07 - Submission of an Application to become a Reservation System Participant for Home Funds to the Texas Department of Housing & Community Affairs (2)

Home Browse Search

Item No. 7 TO: Mayor, Mayor Pro Tem & City Council FROM: Grayson Path, City Manager SUBJECT: HOME Program DATE: February 14, 2022 BACKGROUND: The City of Paris has been contracted with the Texas Department of Housing and Community Affairs (TDHCA) for the last three years for HOME Funds to support the demolition and reconstruction of eligible housing in the City of Paris. This has and continues to be a successful program. CoVid-19 did greatly slow down the process, but it is starting to pick back up in speed. We are currently in construction phases for seven homes with another six working through the State. We however have many more applicants that will not make it through the process before our current contract runs up with TDHCA. STATUS OF ISSUE: The next round of applications for the HOME Program is due. In order to apply, the City Council must approve a Resolution and the City Staff will prepare and submit an application by the first of March. If approved by the TDHCA, we will enter another multi-year contract for additional funding for the HOME Program. This continues to be an excellent program for our community to take old and dilapidated housing and replace it with brand new construction. In addition, to be eligible for the program, families must be below certain income thresholds, so this program is an incredible help to low-income families in our community. BUDGET: The minimum amount the City must contribute is $40,000.00. The City typically budgets $80,000.00. It is normally an 85/15 match program, thus the City's investment goes an incredible distance towards replacing housing stock in our community.