CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Jessica Colvin, Chief Financial Officer Dagny Stapleton, Community Housing Administrator |
Recommendation:
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Authorize the Chair to sign an Amendment to the Interlocal Agreement with the State of Nevada, Department of Business and Industry, Nevada Housing Division, for CBE No. 606019-21, to use Home Investment Partnership (HOME) Program CFDA 14.239; 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: |
$72,018.22 |
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Description: |
Home Investment Partnership (HOME) Program |
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Additional Comments: |
The initial Agreement amount to be disbursed to County was $784,738. Amendment No. 1 had no fiscal impact. Amendment No. 2 will increase the Agreement amount by $72,018.22, for a new total Agreement amount of $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 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.
Approval of Amendment No. 2 will increase the funds for Program Income. The attached Amendment No. 2 document details the modifications and costs involved.