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GARLAND
POLICY REPORT
Work Session Item 3.a.
City Council Work Session Agenda
Meeting Date:
05/01/2023
Item Title:
Acquisition of Property Located at 1317 Blanco Drive Through the CDBG funded GREAT Homes Program
Submitted By:
Mona Woodard
Strategic Focus Areas
:
Vibrant Neighborhoods and Commercial Centers
ISSUE
The Community Development Department is seeking Council authorization to purchase a single-family property located at 1317 Blanco Lane through the Community Development Block Grant (CDBG) funded GREAT Homes Program.
OPTIONS
Council may:
Approve the purchase of the single-family property.
Deny the purchase of the single-family property.
RECOMMENDATION
Staff recommends that the City Council approve the purchase of the property located at 1317 Blanco Lane. Unless otherwise directed by Council, this item will be scheduled for formal consideration at the May 16, 2023, Regular Meeting.
BACKGROUND
The City of Garland is an entitlement community that receives Federal CDBG funding through the Department of Housing and Urban Development. Funding through the CDBG program must be used to primarily benefit low-income persons. The City Council approved the GREAT Homes Program for the fiscal year beginning on October 1, 2022, and ending on September 30, 2023. The City's GREAT Homes program aims to revitalize our existing housing stock to assist with the revitalization of existing neighborhoods. The Community Development Department seeks to increase the availability of safe and decent housing for low-income families and individuals by providing flexible lending tools for selling acquired properties, rehabilitating existing homes, and constructing new homes.
CONSIDERATION
The Seller accepted the City's offer of $335,000 on the condition that the City Council approved the acquisition of the property. If approved, the property will be formally purchased on May 17th, 2023. GREAT Homes projects are eligible for in-house financing for a qualified buyer, allowing the City to make necessary repairs and upgrades to a home while also offering a mortgage financing structure to make homeownership more affordable to low-income families. This project will meet a national objective as set forth by the Housing and Urban Development Department for the Federal Government.
Attachments
Property Information 1317 Blanco Lane
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