Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Execute A Fourth Amendment To The HOME Agreement With HOPE South Florida, Inc. To Extend The Term Of The Agreement In Order For HOPE South Florida, Inc. To Provide Tenant-Based Rental Assistance To Eligible Participants In Hollywood.
Body
Staff Recommends: Approval of Attached Resolution.
Explanation:
Community Development programs are funded in part by federal funding made available through the Home Investment Partnership Act ("HOME") Program, which is administered by the U.S. Department of Housing and Urban Development ("HUD"). HOME funds are used to expand the supply of decent, safe, sanitary, and affordable housing, with primary attention given to rental housing for very low-income and low-income families.
Recent data from the U.S. Census American Community Survey estimates that fifty-seven percent of Hollywood renters are cost-burdened and there exists a deficit in the supply of rental units affordable to those in the very-low income band. According to the Broward County 2018 Point-In-Time Count Report the leading cause of homelessness in Broward County is jobs/employment/financial. The Community Development Division seeks to reduce the incidence of homelessness in Hollywood by providing the appropriate type of financial assistance. An eligible and recommended use of HOME funds is to provide Tenant-Based Rental Assistance ("TBRA") in accordance with 24 CFR Section 92.209.
On March 5, 2014, the City Commission passed and adopted Resolution No. R -2014-047 which authorized the execution of a HOME Agreement with HOPE South Florida, Inc. ("HOPE") to provide TBRA to individuals and households that have been referred as part of the Broward County Continuum of Care system. The City Commission has approved three amendments to the Agreement which have extended the term to September 30, 2019 and increased the total amount of ...
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