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HomeMy WebLinkAboutDept of Commerce HOME appTO: FROM: DATE: RE: M. NTANA Department of COmmerce HOUSING DIVISION Persons interested in the HOME Program CITY OF L? !JH ' L Julie Flynn, Program Manager HOME Investment Partnerships Program March 12, 2004 Applications for 2004 HOME funds The application deadline for FFY 2004 HOME Investment Partnerships Program funds was March 5, 2004. Local governments and Community Housing Development Organizations were eligible applicants. The Montana Department of Commerce received 16 applications requesting $6,077,186 in HOME funds. The 16 projects would leverage a variety of other sources of funds for total project costs of $21,454,648. A summary of each application follows. Grant awards will be announced no later than May 14, 2004. Applicant Cascade County .HOME FFY 2004 APPLICANT SUMMARY $275,000 $778,500 The project will involve a variety of activities involving 15 households. The activities include: homebuyer assistance in the form of due-on-sale mortgages for down payment and closing costs for existing homes; homeowner rehabilitation in the form of due-on- Sale mort~ges for the costs of making essential improvements and bringing homes up to applicable standards; construction of new homes on in-fill lots in existing rural communities; acquisition/rehabilitation of salvageable homes; and/or purchase/ demolition of inadequate housing stock to provide lots for in-fill construction. City of Bozeman $500,000 $1,916,667 This accessible, affordable project will consist of one newly constructed building with one centrally located elevator for ease of resident access. The building will be constructed to serve as an independent living apartment for 17 persons with disabilities. The number of units is 18. Of these units 14 will be one bedroom and 4 Will be two bedroom units. One two-bedroom unit will be reserved for an on-site caretaker. Page 1 of 4 Flathead County $448,000 $490,906 The project will provide funds to 30 or more Iow-income senior homeowners to rehabilitate their owner-occupied homes. Assistance will be provided to households throughout Flathead County. ~ · Flathead Lake CHDO $237,093 $257,392 The CHDO will acquire a 5-unit home to provide single-room occupancy rental units to severely mentally ill adults located in Flathead County. The residents will also receive supportive services. Glacier Affordable Housing Foundation $500,000 $2,360,000 The project will provide down payment and closing cost assistance to 15-20 Iow- income, first-time homebuyers, who will purchase homes within Flathead County. Glacier Affordable Housing Foundation will secure the no-interest, deferred payment loans through a Resale Restriction Agreement. When the homes are sold or refinanced, the funds will be recaptured and provided to additional eligible homebuyers for home purchases. homeWORD $500,000 $5,521,100 The Grove Street Apar[ments in Missoula County will provide 35 units of newly constructed affordable housing. The rents at Grove are structured to be affordable to people between 30-50% AMI. The site plan provides for almost 2 acres of open space and trails. Other innovations include: an IDA savings program, energy efficient and sustainable building design, a working orchard and a truly beautiful, community driven design. Human Resource Council XI $500,000 $1,319,400 The HRC Xl will purchase three Rural Development Elderly Low-Income Rental Housing Projects in Ravalli County, the Terrace Apartments (20 units), the Charlos Apartments (8 units), and the Darby Apartments (8 units) in order to preserve them as affordable to very-low income eldedy households families. Tenants of the apartments will pay no more than 30% of their monthly income for rent and utilities. Human Resource Development Council IX $443,300 $1,640,900 The HRDC will purchase 14 lots for the local Habitat for Humanity to build homes on for HOME-eligible families. The local Habitat has experience with building homes for persons below 50% AMI. The HRDC will serve as sponsor and owner of the lots and Habitat will do the building, recruit and place the purchasing households. Page 2 of 4 Lincoln County $400,000 $467,000 The project will complete the construction of five apartments for Iow-income seniors in Troy,' Montana. Construction was started as part of the new Kootenai Senior Citizens Center Building. Part of the requested HOME funds will be used to retire part of the debt incurred during construction of the first phase of the apartments. The remaining funds will be used in conjunction with other sources to complete the apartments. Missoula County $282,918 $609,428 ORI intends to construct an accessible duplex to provide residential and other supportive services for 8 individuals with severe physical disabilities, pdmadly traumatic brain injuries (TBI).Each unit in the duplex will have four bedrooms and shared bathroom facilities. Park County $200,000 $1,129,400 The project Will provide down payment and closing cost assistance to 20 homebuyers at or below 80% of median income in Park County. Ali loans will be due on sale and secured by second mortgages. Ravalli County $400,000 $2,209,689 The project has two parts. The first will provide homebuyer assistance to an estimated 15 to 20 lower income households in Ravalli County and the second will provide funds to the HRC XI to purchase two existing rural Development projects, in order to preserve 8 total units of affordable housing in Victor and Corvallis, Montana. The homebuyer program provides deferred payment mortgages to finance the affordability gap. Sheridan County $262,000 ' $287,000 The pr~ar.,t will weathedZe and provide safe and sanitary living conditions for the senior residents of the Pioneer Manor. 39 of the Manor's 56 units will be designated HOME- assisted units. Town of Bfidger $378,875 $660,420 The project will provide homebuyer assistance to 5 first-time homebuyers and rehabilitation assistance to 15 owner occupied housing units. A portion of the granted funds will be forgiven over the course of the period of affordability. Page 3 of 4 Treasure County $250,000 $815,366 The project Will construct an eight-unit assisted-living apartment complex in Hysham, Montana. Five units will house Iow-income renters. Each unit is one bedroom and the facility will have a common dining and living area. Whitefish Housing Authority $500,000 $991,480 The Whitefish Housing Auth0dty proposes to use HOME funds for the site improvement and construction costs to build five townhouses in an existing neighborhood within the city limits of Whitefish. The property for the proposed project has been secured through an agreement with the non-profit owner: HOME fundswill be used to make the homes affordable to homebuyers earning 51% to 80% of area median income. Page 4 of 4