6/4/2002 - Laserfiche WebLink

Home Browse Search

TO: James E. Chandler County Administrator N HEAD CONCURRENCE Robert M. Keating, AICP Community Development 1irector FROM: Sasan Rohan, AICP Chief, Long -Range Planning DATE: May 23, 2002 SUBJECT: CONSIDERATION OF STA 1"h HOUSING INITIATIVES PARTNERSHIP (SHIP) FUNDS SETASIDE FOR HABITAT FOR HUMANITY CLIENTS FOR FY 2002- 2003 It is requested that the data herein presented be given formal consideration by the Board of County Conurussioners at its regular meeting of June 4, 2002 BACKGROUND The county's Local Housing Assistance Program has been in effect since June of 1993. During that time, the county has provided 530 loans to individual applicants who applied for assistance. According to state rules and regulations as well as the county's requirements, SHIP funds may also be used to supplement or match other state and federal funds. In the past, the Board of County Commissioners has set aside SHIP funds for certain projects or non- profit groups, with the requirement that these set aside funds be used consistent with SHIP program rules and regulations. Since inception of the SHIP program, the county has worked closely with Habitat for Humanity (HFH) and has provided SHIP funds to a number of HFH clients. In 2001, the Board set aside $300 000 of SHIP funds for Habitat For Humanity's (HFH's) clients for FY 2001-02. Those SHIP funds are provided to HFH's clients as downpayment/closing cost, land acquisition and impact fee assistance loans. With the SHIP money and other financial resources, HFH constructs owner occupied, single-family houses for its low or very low income clients.. As indicated in the attached letter dated April 18, 2002, Habitat For Humanity (HFH) has informed the county that HFH will increase its production next year In FY 2002-2003, HFH is planning to build 20 units. HFH has requested that the county set aside approximately $398 380 of FY 2002- 2003 SHIP funds for HFH's clients. ANALYSIS One of the goals of the county's local housing assistance plan is to increase home ownership for very low and low income households. In many cases, an eligible household can afford a mortgage payment, but cannot save a sufficient amount of money for down payment and closing costs With SHIP program funds, eligible households have the opportunity to acquire a housing unit which is affordable. June 4, 2002 46