HomeMy WebLinkAbout04-130 DATE SUBMITTED: BILL tt 0¥-13o
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Approval of the proposed use Committee Meeting Date: June 30th 2004
and outreach efforts associated with the COUNCIL MEETING Date: July 7* 2004
HUD granted American Dream Department: DCD
Downpayment Initiative (ADDI) 2003 and Presenter: Michelle Eichhom
2004 program funds in the amount of Phone: 473-5375
$58,27O.
SUMMARY:
AMERICAN DREAM DOWNPAYMENT INITIATIVE: As a member of a HOME consortium with
Kitsap County, the City will receive a total of approximately $58,270 or 45.4% of each years ADDI
funding (from Federal FY '03 and FY '04) for the purpose of making downpayment assistance to low-
income families who are first-time homebuyers.
RECOMMENDATION: It is recommended that these funds be designated for the City's Homebuyer
Assistance Program. In accordance with the requirements of the program, the City will conduct
targeted outreach to tenants of public housing, and to other families assisted by public housing
agencies, for the purpose of ensuring that these funds are used to provide Homebuyer assistance for
such residents.
ATTACHMENTS: Proposed ADDI Use and Outreach Plan
FISCAL IMPACTS (Include Budgeted Amount): Tbere will be an additional $58,270 available for
funding downpayment assistance activities.
APPROVALS:
DEPARTMENT DIRECTOR: ~ ~
CITY ATTORNEY:
FINANCE DIRECTOR:
CONSENT'
OPERATIONS: (/~~__ ~
COUNCIL PRESIDENT: - ~) ~,./Df./L
RECOMMENDEDMOTION: M0¥£ T0 ^PPR0VE IH[ USE 0F HOD GR^N'r£0
D0~/N ?AYtqENT IIqITl^TlYE" (ADDI) 2003 AIqD 200/~ PROGRAiq FONDS IN THE Aiq0UNT OF
$58,270 FOR F[JNDI~IG H0~qEBIJYER AS$1STAIqEE AETI¥1TIES.
COUNCIL ACTION: [~Approve [] Deny [] Table [] Continue [] No Action