CITY COUNCIL AGENDA ITEM
Memo Date: February 21, 2024
Agenda Date: February 27, 2024
Prepared By: Charlene Neuterman, Community Services Director
Through: Stockton Whitten, City Manager
Requested Action:
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Approve the FY 2023-2024 HOME Disbursement Agreement between the City of Cocoa and Brevard County in the amount of $310,488.38.
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BACKGROUND:
The City of Cocoa, in partnership with Brevard County and the cities of Melbourne, Palm Bay, and Titusville receives HOME Investment Partnership (HOME) funds through a consortium, called the Brevard County HOME Consortium. The allocation amount is determined by the U.S. Department of Housing and Urban Development (HUD) based on the following factors where the first and sixth factors are weighted 0.1; the other four factors are weighted 0.2:
1) Vacancy-adjusted rental units where the household head is at or below the poverty level.
2) Occupied rental units with at least one of four problems: a) overcrowding; b) incomplete kitchen facilities; c) incomplete plumbing; and d) high rent cost.
3) Rental units built before 1950 occupied by poor households.
4) Rental units described in factor 2 multiplied by the ratio of the cost producing housing for a jurisdiction divided by the national cost.
5) Number of families at or below poverty level.
6) Population of a jurisdiction multiplied by a net per capita income (pci).
Brevard County is responsible for the administration and compliance of regulations which govern these funds, as lead entity for the HOME Consortium. The Brevard County HOME Consortium shall receive $1,297,107. A HOME Investment Partnership Program Disbursement Agreement between Brevard County and each of the four (4) cities is executed to ensure funds are administered in accordance with HOME regulations and allows Brevard County to reimburse the City for any funds expended during the fiscal year. The City’s allocation is approximately 6.70% percent of the total HOME allocation the County receives.
Staff recommends Council approve the FY 2023-2024 Brevard County HOME Investment Partnership Program Disbursement Agreement between Brevard County and the City of Cocoa in the amount of $310,488.38 as follows:
FY 2023-2024 Allocation $74,089.67
Carry Forward Balance $236,398.71
*Program Income ______$ 0
Total Contract Amount $310,488.38
Staff will return to a later meeting to bring a Budget Amendment to true up the HOME Budget Account numbers for FY2024.
STRATEGIC PLAN CONNECTION:
Community Development - Improve residential development and rehabilitation programs to ensure diversity of housing options.
BUDGETARY IMPACT:
Budgeted N/A
PREVIOUS ACTION:
February 2023 - Council approved the FY2022-2023
RECOMMENDED MOTION:
Recommendation
Approve the FY 2023-2024 HOME Disbursement Agreement between the City of Cocoa and Brevard County in the amount of $310,488.38.