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County Administrator's Report 11. 5.

BCC Regular Meeting

Technical/Public Service Consent

Meeting Date:	11/17/2015
Issue: HOME Investment Partnerships Program (HOME) Homebuyer Program Modification
From:	Tonya Gant
Department:	Neighborhood & Human Svcs
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the HOME Investment Partnerships Program (HOME) Homebuyer Program - Tonya Gant, Neighborhood & Human Services Department Director

That the Board modify the HOME Investment Partnerships Program (HOME) Homebuyer Program (Program) to increase the amount of assistance to make the County or City Community Redevelopment Areas the targeted locations, to allow for any homebuyer making the property his/her principal residence to participate, and to restrict the property type to new construction only.

BACKGROUND:

The Board approved the use of HOME Investment Partnerships Program (HOME) funding for homebuyers under the 2014 HUD Annual Plan and through a Substantial Amendment to the 2013 Annual Plan (see Exhibit I). These actions were taken at a time when little or no funding had been provided to the County and City of Pensacola through the State Housing Initiatives Partnership (SHIP) Program. Now that SHIP funding is available to first time buyers, there has been a limited demand to use the HOME funds. HUD has also increased the reporting requirements through the HOME program, making it a more cumbersome for lenders and staff to implement over the SHIP homebuyer program.

In order to promote the HOME homebuyer program, staff is proposing the following changes to the HOME program to support targeted infill in County and City Community Redevelopment Areas (CRAs):

	FROM	TO
Assistance Level:	$7500	$12,500
Buyer Classification:	First Time Homebuyer	Any Homebuyer (must make property their principal residence)
Targeted Area:	None	County or City CRAs
Property Type:	New or Existing	New Construction only

A draft Program brochure (Exhibit II) and Program Policy and Lender Guidelines (Exhibit III) are provided incorporating the recommended changes.

BUDGETARY IMPACT:

Funds for this program are already approved and budgeted in Fund 147/2013 and 2014 HOME, Cost Centers 370265 and 370266.

LEGAL CONSIDERATIONS/SIGN-OFF:

Not applicable to this recommendation.

PERSONNEL:

No changes in personnel required for this Program.

POLICY/REQUIREMENT FOR BOARD ACTION:

Modifications to Program policies and procedures must be approved by the Board.

IMPLEMENTATION/COORDINATION:

The Neighborhood Enterprise Division will implement this Program jointly with the City of Pensacola Housing Office, similar to the SHIP First Time Homebuyer Program.

Attachments
EX I-HUD HOME Plan Summary
EX II-HOME homebuyer brochure
EX III-HOME guidelines