| | | | | | | |  |
CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/19/2017
ALL
Item Creation Date: 5/3/2017
HCD17-49 Appropriation of Tax Increment Reinvestment Zone (TIRZ) Affordable Housing Funds for Single and Multifamily Affordable Activities
Agenda Item#: 29.
| |
|
| | | | | | | | Summary:
ORDINANCE appropriating up to $46,114,987.70 in Tax Increment Reinvestment Zone Affordable Housing Funds for Single Family and Multi Family Affordable Housing Activities, including costs associated with the administration of the City’s Affordable Housing Program
DELAYED BY MOTION #2017-549, 9/6/17
This was Item 3 on Agenda of September 6, 2017 |
| | | | | | | | Background:
The Housing and Community Development Department (HCCD) recommends the appropriation of $46,114,987.70 of Tax Increment Reinvestment Zone (TIRZ) Affordable Housing Funds to build single-family and multifamily affordable homes, as well as to administer HCDD’s affordable home activities.
This Ordinance allocates funds for administrative use. For direct program activities, specific contracts will be brought to Council for allocation in accordance with local procurement rules. Following the federal requirement, TIRZ appropriations will be considered substantially amended and then brought back to City Council for approval when a previously approved amount is decreased or increased by 25% or more. A brief description of each TIRZ funding category follows.
|
Category
|
Total Amount
|
Description
|
|
Single-Family Activities
|
$17,900,489
|
Single family activities for, but not limited to, home repair, new construction, Down Payment Assistance and activity delivery cost
|
|
Multifamily Activities
|
$10,000,000
|
Multifamily rehab and new construction and activity delivery cost
|
|
Land Acquisition
|
$10,000,000
|
Acquisition of property for, but not limited to, the Community Land Trust and activity delivery cost
|
|
Affordable Housing Administration & Federal/State Grant Leveraging
|
$4, 614,498.70
|
Administrative cost for administering local, state and federal funded activities by HCDD
|
|
Efforts to End Homelessness
|
$2,000,000
|
Efforts leading to permanent homes for homeless individuals
|
|
Rent/Lease
|
$ 850,000
|
Office space for HCDD (601 Sawyer)
|
|
Information Technology
|
$ 750,000
|
OnBase – Hardware, software, and storage expenses for document tracking for compliance purposes
|
|
Total
|
$46,114,987.70
|
|
There is no estimated impact to the operating and maintenance costs as a result of this project. Therefore, no fiscal Note is required as stated in the Financial Policy Ord. 2014-1078.
This item was reviewed by the Housing and Community Affairs Committee on April 18, 2017.
_______________________________________________
Tom McCasland
Director, Housing and Community Development Department |
| | | | | | | | Amount and Source of Funding:
$46,114,987.70
Tax Increment Reinvestment Zone (TIRZ) Affordable Housing - Fund 2409 |
| | | | | | | | Contact Information:
Roxanne Lawson
Phone: (832) 394-6307 |
|