Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The State Housing Initiatives Partnership Program (SHIP) Local Housing Assistance Plan For State Of Florida Fiscal Years 2014-2015 And 2015-2016.
Body
Staff Recommends Approval of Attached Resolution.
Explanation:
The City Commission is requested to hold a public hearing on the proposed State Housing Initiative Partnership Program (SHIP) Local Housing Plan (LHAP) for State of Florida fiscal years 2014/2015 and 2015/2016.
The City is required to develop a one to three year plan that outlines how anticipated funds shall be expended. Typically, staff does a three year plan using the upcoming State of Florida fiscal year allocation as a baseline. As the actual allocation is revised and program income is received, staff amends the LHAP to reflect the new totals.
Staff proposes the following funding strategy:
FY 2014-2015:
1) Housing Rehabilitation Loan Assistance $ 845,673
2) Administration of Program $ 55,094
FY 2015-2016:
1) Housing Rehabilitation Loan Assistance $ 656,525
2) Administration of Programs $ 34,554
Recommended for inclusion on the agenda by:
Dr. Wazir A. Ishmael, City Manager
Gus Zambrano, Assistant City Manager for Sustainable Development