Adopted Budget 2015-2016

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HOME INVESTMENT FUND

PROGRAMS

2013-14

2014-15 Budget

2015-16 Adopted

2016-17 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

88,659

80,499

71,053

71,053

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Housing Activities Affordable Housing: The budget allocates $607,915 in funding to support non-profit housing development and Community Development Housing Organization operations.

Housing Rehabilitation: The budget allocates $100,000 to support city-wide homeowner housing rehabilitation.

Homebuyer Assistance: The budget allocates $100,000 to support homebuyer downpayment assistance.

Appropriation

820,930

900,250

807,916

807,916

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Departmental Goals & Objectives

 Partner with public and private entities to finance and implement affordable housing programs.  Provide leadership in promoting sustainable development practices through neighborhood and area planning activities that result in clear visions and strategies for the future.  Increase number of housing units rehabilitated or repaired that are affordable to owners or renters with low to moderate income.

PERFORMANCE MEASURES

2013-14

2014-15

2015-16

2016-17

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 - includes rehab- resale and homeowner rehabilitation  Number of new single family units 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

0

54

76

50

7

10

3

5

10

6

5

3

20

30

15

10

2013-14

2014-15 Budget

2015-16 Adopted

2016-17 Projected

Actual

Expenditures:

Administration

88,659 820,930

80,499 900,250

71,053 807,916

71,053 807,916

Housing Activities

Total

909,589

980,749

878,969

878,969

Revenues:

Intergovernmental Program Income

835,363 73,226

860,749 120,000

758,969 120,000

758,969 120,000

Total

908,589

980,749

878,969

878,969

BUDGET HIGHLIGHTS  This summary page is for information only and is not included as part of the total budget.  The FY 13-14 actual figures are based on HOME expenditures through June 30, 2014.

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Adopted FY 2015-16 Budget

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