Title
RESOLUTION NO. 20R-01-07: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE INTERLOCAL AGREEMENT WITH BROWARD COUNTY FOR THE DISBURSEMENT OF HOME INVESTMENT PARTNERSHIP PROGRAM (HOME) FUNDS FOR FISCAL YEAR 2019-2020; PROVIDING FOR THE DISBURSEMENT OF FUNDING IN THE AMOUNT OF $105,683.00 FOR THE PURCHASE ASSISTANCE PROGRAM TO QUALIFIED PARTICIPANTS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, CHARLES FARANDA).
Body
Request Action:
A RESOLUTION IS REQUIRED FROM THE CITY COMMISSION TO APPROVE THE INTERLOCAL AGREEMENT BETWEEN BROWARD COUNTY AND THE CITY FOR FISCAL YEAR 2019-2020 HOME PURCHASE ASSISTANCE PROGRAM.
Need:
ACTION IS REQUIRED TO OBTAIN COMMISSION APPROVAL PRIOR TO ENTERING INTO AN INTERLOCAL AGREEMENT TO SATISFY BROWARD COUNTY REQUIREMENT FOR CONSORTIA MEMBERS RECEIVING HOME FUNDING.
Summary Explanation/ Background:
THE CITY OF LAUDERHILL’S FY 2019-2020 PURCHASE ASSISTANCE HOME AGREEMENT OUTLINES THE PROGRAM THAT WILL PURSUE TO BENEFIT VERY-LOW AND LOW INCOME RESIDENTS PURCHASING A HOME IN THE CITY. THE GOAL IS TO PROVIDE DOWN PAYMENT ASSISTANCE OF UP TO $50,000 FOR VERY-LOW AND UP TO $40,000 FOR LOW QUALIFIED HOMEBUYERS BASED ON THE AREA MEDIAN INCOME FOR FORT LAUDERDALE/BROWARD COUNTY BASED ON THE INCOME LIMITS ESTABLISHED BY HUD, ON AN ANNUAL BASIS. THE PROGRAM IS CRITICAL TO THE SUCCESS OF THE COMMUNITY AS IT PROVIDES A MECHANISM TO MAKING HOMEOWNERSHIP AFFORDABLE. STAFF WILL USE THE ATTACHED HOME HOUSING ASSISTANCE PLAN TO IMPLEMENT THIS AGREEMENT.
Attachments:
1. FY 2019-2020 HOME PURCHASE ASSISTANCE ILA
2. FY 2019-2020 HOME HOUSING ASSISTANCE PLAN
Cost Summary/ Fiscal Impact:
FUNDING IS PAID TO THE CITY ON REIMBURSABLE BASES AND ARE BUDGETED IN THE AMOUNT OF $105,683 IN FUND 629.
Estimated Time for Presentation:
NONE
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in lower 50% in Broward [ ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Areas
[ ] Increase commercial tax base [ ] Increase employment in Lauderhill businesses
[ ] Decrease noxious and blighted uses in commercial areas
Goal 5: Quality Housing at all Price Ranges and Attractive Communities
[ ] Neighborhood signs and active HOAs [ ] Housing & streets improved, litter reduced
[ X ] Increase proportion of single family homes and owner occupied housing
Goal 6: Efficient and Effective City Government, Customer Focused & Values Diversity
[ ] Improves City efficiency [ ] Increase use of Information Technology
[ X ] Increases residents perception of Lauderhill as an excellent place to live