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Town of Chapel Hill Executive Summary |
Meeting Date: 05-04-2009 AGENDA #4a |
Title of Agenda Item: Town Applications for the 2009-2010 Community Development and HOME Programs and Submittal of the Annual Update to the 2005-2010 Consolidated Plan
Background: The attached staff memoranda provide recommended 2009-2010 Community Development and HOME Program Plans, and Annual Update to the 2005-2010 Consolidated Plan. A summary of comments and applications received for Community Development and HOME Program funding is also included in each memorandum.
Fiscal Note: Adoption of a Community Development Plan would allocate the 2009-2010 Community Development Program funds to eligible activities.
Adoption of the HOME Program plan by the Council and by all of the participating jurisdictions would allocate the 2009-2010 HOME Program funds to eligible activities. We note that after the 2009-2010 fiscal year, there will not be funds available in the Housing Loan Trust Fund to be used for the Town’s portion of the local match for this program. If the Town wishes to continue to participate in this program, an alternate source of funds for the Town’s portion of the match will need to be identified.
Adoption of the attached resolution would authorize submittal of the Annual Update to the 2005-2010 Housing and Community Development Consolidated Plan to the U.S. Department of Housing and Urban Development. The Annual Update is a requirement to receive federal Community Development Program and HOME Program funds.
Staff Recommendation: That the Council adopt the resolutions approving a 2009-2010 Community Development and HOME Program Plans, and authorize the plans to be incorporated into the Annual Update to the 2005-2010 Consolidated Plan. We also recommend that the Council authorize submittal of the Annual Update to the 2005-2010 Consolidated Plan to the US Department of Housing and Urban Development.
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