DATE: April 25, 2017
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator-Community/Economic Development
Chris Bridgewater, Director BNS
Kathleen Sauseda, Housing Development Coordinator
SUBJECT:
title
*Consideration of Resolution 2017-16, A Resolution to Approve Year 3 Action Plan of the CDBG Consolidated Plan. (04/25/17 WS)
body
Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning Resolution 2017-16 to approve the programming and allocation for the Year 3 Action Plan of the City’s five-year Consolidated Plan.
Background
The City of Franklin has identified affordable housing development as an important issue in the community. The mission of the Community Development Block Grant program in Franklin is to develop, in cooperation with its residents, business partners, and not-for-profit housing agencies, viable urban communities by providing decent housing and a suitable living environment and to expand economic opportunities principally to low and moderate-income persons.
The Department of Housing and Urban Development requires entitlement cities to develop and submit an Annual Action Plan reflecting the projections of the next fiscal year. Suggested programs for the third year Action Plan are similar to the previous year.
|
Community Based Development Organization |
$190,000.00 (76%) |
|
Homeownership/Fair Housing Counseling |
$10,000.00 (4%) |
|
Administration |
$50,000.00 (20%) |
|
|
|
|
Total Anticipated |
$250,000.00 |
Financial Impact
Staff recommends approval of the following programs and allotment by percentage. Funds allocated to Administration can be drawn down to offset the City’s administrative costs, such as the salary and training of the Housing Development Coordinator.