Vote: adopted

Item Text

37. CONTRACT WITH NEWTOWN COMMUNITY DEVELOPMENT CORPORATION, CITY OF SCOTTSDALE AND MARICOPA COUNTY FOR HOMEOWNERSHIP ACTIVITIES Approve a Community Housing Development Organization (CHDO) Contract between Newtown Community Development Corporation, City of Scottsdale, and Maricopa County through the Human Services Department, Community Development division in the not-to-exceed amount of $445,850.00. This contract is funded by a grant from the U.S. Department of Housing and Urban Development (HUD). The purpose of this Contract is to provide funds to Newtown for the purpose of acquiring, rehabilitating, and reselling single family homes in the City of Scottsdale to income eligible first-time homebuyers. The Contract is effective September 30, 2011 and will be in effect until all funds are expended and drawn against the Letter of Credit or until the Scope of Work is complete and remaining funds are returned. The term will not extend beyond June 30, 2013. The housing activities shall meet all program requirements for the required period of affordability. Grant revenues are not local revenues for the purpose of the constitutional expenditure limitation, and therefore, expenditure of the revenues is not prohibited by the budget law. This Contract does not alter the budget constraining expenditures of local revenues duly adopted by the Board pursuant A.R.S. 42-17105. There will be no General Fund impact. Approximately 10 single family homes will be acquired, rehabilitated and resold to qualified first time homebuyers through the Community Land Trust Homeownership, estimated funding for this project totals to $445,850 in CHDO HOME Funds FY 2011/2012. Original funding for this contract is unspent funds from the City of Peoria’s FY 2008/2009 CHDO set-aside awarded to Housing our Communities and authorized by the Board of Supervisors on May 7, 2008 (C-17-09-021-2-00), and amended on January 7, 2010 (C-07-09-021-2-01) and December 15, 2010 (C-17-09-021-2-02). The Maricopa County HOME Consortium reallocated the funding at the public meeting held August 11, 2011 to Newtown Community Development Corporation. Maricopa County is the lead agency for the Maricopa HOME Consortium. The Consortium is required to allocate 15% of the HOME Investment Partnerships Program allocation for CHDO Set-Aside projects. (C-22-12-025-2-00)