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1 Attachments: Funding Recommendation PowerPoint Presentation Budget Amendment Budget Transfer Recommended By: Approved By:.::::J. ~:.:::::::.u-~:p::::;:,.:::a::::.:jl--!l..!!;,,,_;,:::::::lh e:.1.w-#~~...!::- {~.'-:::.. ~14:i~~""""~-"-g.Jkl,;:.,~~, VJ'"""""_ ~4 1;:;.,1.;.;:.,,h=--,/l~---J...!./r_.,!.~2_ ---'-/..J.t.[/J~---"L:...:;.Jl/, - Depart~t}frector C.--- ' Date. 1 :!:..!A:...::Z::l!:lo.::::~~t'~:....::...:.../Lf!:::.~'..L:1.:, Agenda Item#: 31-1 PALM BEACH COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY REVISED Meeting Date: Department: October 21, 214 [X] Consent [ ] Ordinance [ ] Regular. [ ] Public Hearing I. EXECUTIVE BRIEF Motion and Title: Staff recommends motion to approve: A) the Fiscal Year State Housing Initiatives Partnership budget allocations for affordable housing strategies as follows: - Second Mortgages for first time homebuyer acquisitions $1,28, - Veterans Homeownership and Preservation for eligible veterans $1,, - HOME Match (required) $ 375, - Utility Connection for water and sewer services $ 1, - Roof Replacement/Repair $ 89,751 - Foreclosure Prevention $ 15, - Rental Housing Re-entry $ 5, 8) a Budget Amendment of $4,683,57 to the "Affordable Housing Trust Fund (SHIP)" Budget to recognize State Housing Initiatives Program (SHIP) grant award; and C) a Budget Transfer reallocating $2, in charge offs and operating expense in the Economic Development budget for Fiscal Year Summary: Palm Beach County received an allocation of $4,683,57 from the Florida Housing Finance Corporation (FHFC) for SHIP Fiscal Year of which 4,214,751 will be used to implement various affordable housing programs and other related activities. The remaining ten percent (1%) of the funds totaling $468,36 will be utilized to administer the programs. A comprehensive outreach to multiple housing service providers and stakeholders was conducted and the funding recommendations are a result of their input. Priority preference is given to special needs households which include persons with disabilities, elderly and veterans. Approximately 145 households will.be assisted through the recommended strategies. The County utilizes SHIP funds to fulfill the 25% match requirement for HOME funds. SHIP regulations require that at least 65% of a local jurisdiction's SHIP funding allocation be designated for homeownership activities and that 2% of the funding allocation be expended on special needs applicants. These are State SHIP funds which require no local match. Countywide (TKF) Background and Justification: On May 18, 1993, the Board of County Commissioners (BCC) adopted its Affordable Housing Ordinance (No as amended) pursuant to the SHIP regulations outlined by the FHFC. The current Local Housing Assistance Plan (LHAP) was approved by the BCC on April 16, 213 (R ) and included SHIP funded housing strategies for Fiscal Years , and Historically, the Commission on Affordable Housing (CAH) which was established by the BCC in 199 administered the Robert E. Pinchuck Memorial Housing Trust Fund; however, the CAH Advisory Board has been inactive and presently does not have any active board members primarily due to certain conflicts enacted in the ethics ordinance.

2 II. FISCAL IMPACT ANALYSIS A. Five Year Summary of Fiscal Impact: Fiscal Years # ADDITIONAL FTE POSITIONS (Cumulative) Capital Expenditures Operating Costs $4,683,57 External Revenues ($4,683,57) Program Income In-Kind Match (County) NET FISCAL IMPACT Is Item Included In Current Budget? Yes Budget Account No.: No X Fund 11 Dept 143 Unit 7175/7176 Object various Program Code/Period various B. Recommended Sources of Funds/Summary of Fiscal Impact: Approval of this agenda item will appropriate $4,683,57 in 214/215 State SHIP funds to the Commission on Affordable Housing budget. C. Departmental Fiscal Review: Ill. REVIEW COMMENTS A. OFMB Fiscal and/or Contract Development and Control Comments: B. Legal Sufficiency: C. Other Department Review: Department Director (THIS SUMMARY IS NOT TO BE USED AS A BASIS FOR PAYMENT)

3 Palm Beach County d o - a r t m a n, t o t i ~ g :::c ~ m z -I... SHIP Funding Recommendations Our Mission is to advance community sustainability by increasing economic competitiveness and improving the elements that create a high quality of life for Palm Beach County's residents.

