2021 Application to Iowa Finance Authority for Housing Trust Fund Copyrighted
August 17, 2020
City of Dubuque Consent Items # 10.
City Council Meeting
ITEM TITLE: 2021 Application to lowa Finance Authorityfor Housing Trust Fund
SUM MARY: City Manager recommending approval of a resolution authorizing the
commitment of funding from Greater powntown TI F as a match to the
Housing Trust Fund Committee's application to the lowa Finance
Authority for a grant from the State Housing Trust Fund to be used to
support homeownership and rehabilitation activities in the Washington
Neighborhood.
RESOLUTION Approving commitment of matching funds for an
application to the lowa Finance Authority (I FA)for State Housing Funds
SUGGESTED Suggested Disposition: Receive and File;Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
Washington Neighborhood Housing Trust Fund City Manager Memo
Application-MVM Memo
Staff Memo Staff Memo
Resolution Resolutions
Dubuque
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Washington Neighborhood / Housing Trust Fund Application
DATE: August 11, 2020
Housing and Community Development Director Alexis Steger recommends City Council
approval of a resolution authorizing the commitment of$35,321 from Greater powntown
TIF as a match to the Housing Trust Fund Committee's application to the lowa Finance
Authority for a $141,283 grant from the State Housing Trust Fund. These grant funds
will be used to support homeownership and rehabilitation activities in the Washington
Neighborhood.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
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Mic ael C. Van Milligen
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Attachment
cc: Crenna Brumwell, City Attorney
Teri Goodmann, Assistant City Manager
Cori Burbach, Assistant City Manager
Alexis M. Steger, Housing and Community Development Director
Dubuque
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TO: Michael C. Van Milligen, City Manager
FROM: Alexis M. Steger, Housing and Community Development Director
SUBJECT: Washington Neighborhood / Housing Trust Fund Application
DATE: August 11, 2020
Introduction
Dubuque is a certified "local housing trust fund" according to eligibility requirements of
the lowa Finance Authority (IFA). The City of Dubuque Housing Trust Fund Committee
has submitted an application in annual competition to IFA, for State Housing Trust Fund
grants, the past fourteen years. The City of Dubuque has received more than $2.3
million in awards for the HEART Program, the Step by Step Project and for support of
homeownership and rehabilitation activities in the Washington Neighborhood.
Backqround
For this year's application, the City of Dubuque is eligible to apply for $141,283 for
continued support of homeownership and rehabilitation activities in the Washington
Neighborhood. This requires a 25% local match, or $35,321.
Commitment of these matching funds, to the Housing Trust Fund Committee, in support
of the application for the State Housing Trust Fund, will satisfy the IFA requirement and
ensure that our application is competitive.
A match has been budgeted in Greater powntown TIF (GDTIF) up through FY 2024.
Discussion
The matching funds must be committed by the City Council at the August 17, 2020 City
Council meeting. Once the local match is approved by City Council, the application can
be completed with a City Council Resolution, reviewed and approved by the Trust Fund
Committee at a public hearing and forwarded to the lowa Finance Authority (IFA). The
application is due to IFA no later than October 1, 2020.
Recommendation
I respectfully request City Council approval of the attached resolution authorizing the
commitment of$35,321 from GDTIF, Activity No. 2681021 as a match to the Housing
Trust Fund Committee's application to the lowa Finance Authority for a $141,283 grant
from the State Housing Trust Fund.
Prepared by Alexis Steqer.Housing &Community DeveL 350 W.6th St.,Suite 312,Telephone:563-690-6072Returnto:Kevin Firnstahl,City Clerk Address:City Hall-50 W.13th St Telephone:(563)589-4100
RESOLUTION NO.257-20
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 (IFA)has recognized Dubuque’s Housing
Trust Fund Committee as a certified Local Housing Trust Fund;and
WHEREAS,IFA has made funding available in statewide competition to local trust
funds for State Housing Trust Fund grants,in amounts based on population size;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
fora Housing Trust Fund award,in the amount of $141,283;and
WHEREAS,the Greater Downtown Tax Increment Financing funds are available in the
current year Housing Department’s 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 THAT:
Section 1.The City of Dubuque hereby approves commitment of $35,321,in the
current year Greater Downtown TIF as a match to the application for IFA State Housing
Trust Funds.
Section 2.The Housing Trust Fund Committee,in accordance with Sec .2-5 D-7 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 17th day of August 2020.
7 Roy D.Buol,Mayor
Attest: