FY 2017-18 FINAL ADOPTED BUDGET

HOME INVESTMENT FUND

PROGRAMS

2015-16

2016-17 Budget

2017-18 Adopted

2018-19 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

95,329

89,272

84,371

89,272

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Housing Activities Affordable Housing: The budget allocates $624,496 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

1,303,516

923,449

859,344

923,449

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

2015-16

2016-17

2017-18

2018-19

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

36

25

40

40

4

2

0

0

9

20

0

0

2015-16

2016-17 Budget

2017-18 Adopted

2018-19 Projected

Actual

Expenditures:

Administration

95,329

89,272 923,449

84,371 859,344

89,272 923,449

Housing Activities

1,303,516

Total

1,398,845

1,012,721

943,715

1,012,721

Revenues:

Intergovernmental Program Income

1,311,189

892,721 120,000

843,715 100,000

892,721 120,000

87,656

Total

1,398,845

1,012,721

943,715

1,012,721

BUDGET HIGHLIGHTS  This summary page is for information only and is not included as part of the total budget.  The totals listed are estimates only and they will be updated as soon as authorization is given by the Federal Government for those funds.

Adopted FY 2017-18 Budget

36