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City of Missoula, Montana Item to be Referred to City Council Committee Committee: Administration and Finance (A&F) Item: Amendment to HOME awards for Program Year 2010 Date: April 20, 2010 Prepared by: Nancy Harte, OPG Initiated by: Nancy Harte Action Required: To amend Resolution 7502 awarding Home Investment Partnership (HOME) funds to reallocate funds. Recommended Motion: I move the City Council amend Resolution 7502 to award HOME funds in the amounts of $315,000 to homeWORD and $325,000 to District XI Human Resource Council. Timeline: Referral to committee: April 20, 2010 Committee discussion: TBA Council meeting: TBA Background and Alternatives Explored: On February 8, 2010, City Council approved HOME awards to homeWORD ($160,000), District XI Human Resource Council ($200,000) and the Missoula Housing Authority ($207,000). Since those awards, the City has been notified of its final 2010 allocation, and the Missoula Housing Authority (MHA) has withdrawn its application for Low Income Housing Tax Credits from the Montana Department of Commerce, and intends to reapply for LIHTC next year with a project of broader scope, upon the recommendation of MDOC. MHA has asked that a scaled-down version of their project be funded by this year’s City HOME award. Staff recommends not providing HOME funds to MHA this year, and reallocating the HOME funds to homeWORD and the Human Resource Council proportionately based on scoring. MHA may apply for HOME funds next year with its restructured project. Financial Implications: Awards are based on the amount granted by congressional appropriation through the U.S. Department of Housing and Urban Development. Attachment: Proposed HOME resolution Resolution 7502 Letter from Missoula Housing Authority