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HomeMy WebLinkAbout12462RESOLUTION NO. 12462 A RESOLUTION APPROVING AN AGREEMENT BETWEEN HABITAT FOR HUMANITY OF PUEBLO, INC., A COLORADO NON-PROFIT CORPORATION AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO that: SECTION 1. The Agreement dated August 13, 2012 between Habitat for Humanity of Pueblo, Inc., a Colorado Non-Profit Corporation and the City of Pueblo, a Municipal Corporation, (“the Agreement”), for operating expenses incurred in the development of affordable housing funded with HOME Investment Partnership Act funds, a copy of which is attached and incorporated herein, having been approved as to form by the City Attorney, is hereby approved. SECTION 2. The President of the City Council is hereby authorized to execute Agreement in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. INTRODUCED: August 13, 2012 BY: Sandy Daff COUNCIL PERSON -2- Background Paper for Proposed RESOLUTION # M-6 August 13, 2012AGENDA ITEM DATE: DEPARTMENT: HOUSING AND CITIZEN SERVICES ADA RIVERA CLARK, DIRECTOR TITLE A RESOLUTION APPROVING AN AGREEMENT BETWEEN HABITAT FOR HUMANITY OF PUEBLO, INC., A COLORADO NON-PROFIT CORPORATION AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME ISSUE Should the City Council approve an Agreement between the City of Pueblo and Habitat for Humanity of Pueblo, Inc., (HFH) that provides operating funds in support of the development of their affordable housing and mortgage loan program within the city for low and moderate income families? RECOMMENDATION Approval of the Resolution BACKGROUND The City of Pueblo receives a yearly allocation of HOME funds. As part of the allocation there is a mandatory set-aside for Community Housing Development Organizations (CHDO). Fifteen- percent (15%) must be set-aside for these agencies. Habitat for Humanity qualifies as an eligible CHDO under the federal guidelines and was awarded HOME funding in 2011 for the development of four (4) single-family homes. HOME grantees can fund CHDO operating expenses for those eligible CHDOs that are undertaking eligible activities (own, sponsor or develop affordable housing). The City currently has funding available for this purpose. The City wishes to enter into an Agreement with Habitat in support of the units that were funded through a 2011 grant and are under construction. Under this Agreement the City provides $35,000 in HOME funds for operating costs. FINANCIAL IMPACT Funding is available in the 251 Fund and has been appropriated for these purposes through prior Ordinances. -1-