2018-2019 Adopted Budget

HOME INVESTMENT FUND

PROGRAMS

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Actual

Administration Program Administration provides administrative direction and support services primarily for affordable housing development and maintenance. The HOME Investment Fund (HIF) derives its revenue from a Federal grant program, the amount of which is based on a formula (entitlement) explicit in the underlying Federal law and regulations. Additional revenues of the HIF are also derived from those programs within the fund that are income-generating. The HIF is one of five operating funds utilized by the Neighborhood Development Department (NDD).

This Federal grant program provides funds for housing and closely associated housing purposes for low and very low income-eligible citizens.

Appropriation

111,452

84,371

121,035

121,035

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Housing Activities The budget allocates funding to support non-profit housing development and Community Development Housing Organization operations.

Appropriation

1,503,612

859,344

1,189,322

1,189,322

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Departmental Goals & Objectives

 Increase number of housing units rehabilitated or repaired that are affordable to owners or renters with low to moderate income.

 Partner with public and private entities to finance and implement affordable housing programs.

PERFORMANCE MEASURES

2016-17

2017-18

2018-19

2019-20

Actual

Budget

Adopted

Projected

Workload Measures  Number of rental housing units developed that are affordable to households at or below 80% of area median income - includes new construction and rehabilitation  Number of single family units rehabilitated that are affordable to households at or below 80% of area median income  Number of first time homebuyer households at or below 80% of area median income assisted with downpayment assistance

N/A

25

40

40

N/A

2

0

0

N/A

20

0

0

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Actual

Expenditures:

Administration

111,452

84,371 859,344

121,035

121,035

Housing Activities

1,503,612

1,189,322

1,189,322

Total

1,615,064

943,715

1,310,357

1,310,357

Revenues:

Intergovernmental Program Income

1,366,107

843,715 100,000

1,210,357

1,210,357

248,957

100,000

100,000

Total

1,615,064

943,715

1,310,357

1,310,357

BUDGET HIGHLIGHTS  This summary page is for information only and is not included as part of the total budget.

Adopted FY 2018-19 Budget

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