SUBJECT
title
Authorizing the City Manager to submit a grant application in the amount of $25,000,000.00 to the U.S. Department of Housing and Urban Development, under the Preservation & Reinvested Initiative for Community Enhancement (PRICE) Grant, which will focus on affordable housing preservation by encouraging revitalization and enhancement activities to preserve existing manufactured housing communities (MHCs), and manufactured housing units, including the repair, rehabilitation, and replacement of existing manufactured homes. No match will be required.
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PREVIOUS COUNCIL ACTION
On May 6, 2024, a public hearing was held at City Council Chambers to allow the public and City Council to submit any comments on the PRICE Grant application.
BACKGROUND
HUD issued a Notice of Funding Opportunity (NOFO) which appropriates $225 million in competitive grant funding for the preservation and revitalization of manufactured housing and eligible manufactured housing communities. Congress has directed HUD to undertake a competition using the Community Development Block Grant (CDBG) statutory and regulatory framework for this first-of-its-kind initiative. The Preservation and Reinvestment Initiative for Community Enhancement supports communities in their efforts to maintain, protect, and stabilize manufactured housing and manufactured housing communities (MHCs).
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
That this resolution be passed.
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Fiscal Impact
Fiscal Year: 2023-2024
Budgeted Y/N?: N
Source of Funds: HUD
Account #: N/A
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
No Financial impact at the time of submittal of grant application.