HomeMy WebLinkAboutFY 2002 HOME Funded Projects Department of Commerce
SEP 1 8 2002
GITY OF LAUREL
DATE: September 16, 2002
TO: Persons Interested in the HOME Program ~
FROM: Conme Onstad, Program Manageri.,.~, L ~
H'OrvlE rn~e~t~ht Pa rtn6r~hTiS' ~'~o~a~n .........
RE: FFY 2002 HOME Funded Projects
The deadline for Federal Fiscal Year (FFY) 2002 HOME Investment Partnerships
Program (HOME) grant applications was July 1, 2002. Ten applicants competed
for $4,630,792 in FFY 2002 HUD/HOME Project funds. Four Proposals are
tentatively awarded funding. Cost estimates of the four proposed projects total
$6,895,240. Below is a summary of the projects.
Applicant HOME Request Project
Budl:let
Missoula Housing Authority $500,000 $975,000
This is a Single Room Occupancy (SRO) project. It is a 16-unit project consisting
entirely of single room occupancy apartments.
- -Applicant ..... TiO[~EReuuest -- Pr~ect Bu-cr, qet
City of Plentywood $498,000 $521,400
The project is the rehabilitation of approximately 26 homes within the corporate
limits of the City of Plentywood. Twenty-five of the units ara owner occupied and
one unit is a rental owned by Glenwood Incorporated. All participants have an
income below 50 percent of the county median.
Applicant HOME Request Project Bud;let
Missoula County $500,000 $3,088,840
The project'will Provide first-time homebuyer assistance to an estimated 20-25
Iow-income households to purchase a home within Missoula County. The project
is a continuation and expansion of the HRC Homebuyer Assistance Program that
began in 1999 in Ravalli County. With MBOH and/or Rural Development lst/2nd
mortgage financing, the program provides deferred payment mortgages to
finance the gap between increasing home purchase prices and the amount
families can afford.
Applicant HOME Request Proiect Budaet
Glacier Affordable $500,000 $2,310,000
Housing Foundation
The Glacier Affordable Housing Foundation (GAHF) will provide up to $30,000 in
down payment and closing cost assistance to 20 Iow-to-moderate first time
homebuyers residing within Flathead County. The HOME funds will provide no-
interest, deferred payment loans that will become due and payable upon sale or
refinance of the home. GAHF will "set aside" $150,000 of HOME funds for
homes purchased within the city limits of Whitefish. Due to the high cost of
housing in Whitefish, the City of Whitefish, will contribute an additional $'10,000 in
subsidy for up to six homeowners. Montana Board of Housing will provide 6%
permanent financing and Rural Development will guarantee the loans. GAHF will
contribute $50,000 in program income funds.
~ Montana Housing Partnership Conference 2002 ~
~ "Achieving the American Dream"
~ Dates: Wednesday, October 9th through Friday, October 11~, 2002~
~ Location: Sheraton Billings Hotel, 27 North 27th Street in the heart of Downtown, Billings, ~
~ Montana. ~,,
~. Presenters: A full slate of knowledgeable and experienced panelists exploring various
housing issues and related subjects of concern to lenders, developers, realtors, ~'
~,, architects, economic development professionals City & County officials, State & ~
~,, Federal program operators, nonprofit organizations, Legislators, Iow-income ~
advocates, and other community builders.
_~,,_ ............ Pre-reg?trati0n requi!?d. _ ....... ~
~ For more information and a Registration Packet send- Name, Organization, Address, Phone ~
Number, Email Address to Mr. Joe Burst at BurstJ@ci.billinqs.mt. us or call 406 657-3045 or
~" contact Mr. Caoey Joyoe at iovce@biaskveda.or.q call 406 256-6871, x#241. ~
~ "Early registrations" must be received by September 25, 2002. ~
~ PUBLIC INVITATION ~
~ ANNUAL ACTION PLAN CITIZEN REVIEW MEETING ~
~ _You ar~ invited, t,o.~attend one ~f two community meetings being held in October 2002. ~
~ ~ne:pa,~ese ~e~ .... mc-etmgs~s to ~ece~ve-eomments~on the-proposed Annual Actiorr~ ~-
~,, Plan that begins on April 1, 2003. The Action Plan is the application for access to ~
~,, federal housing funds totaling over $13 million for the Community Development Block
Grant, Home Investment Partnerships, and Emergency Shelter Grant programs. ~
~ The first meetings will be held in Billings on Friday, October 11, 2002 from 7:15 to ~,,
~,, 8:45 a,m. (FREE continental breakfast provided) in conjunction with the Montana
Housing Partnership Conference at the Billings Sheraton Hotel, 27 West 27th, Billings, ~"
~,, rvlT. ~
~ The second meeting will be held in Boulder on Tuesday, October 22, 2002 from 7:00 ~''
~ to 8:30 p.m. (refreshments provided) at the Jefferson High School, 312 S. Main, ~
~ Boulder, Montana. ~,,
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