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Res. _____, 2012-2013 Amending the 2013 Capital Budget to Provide Funds for a Housing Partnership Program The 2013 Capital Budget includes $500,000 for planning and potential acquisition of property for a single room occupancy (SRO) facility. The Capital Budget Resolution specifies that a portion of the funds must be used to conduct an economic feasibility analysis to analyze the potential operating revenues, expenditures, capital requirements and debt service recovery that could be supported by an SRO facility as well as the potential for CDBG and HOME funds and other partnerships. The effort to develop SRO housing recognizes a significant need in the community. The process contemplated by the Budget has the goal of developing a large scale SRO facility by 2014. While the County remains committed to this goal, it desires to explore ways to create affordable housing for those in need on an earlier timeline. This resolution transfers $250,000 from the SRO Housing capital project into a new partnership program intended to stimulate the immediate development of affordable, cooperative housing options. The focus of the partnership program would be to meet the needs of the un-housed. Using the resources contained in the 2013 Budget, the County’s goal is to provide affordable housing opportunities for at least 20 individuals. The Department of Human Services is charged with developing and administering the partnership program using the following broad guidelines: • • • • • • • The project must focus on meeting the needs of the un-housed. The County will make up to $250,000 available for qualifying capital costs. The County’s financial participation cannot be used for operating costs, although the proposal process should solicit information on partners’ operating budget projections. The project partner must demonstrate the capacity to develop low cost housing for the target population in an expeditious manner. More than one project may be awarded to one or more partners. County funds may be used in combination with other public or private financing. Preference will be given to projects that leverage other resources to enhance the size and scope. The Department of Human Services will review partnership applications and recommend projects to the County Board and County Executive. Each project will be approved by the County Board and County Executive through the normal resolution process.

NOW THEREFORE BE IT RESOLVED, that $250,000 be transferred from the SRO Housing capital account to a new capital account titled Housing Partnership Program; and

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BE IT FURTHER RESOLVED, that expenditures from this account are authorized to proceed in advance of borrowing; and BE IT FURTHER RESOLVED, that the Department of Human Services is authorized to take the necessary actions to develop, implement, and select projects; and BE IT FINALLY RESOLVED that if the funds allocated to the Housing Partnership Program are not obligated by resolution by January 1, 2014 all unobligated funds will be returned to the SRO Housing account.

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