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Home My WebLink About12/04/2023 - Meeting Materials HOME Community Development Corporation of Utah-Down Payment Assistance First Step House-Recovery Housing Program Housing Opportunities Inc.-New City Plaza Apartments Salt Lake City Neighborhood Improvement&Stabilization Team—Homebuyer Program Utah Community Action-HOME NeighborWorks Salt Lake-Downpayment Assistance Salt Lake Valley Habitat for Humanity-Affordable Home Ownership South Valley Sanctuary-Domestic Violence Survivor Housing Assistance The Road Home-Tenant-Based Rental Assistance-FY2025 Volunteers of America,Utah-Youth Resource Center TBRA Pilot Yr. 2 Teresa's name was spelled incorrectly in the first two iterations of the minutes. Teresa motioned to approve,Jake Second,unanimous approved In attendance: Jake Teresa Brad Heidi Devon Application Review for 12-4-2093 #1.Community Development Corporation of Utah-Down Payment Assistance HOME Description: CDCU will award grants/loans to between 8 and io first-time LMI home buyers in Salt Lake City for down payment assistance.Clients will receive home buyer education and one-on-one counseling(not paid for by this grant).Down payment assistance will be in amounts up to$39,000, depending on CDCU's analysis of the client's need and on the requirements of the lender. DPA must be repaid if the home is sold within the first five years(for awards up to$15,000)or ten years (for awards of$15,000 to$40,000).A trust deed filed at closing will ensure that CDCU receives notice when the home is sold. Requesting: $374,800.00 Beneficiaries: io Board Questions: Brad: For all DPA assistance program: Would it be more efficient to award all DPA funds to one agency rather than potentially split among three? #2.First Step House-Recovery Housing Program HOME Description: First Step House will provide services on-site and at the FSH Outpatient Clinic at 434 South Soo East.On-site services include home visits,case management services,peer support services, and recovery support groups.On-site services will be provided Mon-Fri during day and evening hours. Off-site services include outpatient SUD treatment,medical care,employment preparation,financial education and credit repair,support for long-term recovery,and linkage with community resources. Case managers will coordinate additional services with community providers as needed. HOME funds under this grant will be specifically used for rehabilitation associated with mold and meth remediation as well as carpet,paint,and sprinkler system. Requesting: $500,000.00 Beneficiaries: 18 Board Questions: None #3.Housing Opportunities Inc. -New City Plaza Apartments HOME Description:The intended use for NCP is to provide continued housing for Seniors and those living with Disabilities. Careful consideration was given to the design of the building to provided upgrades to ADA enhancements that will better meet the unique needs of Housing Authorities'clientele.The interiors will be completely updated with new flooring,kitchen,bathrooms,and paint,resulting in the units that look new when completed. Each unit will be Energy Star rated.NCP will target 20%energy cost saving relative to the baseline.Exterior Repair work will occur at the parking lots and trash enclosure in conjunction with landscaping and civil upgrades to meet Uniform Federal Accessibility Standards. Requesting: $ 2,000,000.00 Beneficiaries: 299 Board Questions: Devon: Can you provide a timeline for completion of the project? #4.Salt Lake City Neighborhood Improvement&Stabilization Team—Homebuyer Program HOME Description:This funding will go towards financing a mortgage loan.A household must undergo underwriting which includes income verification,debt to income ratios,and credit score review.It is likely that the requested amount will support one to two homebuyers with the Shared Equity program.This provides a low-interest option for households to purchase a home,build equity,and preserve affordability. Requesting: $400,000.00 Beneficiaries: 2 Board Questions: Andrea What is the maximum loan amount per applicant?Is it required to go through Shared Equity program to be eligible for this program? Brad: For all DPA assistance program: Would it be more efficient to award all DPA funds to one agency rather than potentially split among three? #5.Utah Community Action-HOME HOME Description: UCA will staff case workers who receive clients from the current intake system and/or partner referrals.Each client will be assessed and provided with holistic case management