Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute The Attached Agreement With Hispanic Unity Of Florida, Inc. To Provide Housing Counseling Services In An Amount Not To Exceed $20,563.00.
Body
Staff Recommends Approval of Attached Resolution.
Explanation:
In 2013, the Legislative Budget Commission approved a $10 million allocation from National Mortgage Settlement funds to provide foreclosure counseling services to be administered by Florida Housing through the Foreclosure Counseling Program (FCP).
As part of the housing bill passed by the 2016 Legislature and signed by the Governor, language related to the FCP program allows Florida Housing to expand the types of counseling that can be provided to homeowners and prospective homebuyers. Among the new activities approved as eligible under FCP allows up to $3 million in funds for counseling (primarily pre-purchase counseling) to be transferred to the State Housing Initiative Partnership (SHIP) Program.
Subsequently, the Florida Housing Finance Corporation allocated $20,563.00 of FCP-SHIP funds to the City of Hollywood to be used to provide first-time homebuyer counseling, foreclosure prevention counseling, financial coaching, financial management education, and/or extended financial management through United States Department of Housing and Urban Development (HUD) Approved Housing Counseling Agencies.
Hispanic Unity of Florida, Inc. is the only HUD-Approved Housing Counseling Agency with offices located in Hollywood. Hispanic Unity of Florida, Inc. possess the requisite skills to provide first-time homebuyer counseling, foreclosure prevention counseling, financial coaching, financial management education, and/or extended financial management.
The attached agreement allows the City to fund Hispanic Unity with $20,563.00 in SHIP funds to be used within the eligibility confines of the FCP-SHIP allocation.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
Gus Zambrano, Assistant City Manager
Shiv Newaldass, Chief Development Officer/Interim Director of the Department of Development Services
Clay Milan, Community Development Division Manager