5.
COMMITTEE VOTE REQUIRED
5.A.
Recommendation for approval of updates to the HOME Risk Assessment &
Monitoring/Financial Viability of HOME Funded Projects Policy, to be known as the
HOME Applications, Risk Analysis, and Monitoring/Financial Viability of HOME
Funded Projects Policy.
Julie Hamlin, the Administrator of Community Development, stated that they are
proposing minor changes to the existing policy. The most important change they are
proposing is the ability to have a formal notice of funding availability announcement
made that would seek to obtain specific letters of intent for their HOME funded projects.
Right now, they have it on a rolling cycle and there has been a lot of interest in their
home funding for more affordable housing projects throughout the county. Currently
CDC process requires that a full application would be due, which is a quite intense
application for not only the applicant to fill out but also for CDC staff to review. By
having the ability to set a date for a letter of intent and an application, Community
Development can build that into their workflow and then be aware it is coming and can
dedicate staff time to those application reviews. This will be similar to how the Illinois
Housing Development Authority (IHDA) has the requirement for the Preliminary Project
Assessment, or PPA, the CDC letter of intent will mirror that process. A lot of CDC
applications are tied to low-income tax credit funding, so it would be nice to align the
Community Development process with IHDA's LIHTC cycle as well.
Member Rutledge asked if this is the program that does home repairs and if there is a
relationship between this funding and the Ad-Hoc Committee funding. Ms. Hamlin
explained the two are not the same, the HOME Investment Partnership program funding
is a federal program, where Ad-Hoc is a county delegated program. It is possible the
funding could be layered between the two entities. This particular policy is just for their
CDC HOME Investment Partnership program funding.
APPROVED
RESULT:
MOVER:
SECONDER:
AYES:
Sheila Rutledge
Paula Garcia
Chassee, Yoo, Garcia, Rutledge, Flint, Evans, and LaPlante
Bastian, Barfuss, Bricks, Cage, Childress, Crandall, Hocking, Honig,
Krajewski, and Schwarze
ABSENT: