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AUG 13 `9T BOCK 8 PAA` E 0 6 C. HUD -Administered Rental Rehabilitation Program for Small Cities The Board reviewed memo from IRC Housing Authority Executive Director Guy Decker dated August 5, 1991: TO: The Honorable Members of the DATE: August 5, 1.991 FILE: Board of County Commissioners - THROUGH: H. T. "Sonny" Dean, Director Department of General Service UBJECT. HUD - Administered Rental Rehabilitation Program for Small Cities (Non Formula) FROM: Guy L. Decker, Jr. REFERENCES: •,=`�:r�;' 't x; Executive Director _ ''"x' `"•�t'''�''=' • I.R.C. Housing Authority `j:• ` ted t ¢ •. •f - '':t:It is recommended that the data herein presented be given formal consideration by the•County Commission. (-DESCRIPTION AND CONDITIONS:" 't-The Department of"Housing and Urban Development (HUD) has announced a competition and availability of funds for a HUD Administered Rental Rehabilitation Program for Small ,Cities, pursuant to Section 17 of the United States Housing Act of 1937 (42 USC 14370) which was enacted by Section 301 of the Housing and Urban -Rural Recovery Act of 1938 -(Public Law 98-81), approved November 30, 1983. A total of $572,000 in Rental Rehabili- tation Program grant funds and Section 8 Housing Vouchers are available for the Rental CRebabilitation Program for Small Cities in the State of Florida. In HUD's Circular Letter `'No. 91-42 dated July 25, 1991, Indian River County was included in the list of eligible 'cities "and counties.: The deadline for submission is 4:00 P.M. August 26, 1991, and must Abe received on that date in the DHUD Jacksonville office to be considered in this year's competition. program is designed to • assure an adequate supply of standard housing affordable fto•lower-income tenants as it increases the supply of private market rental housing °�-�•:- ikavailable to lower-income tenants by providing govercmnent funds to rehabilitate existing ;units.and provide rental assistance to lower-income persons to help them afford the rent' 'of these units. One Section 8 Certificate and/or Voucher can be provided for each $7,500 rof grant funds to help eligible lower -income -tenants to pay the rent for rehabilitated r; u;units. In order to leverage the maximtaiamount of private capital, rehabilitation sub- ; �,sidies are generally limited to 50 per cent of the cost of rehabilitation, not to exceed •.,$7,500 per unit adjusted for high cost areas.- Grant funds may only be used to correct substandard conditions, make essential improvements, and repair major systems in danger Of failure. Units will be rented at market rents, and no special project rent controls or restrictions will be used. Within the lower-income and neighborhood targeting re- quirements, the Rental Rehabilitation Program leaves broad opportunities for -local program design and flexibility. - ALTERNATIVES AND ANALYSIS: This is the sixth year Indian River County has been placed on the eligibility list to enter the competition for funding, and this type of -program parallels our existing rehabilitation housing efforts. RECONIl"lFIMTIONS : . We respectfully request the County Commission to authorize its Chairman to execute the application for submission to the Department of Housing and Urban Development for this grant. This program will rehabilitate approximately six (6) -substandard rental units in the distressed neighborhoods within this jurisdiction and will make available additional standard units to be utilized by the Indian River County Section 8 Rental Assistance Program. Our total request for Federal assistance is Fifty-two Thousand Dollars ($52,000.00). This program requires no additional County funds. 4