4 2 SHIP Funding Recommendations Purchase Assistance {second mortgages) ; Funding will assist income eligible firsttime homebuyers with gap financing for purchase of a home with or without ' rehabilitation or new construction. Serves households up to 12% $1,28,. Veteran's Pilot Program Acquisition w/without rehabilitation. Rehabilitation w/without barrier free, Foreclosure Prevention. Leverage with FHLBA ($5k) and FHFC Programs (HOME & Military Heroes). Serves households up to 8%. $1,,. 1 HOME Match {second mortgages) Funding will provide the local required dollar match for the federal HOME program for purchase assistance for first time homebuyers. Serves households up to 8%. $375,. 5 Utility Connection Funding will assist income eligible single family homeowners for payment of service initiation and connection fees for new water and/or sewer service or to pay impact fees charges. Serves households up to 12%. $1,. 1 SHIP FY Allocation $4,683,57; minus 1 percent Administrative set-aside $468,36

1 so 142 3 SHIP 214-215 Funding Recommendations (Cont.) Emergency Roof Funding will assist income-eligible owner-occupied $89,751.

5 1 so SHIP Funding Recommendations (Cont.) Emergency Roof Funding will assist income-eligible owner-occupied $89,751.3 Repairs applicants to address emergency roofing repairs or replacement. Serves households up to 12%. Foreclosure Prevention Funding will assist income eligible homeowners $15,. who are facing foreclosure due to an unexpected loss of household income. Serves households up to 12%. Rental Housing Re- This strategy will provide financial assistance $5,. Entry Assistance to eligible extremely-low, very-low, and low (Homeless and At-risk of Homelessness) income households to pay for rental security deposits, utility deposits, and connection fees. Serves households up to 8%. Total 7 $4,214, Sixty-five percent (65%) of funding must be expended on homeownership activities. 2. Twenty percent (2%) offunding must be expended on special needs. 3. Priority preferences for persons with disabilities, elderly and veterans.

6 14- I I~%' BOARD OF COUNTY COMMISSIONERS PALM BEACH COUNTY, FLORIDA AMENDMENT Page 1 of 1 BGEX BGRV Use this form to provide budget for items not anticipated in the budget. ACCOUNT NUMBER ACCOUNT NAME ORIGINAL FUND 11 - Affordable Housing Trust Fund (SHIP) CURRENT INCREASE DECREASE EXPENDED/ ADJUSTED ENCUMBERED REMAINING BALANCE REVENUE State Grant - Other Human Services 4,683,57 4,683,57 TOTAL REVENUE 1,836,67 4,87,591 4,683,57 8,77,648 EXPENDITURES Personal Services - Indirect Legal Services Other Contractual Services Postage Rental Storage Registration Fees Dues and Membership Operating Reserves Contributions for Individuals 141,52 5, 1, 188, ,127 18, 1, 2,185,438 2, 7, 3, 5 2, ,6 4,214, ,127 7, 21, 5 3, ,6 6,4,189 5,41 12,12 586,127 7, 15, , ,6 6,388,69 TOTAL EXPENDITURES 1,836,67 4,87,591 4,683,57 8,77,648 INITIATING DEPARTMENT/DIVISION Administration/Budget Department Approval OFMB Department - Posted Signatures ~ A l!jkf/lf Date By Board of County Commissioners At Meeting of : October 21, 214 Deputy Clerk to the Board of County Commissioners

7 14- //~ BOARD OF COUNTY COMMISSIONERS PALM BEACH COUNTY, FLORIDA TRANSFER Page 1 of 1 BGEX Use this form to provide budget for items not anticipated in the budget. ACCOUNT NUMBER ACCOUNT NAME ORIGINAL FUND Economic Development CURRENT INCREASE DECREASE ADJUSTED EXPENDED/ ENCUMBERED 1 }8 /~(')14 REMAINING BALANCE EXPENDITURES Charge Off - Personal Services Office Supplies (3,477,291) 214,499 (3,561,398) 22,33 2, 2, (3,761,398) 222,33 6,919 (3,761,398) 215,411 TOTAL EXPENDITURES 2, 2, INITIATING DEPARTMENT/DIVISION Administration/Budget Department Approval OFMB Department - Posted ifµ~- Signatures Date By Board of County Commissioners At Meeting of : October 21,214 Deputy Clerk to the Board of County Commissioners

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-(J...,..l. j;_--j / ~ctor Date I. EXECUTIVE BRIEF. Meeting Date: Department: Background and Justification: On May 18, 1993, the BCC adopted its Affordable Housing Ordinance (No.93-8 as amended) pursuant to the SHIP regulations outlined by the FHFC. SHIP funds are used to facilitate