AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER, OR DESIGNEE, TO EXECUTE THE ATTACHED INTERLOCAL AGREEMENT WITH BROWARD COUNTY FOR THE PREPARATION, IMPLEMENTATION, AND ADMINISTRATION BY BROWARD COUNTY OF THE CITY OF COCONUT CREEK’S HOME PROGRAM FUNDS FOR THE PROGRAM YEAR 2020-2021.
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BACKGROUND:
The HOME Program was created by the National Affordable Housing Act of 1990 to provide for the purchase, rehabilitation, and new construction of affordable multi-family and single-family housing for low-income families. Coconut Creek has been a participating jurisdiction in the Broward County HOME Consortium since 2009. The Broward County Housing Finance & Community Redevelopment Division began providing administration for the City’s Purchase Assistance for Income-Eligible Households program activities in May of 2020.
DISCUSSION:
The Broward County Housing Finance and Community Redevelopment Division has the ability to provide for the City’s management, administration, and implementation of the HOME Program and other related services. This division of Broward County already provides preparation, implementation and administration of the HOME Program to multiple Broward County municipalities. Through this proposed agreement, the County will be responsible for administering the City’s HOME funds totaling $112,177 in accordance with the HOME Program rules and regulations. The County will retain allowable administrative fees for these services. The agreement provides for joint local housing assistance activities for Program Year 2020-2021.
RECOMMENDATION:
Staff recommends approval of the resolution.
FISCAL IMPACT:
REVENUES: N/A
EXPENDITURES: N/A
BUDGETED? N/A
NOTES: Fees associated with the management, administration, and implementation of the HOME Program funds are provided through allowable administrative costs for the respective funding source.