Agenda - 12-07-1999 - 9d - Laserfiche WebLink

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c. Existing Programs i.Rental Property Acq/Rehab a. EmPOWERment, Inc. $100,000 8 standard, one - bedroom Sykes /Gomains Street apartments b. Hargraves Street $100,000 11 standard apartments c. OPC Mental Health $ 80,000 2 condominiums ii. Urgent Repair Program $100,000 30 owner-occupied dwellings TOTAL $1,520 000 TOTAL 145 units A summary of each project is provided with this abstract. Full copies of all proposals are available under separate cover. Additionally, two other projects were reviewed by the committee but not recommended for funding at this time. These projects were submitted by Pines Community Center, Inc. and EmPOWERment, Incorporated. A summary of the committee findings is also included with this abstract. FINANCIAL IMPACT: The proposed projects total $1,520,000 and is leveraged by approximately $8,194,947. This recommendation represents the commitment of all but $280,000 of housing bond funds. OTHER IMPACTS: 1. The County has recently developed a Fair Housing Plan which identifies impediments to fair housing choice within the jurisdiction, and, outlines appropriate actions to overcome the effects of any impediments identified through the analysis. There is no direct correlation between the approval of bond projects and the approval of the Fair Housing Plan. However, the County should expect non -profit agencies receiving bond funding to affirmatively further fair housing in the implementation of their housing activities. 2. Two organizations, Habitat for Humanity of Orange County, Inc. and EmPOWERment, Inc. have advised of the expiration of land options in December 1999. Failure to receive an allocation of bond funds and subsequently close on these land purchases will cause these organizations to lose available property. (See attached letters). 3. On November 8, 1999, Congressman David Price announced the award of a Economic Development Initiative (EDI) grant in the amount of $250,000 to the Community Land Trust of Orange County, Incorporated. This grant was not solicited by the Community Land Trust, thus, there are no current plans for the expenditure of grant funds. Presently, the Land Trust and the Orange Community Housing Corporation are researching the program regulations to determine the type of activities eligible under this grant in order to begin planning for future projects. Additionally, most HUD funding is laden with compliance requirements that will require substantial "start-up" time which could be six months to one year based on the experience of other localities. RECOMMENDATION(S): The Manager recommends approving the recommended projects for the Orange County Housing Bond Program within a time frame that allows these expenditures to be included in the bond sale scheduled for the Spring of 2000. Approval at the December 7, 1999 or January 18, 2000 meeting should be adequate to meet the deadline for the bond sale.