The Urban County Program HOME allocation for FY 2011 is $2,621,620. These funds have been distributed as shown in the table below under the column “Current Allocation”. In order to undertake CHDO activities, two local non-profits received a part of these funds and a third non-profit was set to be awarded as well, however due to unforeseen circumstances the project fell through, as a result the UCP is reallocating these funds.

Currently, the Owner Occupied Rehabilitation Program has a wait list of approximately 400 families and the list continues to grow. In an effort to utilize program funds in a timely manner, the UCP requests approval to re-allocate $65,000 from the FY 2011 CHDO line item into the FY 2011 Owner Occupied Rehabilitation Program.

Additionally, the Home Buyer Assistance Program continues to receive applications for assistance from families purchasing new homes within the County and currently has a balance of only $31,483 under the FY 2012 funding balance. All FY 2011 funds have been expended. As such, the UCP requests approval to re-allocate $25,000 from the FY 2011 CHDO line item into the FY 2011 Home Buyer Assistance Program.

	Fiscal Year 2011
HOME Programs	Current Allocation	Proposed Allocation
Home Buyer Assistance	$100,000	$125,000
Rehabilitation	$909,458	$974,458
CHDO	$1,350,000	$1,260,000
Administration	$262,162	$262,162
Total	$2,621,620	$2,621,620