Subject:
Title
HOME Investment Partnerships Program Subrecipient Agreement with the City of Largo for affordable housing activities.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the HOME Investment Partnerships Program (HOME) Subrecipient Agreement with the City of Largo (City) for affordable housing activities.
• This agreement provides HOME funding to the City for eligible affordable housing program activities benefiting approximately seven (7) qualified households in the City.
• The Agreement is effective from October 1, 2024, to September 30, 2026, and is not to exceed $247,426.60 in HOME entitlement funds.
• The County received $1,091,182.09 in HOME funds for Fiscal Year (FY) 2024-2025 to be used exclusively to create affordable housing for low- to moderate-income households.
• The County and the City formed a partnership (Consortium) under the HOME program to address affordable housing issues for low- and moderate-income households, with the County as the lead agency for the Consortium.
• Funding for this agreement is sufficiently included in the FY25 Operating Budget for Housing and Community Development in the Community Development Grant Fund. Body
Strategic Plan:
Ensure Public Health, Safety, and Welfare
2.2 Be a facilitator, convener, and purchaser of services for those in need
Foster Continual Economic Growth and Vitality
4.2 Invest in communities that need the most
4.3 Catalyze redevelopment through planning and regulatory programs
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
Summary:
At the July 30, 2024, Board of County Commissioners (Board) meeting, the Board approved agenda item #43 (Granicus #24-1067A), Resolution 24-46 approving the FY25 Annual Action Plan. Included as an attachment in the approved Action Plan is the FY25 Funding Recommendations table, which identifies each specific project, subrecipient, and funding award amount.
The City of Largo’s affordable housing programs were approved as projects to be carried out under the County’s FY25 Annual Action Plan. This Agreement will provide funding to the City for HOME eligible affordable housing programs benefiting qualified households in the City; a portion of the funds may also be used for administration of the activities.
The Agreement is effective from October 1, 2024, to September 30, 2026.
Background/Explanation:
In accordance with the adopted Consolidated Plan and Annual Action Plan, it is necessary to enter into Specific Performance Agreements with qualified agencies to allow for certain activities stated in the Annual Action Plan to be contractually delegated and specify the obligation of the agencies receiving funds in meeting Federal, State and County requirements.
The County received $1,091,182.09 in HOME funding for FY25. Funding is to be used to create affordable housing for low- to moderate-income households. HOME funds are distributed to HOME Consortium members using the HOME Consortia Share Report, provided annually by the U.S. Department of Housing and Urban Development. The City’s minimum funding allocation, as provided in the HOME Consortia Member Share Report is $224,456.20, or 20.57% of the total HOME allocation, with up to 10.0% of funding available for administrative costs.
The HOME Notice of Funding Availability (NOFA) was advertised in the Tampa Bay Times, The Weekly Challenger, La Gaceta and Tre Magazine, posted on the Community Development website, and emailed to nonprofit agencies and local municipalities.
Applications for County HOME funds for affordable housing are accepted continuously.
Fiscal Impact:
The total amount of entitlement funding for this agreement is not to exceed $247,426.60 during the term of the Agreement.
Funding for this agreement is sufficiently included in the FY25 Operating Budget for HCD in the Community Development Grant Fund.
Delegated Authority:
Authority for the County Administrator to execute the Specific Performance Agreements is granted in Resolution No. 24-46.
Staff Member Responsible:
Glenn Bailey, Interim Director, Housing and Community Development
Partners:
City of Largo
U.S. Department of Housing and Urban Development
Attachments:
HOME Investment Partnerships Program Subaward Subrecipient Agreement
FY24-25 HOME Consortia Share Report
2024-2025 Funding Recommendations
Resolution No. 24-46