
Committee or Staff Recommendation:
On September 10, 2013, the Administration, Finance, Recreation and Parks Committee recommended placing this Item on the September 23, 2013 Mayor and Council Agenda.
Financial Impact:
$50,000 in FY 2012 HOME Partnership funds will be transferred from the Housing Authority of Roswell (RHA) to the North Georgia Community Housing Development Corporation (NGCHDC) to acquire or rehabilitate a Habitat for Humanity home.
Presented by:
Michael Fischer, Deputy City Administrator