HomeMy WebLinkAbout1995-040-03/21/1995-AFFORDABLE HOUSING DISBURSEMENT HOME PROGRAM FUNDS HUD RESOLUTION 95-40
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING PROCEDURES FOR THE DISBURSEMENT OF HOUSING
AND URBAN DEVELOPMENT "HOME" PROGRAM FUNDS
WHEREAS,in May, 1994,the City received designation as a participating jurisdiction in the
Housing and Urban Development "HOME" Program (the "Program"), the intent of which Program
is to expand the supply of decent, safe and sanitary and affordable housing in the City and to
strengthen the ability of the City to provide housing and expand the capacity of non-profit
community based housing development organizations to provide affordable housing; and
WHEREAS, implementation of the Program requires that the City establish a procedure for
the disbursement of Program funds to applicants who propose to increase the number of affordable
housing units in the City, or who are low income individuals who desire to receive assistance in
becoming homeowners; and
WHEREAS, the staff, after discussion and process with interested parties, has proposed to
the Council a procedure for the disbursement of Program funds which the Council has determined
to be in the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the following procedure be adopted for the purpose of processing applications and
making disbursements of Program funds:
1. Applications for the disbursement of Program funds will be accepted
by the City throughout the year and decisions on funding will be made on a case-by-
case basis for projects which meet the following established criteria:
a. The applicant and the subject property are verified by the-City
to be eligible for Program funding.
b. The project conforms with the housing priorities contained in the
City's HUD approved Consolidated Plan or the City's Comprehensive
Housing Affordability Strategy (CHAS), whichever is in effect.
C. The applicant demonstrates that it has the ability to abide by
the conditions of and perform the obligations of the Program contract.
d. The project is determined by the City to be feasible.
2. The process to award funding of projects will be as follows:
a. An application for funding is submitted to HOME. (Any
application for CDBG funds for an eligible HOME activity shall also
be considered an application for HOME funds.)
b. City staff will screen the application for basic eligibility and
program priority conformance.
C. City staff will forward the application to the Colorado
Division of Housing for "pro forma" analysis, as applicable. The
applicant will be advised of any necessary changes/revisions that need
to be made. (Homebuyer applications for down payment/closing
costs will not be required to have this review.)
d. The application will be reviewed by the CDBG Commission
for recommendation for funding.
e. The application will be reviewed by City Council for final
decision.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this
21st day of March, A.D., 1995.
1
ayor
ATTEST:
City Clerk