Title
A Resolution Of The City Commission Of The City Of Hollywood Florida, Approving The Local Housing Assistance Plan For Fiscal Years 2022 Through 2024 Pursuant To The State Housing Initiatives Partnership Program Act; Authorizing The Appropriate City Officials To Execute All Documents Required For The Local Housing Assistance Plan For Fiscal Years 2022 Through 2024; Authorizing The Appropriate City Officials To Transmit The Local Housing Assistance Plan For State Of Florida Fiscal Years 2022 Through 2024 To The Florida Housing Finance Corporation.
Strategic Plan Focus
Quality of Life & Strong Neighborhoods
Body
Staff Recommends: Approval of Attached Resolution.
Explanation:
The City is required to develop a one to three year plan that outlines how anticipated funds shall be expended. Staff has developed a three year plan using the anticipated State of Florida allocation of $1,564,785.00. The following activities are proposed to be funded annually by the State of Florida fiscal years 2022-2023, 2023-2024, and 2024-2025. Each activity has a maximum award amount per unit with not to exceed amounts.
* Owner-Occupied Rehabilitation- $543,307.00 - The maximum award amount is $90,000.00 per unit with the minimum amount of 6 units. (The Housing Goals Chart lists $540,000.00. It is a protected template that does not take into account figures any less than the Max Award and staff required not to exceed the allocation total. There will be $3,307.00 remaining that would be dedicated to Owner-Occupied Rehabilitation).
* Demolition Reconstruction - $220,000.00 - The maximum award amount is $220,000.00 per unit with the minimum amount of 1 unit.
* Emergency Repair- $100,000.00 - The maximum award amount is $25,000.00 per unit with the minimum amount of 4 units.
* Rental Assistance - $90,000.00 - The maximum award amount is $10,000.00 per unit with the minimum amount of 9 units.
* Rental Development - $135,000.00 - The maximum award amount is $22,500.00 per unit w...
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