HomeMy WebLinkAbout2018-09-25 - AGENDA REPORTS - FIN SUPPORT FOR HOMES FOR FAMILIES (2)Agenda Item: 2
DATE: September 25, 2018
SUBJECT: FINANCIAL SUPPORT FOR HOMES FOR FAMILIES
DEPARTMENT: City Manager's Office
PRESENTER: Jerrid McKenna
RECOMMENDED ACTION
City Council:
1. Establish a dollar -for -dollar grant match in the amount of $75,000.
2. Appropriate $75,000 from the Developer Fees Fund Balance (Fund 306) to Homes for
Families Services Expenditure Account 13410-5161.001.
3. Authorize the City Manager or designee to execute all documents, subject to City Attorney
approval.
BACKGROUND
At the September 11, 2018, City Council meeting, the City Council directed staff to prepare an
agenda item for the September 25, 2018, meeting to discuss grant funding to support Homes for
Families.
Homes for Families was founded in Los Angeles in 2008 and exists to meet the significant need
for affordable housing and effective no -cost services that equip and prepare veteran families for
home ownership. Since 2008, Homes for Families has helped over 365 low-income families
achieve their dreams of affordable home ownership. In Santa Clarita alone, a plan was
developed to build 78 homes as part of the Enriched Neighborhood Affordable Housing
Veterans' project. To date, 60 affordable homes have been built and the remaining 18 are
planned to be completed the first quarter of 2019.
Homes for Families is seeking financial assistance with completing the final phase of the project,
which would create 18 additional homes in Santa Clarita. Homes for Families has faced
unanticipated costs during phases one through three of the project, primarily due to increased
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construction costs. Unfortunately, those increased costs have depleted resources from other
Homes for Families services and programs. Such services and programs include, but are not
limited to, social service initiatives and programs in an affordable neighborhood honoring
veterans. The veterans are supported by the veteran -specific community of homes and by the
wrap around services they receive.
To allow their much needed services and programs to continue, Homes for Families is seeking
$150,000. Staff is recommending $75,000 in matching grant funding to assist in fulfilling this
need. This grant would enable Homes for Families to leverage other fundraising opportunities
and supports the City of Santa Clarita's goals of providing local support of programs and
services for veterans in the community.
ALTERNATIVE ACTION
Other action as determine by the City Council.
FISCAL IMPACT
Upon approval of the recommended action, the budget will be adjusted accordingly.
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