CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Jessica Colvin, Chief Financial Officer Dagny Stapleton, Community Housing Administrator |
Recommendation:
title
Authorize the Chair to sign an Amendment to Interlocal Agreement No. CFDA 14.239 with the State of Nevada, Department of Business and Industry, Nevada Housing Division, for CBE No. 606019-21, to 2021 Agreement to Use Home Investment Partnerships Program (HOME) Funds by the Clark County Consortium; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2011.000 |
Fund Name: |
HUD & State Housing Grants |
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Fund Center: |
1080719000 |
Funded PGM/Grant: |
1080.NVHOME.2022 |
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Amount: |
No fiscal impact |
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Description: |
Home Investment Partnership (HOME) Program |
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Additional Comments: |
Amendment No. 3 has no fiscal impact. Total Agreement amount remains unchanged at $856,756.22 |
BACKGROUND:
On December 7, 2021, the Board of County Commissioners (Board) approved the award of CBE No. 606019-21 to the State of Nevada, Department of Business and Industry, Nevada Housing Division in the amount of $784,738 to provide HOME Program Funds to Clark County, the lead agent of the Clark County HOME Consortium, to assist with qualified projects under HOME Program rules, statutes, and regulations for the production of multifamily rental properties through acquisition, new construction, and rehabilitation in order to provide affordable housing assistance to qualified clients.
The following are the pertinent provisions of the Agreement:
• The term of the Agreement was from December 7, 2021 through June 30, 2026.
Amendment No. 1 updated Section 3 of the Housing and Urban Development (HUD) Act of 1968 from 24 CFR Part 135 to now reflect 24 CFR Part 75.
Amendment No. 2 increased the funds for Program Income.
Approval of Amendment No. 3 will extend the expended-by date from June 30, 2026 to June 30, 2027. The attached Amendment No. 3 document details the modifications involved.
Contract Summary:
BCC Agenda Date Agenda Item No. Description Amount (*)
12/07/2021 Item 9 Award $784,738
06/07/2022 Item 18 Amendment 1 No Fiscal Impact
05/06/2025 Item 10 Amendment 2 $72,018.22
Pending Pending Amendment 3 No Fiscal Impact
New Total Contract Amount $856,756.22
(*) Amounts reported reflect the maximum allowable and are inclusive of annual escalators.