Washington Neighborhood/Housing Trust Fund ApplicationTHE CITY OF
DUB E
Masterpiece an the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Washington Neighborhood/Housing Trust Fund Application
DATE: October 1, 2008
Dubuque
An-An~IcaCnll
2007
Housing and Community Development Department Director David Harris recommends
City Council approval of an application to the Iowa Finance Authority fora $250,000
grant from the State Housing Trust Fund for homeownership activities in the
Washington Neighborhood, and authorizing the $65,000 City match to be committed
from available CDBG funds.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
v
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
David Harris, Housing and Community Development Department Director
THE CITY OF Dubuque
D--~
UB E a~~
1
Master~aiece on the Mississippi
2007
TO: Michael Van Mild n, City Manager
FROM: David Har1~s, Housing and Communit Develo ment D
y p epartment
SUBJECT: Washington Neighborhood/Housing Trust Fund application
DATE: 1 October 08
Dubuque has a certified "local housing trust fund" according to eligibility requirements of
the Iowa Finance Authority. Our Housing Trust Fund Committee has made applications
in annual competition to IFA, for State Housing Trust Fund grants, the past four years.
We have received about $514 000 in awards for the HEART Program, the Step by Step
project and for support of home purchase and rehab activities in the Washington
Neighborhood.
For this year's application, we are applying for $250 000 for continued support of
homeownership activities in the Washington Neighborhood. This requires a 25%
match, or $62 500. We have proposed a match of $65 000 in the application that has
been submitted to the Iowa Finance Authority. That balance is currently available in the
CDBG Annual Plan, under the Trust Fund activity.
Commitment of these matching funds, to the Housing Trust Fund Committee, in support
of the application for State Housing Trust Funds, will satisfy the IFA requirement and
insure that our application is competitive.
Action Step
The action requested of the City Council is to approve the attached resolution,
authorizing commitment of $65 000 in available CDBG funds as a match to the Housing
Trust Fund Committee's application to the Iowa Finance Authority fora $250 000 grant
from the State Housing Trust Fund.
RESOLUTION NO 340-08
A RESOLUTION APPROVING COMMITMENT OF MATCHING FUNDS FOR AN
APPLICATION TO THE IOWA FINANCE AUTHORITY (IFA) FOR STATE
HOUSING TRUST FUNDS
WHEREAS, the Iowa Finance Authority has recognized Dubuque's Housing
Trust Fund Committee as a certified Local Housing Trust Fund; and
WHEREAS, IFA has made funding available in state-wide competition to local
trust funds for State Housing Trust Fund grants, in amounts up to $250 000; and
WHEREAS, a 25% local match is required for receipt of a funding award; and
WHEREAS, the Housing Trust Fund Committee has authorized an application to
IFA for a Housing Trust Fund award, in the amount of $250 000; and
WHEREAS, Community Development Block Grant funds are available in the
current year Housing Department budget in sufficient amount to meet the matching
funds requirement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves commitment of $65 000 in
current year Community Development Block Grant funds as a match to the application
for IFA State Housing Trust Funds.
Section 2. That the Housing Trust Fund Committee, in accordance with Sec. 26-
37 of the Code of Ordinances, shall have final authority to direct how such funds shall
be used in support of revitalization activities in the Washington Neighborhood.
PASSED, APPROVED AND ADOPTED this 6th day of October, 2008.
Roy D. Buol, Mayor
Attest:
Jeanne F. Schneider, CMC, City Clerk