Title
FY 2004-05 HOME Subrecipient Agreement with Central Florida Community Action Agency, Inc. (B)
Explanation
In the current FY 2004-05 General Government Budget, the City Commission approved $79,000 in HOME Investment Partnerships Program (HOME) funds for a homeowner purchase-rehab program to be implemented by Central Florida Community Action Agency, Inc. (CFCAA). CFCAA has successfully run this particular program with HOME funds for over 10 years.
During FY 2003-04, the City Commission had approved $84,207 in HOME funds for the CFCAA homeowner purchase-rehab program. One of the requirements of the HOME Program and the City's subrecipient agreement (contract) with CFCAA is that any program income that is generated by CFCAA must be used to continue the program before receiving additional funds from the City.
Due to an unusual set of circumstances last year, CFCAA was unable to draw its FY 2003-04 HOME allocation during the term of its contract with the City. CFCAA had experienced significant staff turnover, which caused a delay in implementing its programs. In addition, the agency had generated a large amount of program income ($88,700.53) from the sale of previously acquired and rehabilitated homes.
CFCAA has requested that the City allow a carryover of its unexpended FY 2003-04 HOME allocation. The agency has assured the City that it will be able to fully expend these carryover funds, along with the previously approved FY 2004-05 funds, within the remaining term of the FY 2004-05 contract, i.e. by September 30, 2005. If this request is approved by the City Commission, staff will limit the amount of funds that may be used for agency operating expenses to no more than 10% of the total allocation.
Fiscal Note
HOME funds in the amount of $84,207 are available from the FY 2003-04 carryover budget.
Recommendation
The City Commission approve the amendment to the HOME Program Subrecipient Agreement with Central Florida Community Action Agency, Inc. for FY 2004-05.