AI- 92547
Urban County 11.C.
CC REGULAR AGENDA REGULAR MTG
- Meeting Date:
- 09/26/2023
- Submitted For:
- Michelle Garza
- Submitted By:
- Michelle Garza
- Department:
- URBAN COUNTY
CAPTION
Requesting approval of Amendment to the 2021 HOME Community Housing Development Organization (CHDO) Program Agreement between Hidalgo County Urban County Program and Affordable Homes of South Texas, Inc. (AHSTI).
The proposed amendment will decrease the number of new construction units from seven (7) to eight (8) to four (4) to five (5).
The proposed amendment will decrease the number of new construction units from seven (7) to eight (8) to four (4) to five (5).
BACKGROUND
During the past year AHSTI has experienced an average increase of $30,000 in the Fair Market Value of its products, increasing the property tax payment, decreasing the projected mortgage qualification and creating a greater gap for homebuyers.
Based on the increased need for funding assistance AHSTI is respectfully requesting an amendment to its FY 2021 CHDO contract.
The 2021 CHDO agreement granted Affordable Homes of South Texas, Inc., $300,000.00 HOME funds for the new construction of single family home units.
Fiscal Impact
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Budget and Management | Veronica Ortiz | 09/20/2023 08:26 AM |
| Final Approval | Monica Salinas | 09/22/2023 05:23 PM |
- Form Started By:
- Michelle Garza
- Started On:
- 09/18/2023 04:26 PM
- Final Approval Date:
- 09/22/2023