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. 606619-23, to 2022 Agreement to Use Home Investment Partnerships Program (HOME) Funds by the Clark County; 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.2023 |
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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. 1 has no fiscal impact. Total Agreement amount remains unchanged at $701,278 |
BACKGROUND:
On June 20, 2023, the Board of County Commissioners (Board) approved the award of CBE No. 606619-23 to the State of Nevada, Department of Business and Industry, Nevada Housing Division in the amount of $701,278 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 date of award through June 30, 2027.
Approval of Amendment No. 1 will extend the projects commitment deadline from July 1, 2024 to June 30, 2026. The expenditure deadline remains unchanged which is June 30, 2027. The attached Amendment No. 1 document details the modifications involved.
Contract Summary:
BCC Agenda Date Agenda Item No. Description Amount (*)
06/20/2023 Item 7 Award $701,278
Pending Pending Amendment 1 No Fiscal Impact
New Total Contract Amount $701,278
(*) Amounts reported reflect the maximum allowable and are inclusive of annual escalators.