No action required. This presentation is for information only.

Since 1999 the City of Flagstaff has created three first-time homebuyer assistance programs with differing income eligibility criteria. Through a competitive RFP process, Housing Solutions of Northern Arizona (formerly BOTHANDS) has been awarded the administration of these programs. Since then the City has assisted 278 first time Flagstaff homebuyers with closing cost and down payment assistance. 

1. BOTHANDS Financial Assistance Program (BFAP) - Community Development Block Grant (CDBG) allocation with eligibility to serve 80% of the area median income (AMI).
2. Community Homebuyers Assistance Program (CHAP) - City of Flagstaff general funds with eligibility to serve 125% AMI.
3. Employer Assisted Housing Program (EAH) - City of Flagstaff general funds with no income eligibility criteria.

278 households served in the greater Flagstaff area consisted of:

• 388 adults and 345 children (total of 732 individuals assisted)
• 39% of homebuyers were female heads of household
• 81.97% was the average Area Median Income (AMI) served
• $40,436 was the average household annual income

The purpose of this presentation is to give the City Council and the public an update on the existing Community Homebuyer Assistance Program (CHAP) and the Employer Assisted Housing Program (EAH). The presentation gives a historical overview of city-funded down payment assistance programs, demographics, and outcomes, as well as a snapshot of the existing programs.