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File #:
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20-202HA
Version:
1
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Name:
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HOME NOFA Study Session
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Type:
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HA- Study Session
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Status:
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Agenda Ready
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On agenda:
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2/24/2020
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Final action:
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Title:
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CONTINUOUS NOTICE OF FUNDING AVAILABILITY FOR AFFORDABLE HOUSING ASSISTED WITH HOME INVESTMENT PARTNERSHIP ACT (HOME) FUNDING
The Housing Authority has been issuing annual Notices of Funding Availability (NOFAs) for its federal HOME Investment Partnership Act (HOME) funds. As a result of the requirements placed on the HOME funds which include that the funding be the last dollars into the project and that it begin construction with twelve (12) months of funding commitment, staff would like to open a Continuous NOFA for HOME funds to improve the ability of developers to access the funds and for staff to support the use of the funds in compliance with federal regulations. If supported, staff will release a NOFA for approximately $550,000 in HOME funds in March 2020.
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