To: Dr. Beverly Brown, Community & Economic Development Committee Chairperson
From: Derek Bradshaw, Director
title
RE: Approval of the proposed Genesee County Housing Initiative, in the amount of $12.8 million, to provide for new housing development financing and a county-wide roof replacement program
recommendation
BOARD ACTION REQUESTED:
Requesting approval to implement a $12.8 million housing initiative for Genesee County. The initiative will be called "Genesee County: Our Housing Future" and will provide for new housing development financing and a county-wide roof replacement program. The approval of the initiative will also require additional action including acceptance of a $1.77 million grant agreement, for Commissioner Avery's signature, from the Michigan State Housing Development Authority for a County-wide roof revitalization program; approval of a budget adjustment for the $1.77 million award; approval to expedite specific County approval processes related to roofing contract awards; and requesting an allocation of $74,000 to cover indirect costs not eligible under the grant funds.
BACKGROUND:
Safe, decent affordable housing is an issue in communities across the nation. In Genesee County, data shows a need for 7,000 quality affordable units. Over the last several months, staff has been developing an initiative to address affordable housing needs in the County. Through these efforts the "Our Housing Future" initiative has been developed with two major funding areas: the Housing Impact Fund and the Roof Revitalization Fund. Housing Impact Fund: Genesee County receives HOME funding each year from the Department of Housing and Urban Development (HUD) to carry out affordable housing development activities. The total HOME funds available from current and future allocations is $5 million. Genesee County Treasurer, Deb Cherry, is a partner on the project and has committed to provide $5 million to assist in financing affordable housing units county-wide....
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