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  Consent-General Government   #   14.    
Board of Supervisors County Administrator  
Meeting Date: 07/24/2018  
Brief Title:    HOME Funds
From: Mindi Nunes, Assistant County Administrator, County Administrator’s Office
Staff Contact: Mindi Nunes, Assistant County Administrator, County Administrator's Office, x8426

Subject
Adopt resolution approving an application for $500,000 in funding from the State of California HOME Investment Partnerships Program for the First Time Home Buyer Down Payment Assistance Program. (No general fund impact) (Nunes)
Recommended Action
Adopt resolution approving an application for $500,000 in funding from the State of California HOME Investment Partnerships Program for the First Time Home Buyer Down Payment Assistance Program.
Strategic Plan Goal(s)
Thriving Residents
Reason for Recommended Action/Background
The First Time Home Buyer Down Payment Assistance Program was last active in 2010 when the County was awarded $800,000 in HOME funds from the State. Twenty-five families benefited from this grant at that time. As this program has been in place for years, the Program Guidelines defining outreach, marketing, application process and selection, loan processing and maintenance, repayment, etc. are already in place, requiring minimal updates based on any new rules/regulations from the State.

An inquiry list has been maintained which currently has 23 interested families. Yolo County Housing is currently under contract to manage the County loan portfolio and would be responsible for administering this program.

Staff recommends Board approval of the attached resolution in support of the County's application for $500,000 in HOME funds.
Collaborations (including Board advisory groups and external partner agencies)
Yolo County Housing, State of California Department of Housing and Community Development Department. This grant application has also been reviewed and approved by the County's Grant Oversight Committee. 

Fiscal Information
No Fiscal Impact
Fiscal Impact of this Expenditure
Total cost of recommended action
Amount budgeted for expenditure
Additional expenditure authority needed $0
On-going commitment (annual cost)
Source of Funds for this Expenditure
General Fund $0
Further explanation as needed
This action does not represent a fiscal impact. Should the grant funds be received, the majority of funds will be a pass through to eligible first-time home buyers. The County is applying for the maximum amount under the Notice of Funding Availability, $500,000 which will fund the following activities:

 

General Administration: $12,500

Activity Delivery: $32,500

Acquisition Only-Down Payment Assistance: $455,000

Attachments
Att. A. Resolution

Form Review
Inbox Reviewed By Date
Mindi Nunes (Originator) Mindi Nunes 07/12/2018 08:06 AM
Patrick Blacklock Patrick Blacklock 07/12/2018 08:24 AM
Financial Services Tom Haynes 07/17/2018 05:30 PM
County Counsel Hope Welton 07/18/2018 07:29 AM
Form Started By: Mindi Nunes Started On: 07/09/2018 03:58 PM
Final Approval Date: 07/18/2018
Level double AA conformance,
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