Tompkins County
New York

Resolution
2017-79

Authorization to Disburse County Funds to OAR's (Opportunities, Alternatives, and Resources) Endeavor House

Information

Department:Planning and Sustainability DepartmentSponsors:
Category:HousingFunctions:Housing

Attachments

  1. Printout
  2. PDEQ_Cover_Memo_HsgFundRound14_4-21-17 (This file has not yet been converted to a viewable format)

Resolution/Document Body

WHEREAS, the Tompkins County Legislature through Resolution No. 2015-154 authorized funding for the Community Housing Development Fund, and

 

WHEREAS, the Community Housing Development Fund (CHDF) assists with the development costs associated with residential and mixed-use real estate development projects primarily benefiting low- and moderate-income households, and requires that newly constructed or rehabilitated homes supported by the program are not only made available to low- to moderate-income households, but also remain affordable to future generations of renters and buyers, and

 

WHEREAS, the Notice of Funding Availability was made available to interested parties with a deadline of March 20, 2017, for Round 14, and

 

WHEREAS, one application was received and reviewed by the CHDF Application Review Committee, which made formal funding recommendations for funding to the CHDF Program Oversight Committee, and

 

WHEREAS, the Program Oversight Committee accepted and recommended that the following proposal receive funding as indicated in the table:

 

Applicant

Project

Location

Number of Affordable Units

Dollar Amount Recommended

Sponsor

OAR

Endeavor House

City of Ithaca

2 (the 4 SRO beds are counted as 2 rental units by the program)

$60,000

Tompkins County

 

WHEREAS, Tompkins County, with the approval of the U.S. Department of Housing and Urban Development (HUD), uses Program Income Funds for its contributions to the Community Housing Development Fund, and

 

WHEREAS, the disbursement of any County funds shall not take place until a subcommittee of Program Oversight Committee members representing Tompkins County, the City of Ithaca, and Cornell University meet to review and approve:

(1)              a revised full construction budget based on itemized cost estimates from licensed contractors detailing all aspects of the project;

(2)              updated source of funds documentation demonstrating funds adequate for all project costs; and

              (3) a revised operating budget that accurately reflects cash flow,

now therefore be it

 

RESOLVED, on recommendation of the Planning, Development, and Environmental Quality Committee, That Tompkins County authorizes the expenditure of $60,000 of its Program Income funds to support OAR’s Endeavor House project as recommended by the CHDF Program Oversight Committee,

 

RESOLVED, further, That the Director of Finance be and hereby is authorized to make the following budget adjustment:

Revenue:               CD8695.42411                             Program Income               $60,000

Appropriation:              CD8695.54400                             Program Expense               $60,000

 

RESOLVED, further, That the County Administrator or his designee be and hereby is authorized to execute agreements in order to implement this grant program, consistent with this resolution.

SEQR ACTION: TYPE II-2