and appropriate resources for their needs,which may include emergency rental assistance.Data will be tracked on each client and reported to appropriate funders. Funding will go towards salaries/benefits,rental assistance,and administration Requesting: $ 233,142.00 Beneficiaries: 210 Board Questions: Brad: Of the 210 beneficiaries,how many do you estimate will receive direct rental assistance? #6.NeighborWorks Salt Lake-Downpayment Assistance HOME Description:AHB(Affordable Homeownership Program)staff will evaluate program applicant's income,affordability,and housing needs to determine qualification for a home purchase buydown of up to$look.This amount will serve 4-16 buyers and cover the administration of the program(5%).The intent of this buydown is to bridge the affordability gap,decrease the interest rate and payments,and create a new homeowner.This buydown will function as a silent second mortgage; no payment or interest will be collected from the buyer unless the homeowner decides to later sell or refinance the home.Then, HOME funds are recaptured,and repaid. SLC HOME funds to provide a home mortgage assistance of up to$1oo,000 for income qualified customers purchasing a home in Salt Lake City.NWSL will act as administrator and steward these funds including deployment,monitoring,and recapture of funds upon resale or refinancing Requesting: $420,000.00 Beneficiaries: 20 Board Questions: Brad: For all DPA assistance program: Would it be more efficient to award all DPA funds to one agency rather than potentially split among three? #7.Salt Lake Valley Habitat for Humanity-Affordable Home Ownership HOME Description: Salt Lake Valley Habitat for Humanity intends to build at least 5 homes by 2026.The five homes built will be affordable to low-moderate income households(below 8o%of AMI).The cost of the homes will be near$350,000.Their housing payments will be at or below 30%of their gross income.The energy costs will be as low as$boo per year,possibly saving the household on average$too per month. Zero percent interest mortgages will be provided.Funding will go toward construction and infrastructure. Requesting: $ 600,000.00 Beneficiaries: 5 Board Questions: None #8. South Valley Sanctuary-Domestic Violence Survivor Housing Assistance HOME Description: SVS is seeking funding for the Community Resource Center(CRC)case manager wages as well as funding for housing assistance programs offered by the CRC.The CRC is a unique program ran by SVS that allows individuals to access a variety of services,including case management and housing assistance,without the precondition of needing to reside in shelter to access them. Reducing homelessness amongst Domestic Violence Victims plays a significant role in addressing overall homelessness in Salt Lake City as over a third of domestic violence victims will become homeless in their lifetime. Requesting: $ 178,431.00 Beneficiaries: 25 Board Questions: None #9.The Road Home-Tenant-Based Rental Assistance-FY2025 HOME Description:The Road Home will provide 4o households with rental assistance and supportive services. This could include application fees,deposits,utility deposits,utility assistance,rental assistances,and barrier elimination where necessary and eligible.Households will be participants in TRH's rapid re- housing program who entered from literal homelessness through Coordinated Entry initially.Households will receive supportive services including case management,help with applying for and securing benefits, increasing income,finding employment opportunities,and referrals to specialized service providers. Funding will toward direct client assistance and project delivery costs Requesting: $350,000.00 Beneficiaries: 40 Board Questions: None #io.Volunteers of America,Utah-Youth Resource Center TBRA Pilot Yr. 2 HOME Description:The Youth Resource Center co-locates several services under one roof,including basic needs support,emergency shelter,housing-focused case management,and other wraparound supportive services.Each service is oriented toward preparing each youth client to obtain housing.The requested funds will support rental assistance for 25 youth transitioning from homelessness back into housing. Many youth accessing services are experiencing homelessness for the first time and need support in navigating housing applications and brief rental assistance.To this end,funding requested in this application will also support the addition of a Housing Specialist to help facilitate this need. Requesting: $ 174,867.00 Beneficiaries: 25 Board Questions: