Iowa Finance Authority -Washington Neighborhood/Housing Trust Fund Application Copyrighted
August 21, 2017
City of Dubuque Consent Items # 18.
ITEM TITLE: Iowa Finance Authority-Washington
Neighborhood/Housing Trust Fund Application
SUMMARY: City Manager recommending approval to commit funds
from the Greater Downtown Tax Increment Financing Urban
Renewal District as budgeted to be used as a match to the
Housing Trust Fund Committee's application to the Iowa
Finance Authority for a grant from the State Housing Trust
Fund.
RESOLUTION Approving commitment of matching funds
for an application to the Iowa Finance Authority (I FA)for
State Housing Trust Funds
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt
Resolution(s)
ATTACHMENTS:
Description Type
Washington Neighborhood/Housing Trust Fund City Manager Memo
Application-MVM Memo
Staff Memo Staff Memo
Resolution Resolutions
THE COF Dubuque
DtUB
E All-America
City
Masterpiece on the Mississippi 1 1 1 1"
2009•2012•2013•2019
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Washington Neighborhood/Housing Trust Fund Application
DATE: August 14, 2017
The City of Dubuque Housing Trust Fund Committee will be applying for a $161,456
grant from the Iowa Finance Authority to be used for continued support of
homeownership activities in the Washington Neighborhood. This grant requires a 25%
local match, or $40,364.
Housing and Community Development Department Director Alvin Nash recommends
City Council approval to commit $40,364 from the Greater Downtown Tax Increment
Financing Urban Renewal District as budgeted to be used as a match to the Housing
Trust Fund Committee's application to the Iowa Finance Authority for a grant from the
State Housing Trust Fund.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
ZIA-i k�4
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Crenna Brumwell, City Attorney
Teri Goodmann, Assistant City Manager
Alvin Nash, Housing & Community Development Department Director
THE CITY OF Dubuque
UBgkE 111-America III
I.
Masterpiece on the Mississippi 2007-2012-2013
TO: Michael Van Milligen, City Manager
FROM: Alvin Nash, Housing & Community Development Department Director
SUBJECT: Washington Neighborhood / Housing Trust Fund Application
DATE: August 11 , 2017
Dubuque is a certified "local housing trust fund" according to eligibility requirements of
the Iowa Finance Authority (IFA). Our Housing Trust Fund Committee has made
application in annual competition to IFA, for State Housing Trust Fund grants, the past
thirteen years. We have received more than $1.9 million in awards for the HEART
Program, the Step by Step Project and for support of home purchase and rehabilitation
activities in the Washington Neighborhood.
For this year's application, we are applying for $161 ,456 for continued support of
homeownership activities in the Washington Neighborhood. This requires a 25% local
match, or $40,364. The local match cannot be from any other state/federal program, In
fact, according to the application 10% of the 25% local match must be provided by the
local government. In the past these funds were made available in the CIP budget,
under the Homeownership Grants Activity No. 1011595 (General Fund), the North
Cascade TIF FY 2016 Receipts, Activity No. 3601595-62761 and last year we had
enough Program Income in Homeownership Grants Activity No. 1011595 from
repayment of loans. However, this year it is our intention and budgeted to use funds
from the GDTIF FY18 Receipts, Activity No. 3601595-59240 for the required match.
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.
These funds must be committed and approved by the City Council at the
August 21, 2017 Council meeting. Once the local match is approved by City Council,
the application can be completed with Council Resolution, reviewed and approved by
the Trust Fund Committee at a public hearing and forwarded to the Iowa Finance
Authority (IFA). The application is due to IFA no later than October 1 , 2017.
Action Step
The action requested of the City Council is to approve the attached resolution
authorizing commitment of $40,364 from the GDTIF TIF FY18 Receipts, Activity No.
3601595-59240 as a match to the Housing Trust Fund Committee's application to the
Iowa Finance Authority for a $161 ,456 grant from the State Housing Trust Fund.
RESOLUTION NO. 295-17
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 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
for a Housing Trust Fund award, in the amount of $161,456; and
WHEREAS, the GDTIF FY18 Receipts Activity No. 3601595 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:
Section 1. That the City of Dubuque hereby approves commitment of $40,364 in the
current year GDTIF FY18 Receipts as a match to the application for IFA State Housing
Trust Funds.
Section 2. That the Housing Trust Fund Committee, in accordance with Sec. 2-5D-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 Neighborhoods.
Passed, approved and adopted this 21st day of August, 2017.
Attest:
KevinFirnstah�; qty rk
1
Roy D Buol, Mayor