FY 14-15 Adopted Budget

HOME INVESTMENT FUND

PROGRAMS

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

Actual

Administration Program Administration provides administrative direction and support services primarily for affordable housing development and maintenance. The HOME Investment Fund (HIF) derives its revenue from a Federal grant program, the amount of which is based on a formula (entitlement) explicit in the underlying Federal law and regulations. Additional revenues of the HIF are also derived from those programs within the fund that are income- generating. The HIF is one of five operating funds utilized by the Neighborhood Development Department (NDD).

This Federal grant program provides funds for housing and closely associated housing purposes for low and very low income-eligible citizens.

Appropriation

95,550

71,448

80,499

80,499

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Housing Activities Affordable Housing: The budget provides $600,250 in funding to support non-profit housing development and Community Development Housing Organization operations.

Housing Rehabilitation: The budget provides $300,000 to support city-wide housing rehabilitation.

Appropriation

950,847

803,035

900,250

900,250

Full Time Equivalent Positions

N/A

N/A

N/A

N/A

Departmental Goals & Objectives

 Partner with public and private entities to finance and implement affordable housing programs.  Provide leadership in promoting sustainable development practices through neighborhood and area planning activities that result in clear visions and strategies for the future.  Increase number of housing units rehabilitated or repaired that are affordable to owners or renters with low to moderate income.

PERFORMANCE MEASURES

2012-13

2013-14

2014-15

2015-16

Actual

Budget

Adopted

Projected

Workload Measures  Number of rental housing units developed that are affordable to households at or below 80% of area median income  Number of single family units rehabilitated that are affordable to households at or below 80% of area median income

N/A

30.000

30

30

N/A

N/A

5

5

BUDGET SUMMARY

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

Actual

Expenditures:

Administration

95,550 950,847

71,448 803,035

80,499 900,250

80,499 900,250

Housing Activities

Total

1,046,397

874,483

980,749

980,749

Revenues:

Intergovernmental Program Income

953,028 93,369

754,483 120,000

860,749 120,000

860,749 120,000

Total

1,046,397

874,483

980,749

980,749

BUDGET HIGHLIGHTS  This summary page is for information only and is not included as part of the total budget.  The FY 12-13 Actual figures are based on to-date expenditures from the 2012-2013 allocation as of April 30, 2014.

Adopted FY 2014-15 Budget

34