IFA Housing Trust Fund Application for Washington NeighborhoodMasterpiece on 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: September 6, 2013
Dubuque
band
AI- America City
1
2007 • 2012 • 2013
Housing & Community Development Department Director Alvin Nash recommends City
Council approval to submit a $190,865 Iowa Finance Authority Housing Trust Fund
application for continued support of homeownership activities in the Washington
Neighborhood and authorizing commitment of the $48,000 match from available
General Funds.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Alvin Nash, Housing & Community Development Director
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Alvin Nash, Housing & Community Development Director
SUBJECT: Washington Neighborhood / Housing Trust Fund Application
DATE: September 6, 2013
Dubuque
bitell
All- America City
1 I
2007 • 2012 • 2013
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, in the
past nine years. We have received more than $1.3 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 $190,865 for continued support of
homeownership activities in the Washington Neighborhood. This requires a 25%
match, or $48,000. These funds are currently available in the CIP budget, under the
Homeownership Grants Activity, No. 101 -1595.
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.
Action Step
The action requested of the City Council is to approve the attached resolution
authorizing commitment of $48,000 in available General funds as a match to the
Housing Trust Fund Committee's application to the Iowa Finance Authority for a
$190,865 grant from the State Housing Trust Fund.
KLN
RESOLUTION NO. 286-13
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 $190,865; and
WHEREAS, General Funds committed to the Washington Neighborhood
revitalization initiative are available in the current year Housing Department's budget in
sufficient amount to meet the matching funds requirement; and
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 $48,000 in
current year General 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. 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 16th day of September, 2013.
Attest:
y D. Buol, Mayor