Title
Public Hearing to Consider Allocation of Program Year 2021 Community Development Block Grant Funds and Creation of Revolving Loan Fund
Recommended Action
Committee Recommendation:
General Government Committee heard plans for the PY 2021 allocation at their May 26th, 2021, meeting and approve these recommendations.
City Manager Recommendation:
Hold public hearing for new Community Development Block Grant (CDBG) Funds for Program Year 2021 (PY 2021) and the recently added CDBG Coronavirus (CDBG-CV2) grant funds.
Report
Issue:
Whether to hold public hearing for CDBG PY2021 allocation.
Staff Contact:
Darian Lightfoot, CDBG Program Manager 360.280.8951
Presenter(s):
Darian Lightfoot, CDBG Program Manager
Background and Analysis:
The City of Olympia will receive a PY 2021 Community Development Block Grant allocation of $391,548. Staff has created a proposal to allocate PY 2021 funds to the below sub grantees in an effort to address economic development and improved affordable housing.
Proposed uses for these funds are as follows:
1. Northwest Coop Development Center to provide technical assistance, business planning, and support to low/mod income residents.
2. Rebuilding Together Thurston County to provide critical home repair to low-income homeowners.
3. Homes First to provide roof repair and energy efficiency support to low-income renters.
4. Housing Authority of Thurston County to provide rental rehab to low-income renters.
5. Downtown Ambassador Program to support the downtown.
Staff is also recommending the City reinstate the Rental Rehabilitation and Single-Family Rehabilitation Programs in the form of a Revolving Loan Fund. Approximately $6M in outstanding rehabilitation loans will feed into this fund and offer new rehabilitations loans to low-income residents to complete health and safety renovations to their homes.
Approval of the CDBG Annual Action Plan require a 30-day public comment period. That period began on May 20, 2021 and wi...
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