Regular City Council Meeting
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Resolution - Community Development:
Consider a resolution authorizing the Mayor to execute Community Development Funding Contract 16002 and all related documents, with the Lubbock Housing Finance Corporation, through the Community Development Block Grant, administered by the U.S. Department of Housing and Urban Development, to provide mortgage assistance to qualified low-to-moderate income persons and families.
Grantee: Lubbock Housing Finance Corporation (LHFC)
Funding source: Community Development Block Grant funds from the U.S. Department of Housing and Urban Development (HUD)
Use of funds: mortgage assistance for low-income citizens of the City of Lubbock
Allocation: Up to $200,000
Terms: October 1, 2021 - September 30, 2022
The Community Development and Services Board (CDSB) held a public hearing on March 10, 2021, followed by a public board meeting to discuss and approve the 2020 Action Plan draft. The Action Plan is the document that was submitted to HUD and serves as the City's application for, and proposed use of, Community Development Block Grant (CDBG) funding. CDSB recommends acceptance of the FY 2020 CDBG Funding from HUD.
There is no fiscal impact to the General Fund. The maximum amount allocated to LHFC for the CDBG mortgage assistance program is $200,000.
Bill Howerton, Deputy City Manager
Karen Murfee, Director of Community Development
CDBG Contract - Lubbock Housing Finance Corp. (s)
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