By a 5-1 vote, the council approved a funding agreement for a grant of HOME Investment Partnership funds to B/CS Habitat for Humanity for $320,000 in support of affordable single-family housing. Council Member Jess Fields voted against the motion.
The federal HOME Investment Partnership Program provides assistance to income qualified households by providing funds for a variety of affordable housing activities. In June, the council directed staff to expand its partnership with B/CS Habitat for Humanity by providing HOME Investment Partnership funds to enable Habitat for Humanity to build affordable housing in College Station. The Habitat for Humanity Board approved the funding agreement in September.
The agreement designates funds for acquisition of suitable property, demolition of substandard structures as necessary, and construction of affordable single-family homes. The city will approve the property acquired, the house design and the project budget before each project starts. In addition, the exterior of the homes must be a minimum of 25 percent brick and must have a garage if the lot size permits. The amount of funds provided by the city for each project will not exceed $80,000.
The agreement grants $320,000 of unobligated FY 2010 HOME funds to Habitat for Humanity for the production of affordable homes available to low- and moderate-income families. These funds will be provided to Habitat for Humanity on a reimbursement basis. HOME grant funds are required to be allocated within 24 months of the grant year and expended within 5 years.