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Agenda 10/24/2017 Item #16D 210/24/2017 EXECUTIVE SUMMARY Recommendation to authorize a Budget Amendment increasing the FY2016-2017 State Housing Initiative Partnership (SHIP) Program allocation by $22,179 and recognize program income received in the amount of $541,243.03 for SHIP FY2016-2017. OBJECTIVE: To continue to promote affordable housing strategies for low to moderate income persons through the SHIP Program. CONSIDERATIONS: On July 7, 1992, the Florida legislature enacted the William E. Sadowski Affordable Housing Act to provide additional funding to local communities to promote and advance affordable housing initiatives. Funds are generated through documentary stamp tax on real estate transactions. Under the SHIP program, Collier County and the City of Naples receive funds from the State of Florida through the Florida Housing Finance Corporation to undertake eligible homeownership and rental related activities. The initial allocation for SHIP fiscal year 2016-2017 funding of $2,183,568 was approved by the Board on May 24, 2016 (Agenda Item# 11E) plus additional funding of $49,377 for Counseling funds approved by the Board on January 24, 2017 (Agenda Item# 16D2). The actual amount received is $22,179 more than the original award; a budget amendment is required to recognize the additional funds received. In addition to the distribution increase, revenue income in the amount of $541,243.03 was earned between July 01, 2016 thru June 30, 2017, which is comprised of program income received through interest and loan repayments. Use of SHIP 2016-2017 Funds Objective Original Award Counseling Funds Increased Funding Program Income Total Funding Administration $218,356.80 $2,217.90 $27,062.15 $247,636.85 Construction Strategy $448,048.20 $19,961.10 $155,045.00 $623,054.30 Owner Occupied Rehab $655,042.00 $0.00 $161,184.00 $816,226.00 Counseling Funds $49,377.00 $0.00 $0.00 $49,377.00 Rental Rehab $268,742.00 $0.00 $56,253.00 $324,995.00 Rental Acquisition $336,042.00 $0.00 $74,040.88 $410,082.88 Rental Development $257,337.00 $0.00 $67,658.00 $324,995.00 Total SHIP Funds Available $2,183,568.00 $49,377.00 $22,179.00 $541,243.03 $2,796,367.03 FISCAL IMPACT: The budget amendment recognizes $22,179 in SHIP distribution, of which 10% will be used as Administrative funds. The budget amendment also recognizes $541,243.03 in program income, of which 5% will be used as Administrative funds. All funds are available in SHIP Grant Fund 791, Project 33467. The proposed action does not have an impact on the General Fund. LEGAL CONSIDERATIONS: This item has been approved for form and legality and requires a 16.D.2 Packet Pg. 559 10/24/2017 majority vote for Board approval. -JAB GROWTH MANAGEMENT IMPACT: Acceptance of these funds will allow the County to expand affordable housing opportunities for its citizens and further the goals of the Housing Element of the Collier County Growth Management Plan. RECOMMENDATION: To approve and authorize the SHIP budget amendment in the amount of $563,422.03. Prepared by: Lisa N. Carr, Grants Coordinator, Community and Human Services Division 16.D.2 Packet Pg. 560 10/24/2017 COLLIER COUNTY Board of County Commissioners Item Number: 16.D.2 Doc ID: 3860 Item Summary: Recommendation to authorize a Budget Amendment increasing the FY 2016- 2017 State Housing Initiative Partnership Program allocation by $22,179 and recognize program income received in the amount of $541,243.03 for SHIP FY 2016-2017. Meeting Date: 10/24/2017 Prepared by: Title: Grants Coordinator – Community & Human Services Name: Lisa Carr 10/02/2017 4:50 PM Submitted by: Title: Division Director - Cmnty & Human Svc – Public Services Department Name: Kimberley Grant 10/02/2017 4:50 PM Approved By: Review: Community & Human Services Kristi Sonntag Additional Reviewer Completed 10/02/2017 5:44 PM Community & Human Services Leslie Davis Additional Reviewer Completed 10/03/2017 10:35 AM Community & Human Services Maggie Lopez Additional Reviewer Completed 10/05/2017 11:50 AM Operations & Veteran Services Sean Callahan Additional Reviewer Completed 10/05/2017 12:36 PM Public Services Department Kimberley Grant Additional Reviewer Completed 10/05/2017 2:48 PM Public Services Department Joshua Hammond Level 1 Division Reviewer Completed 10/09/2017 1:28 PM Grants Erica Robinson Level 2 Grants Review Completed 10/10/2017 8:28 AM Public Services Department Steve Carnell Level 2 Division Administrator Review Completed 10/10/2017 10:22 AM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 10/11/2017 11:40 AM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 10/11/2017 2:17 PM Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 10/11/2017 5:01 PM Budget and Management Office Ed Finn Additional Reviewer Completed 10/12/2017 12:39 PM Grants Therese Stanley Additional Reviewer Completed 10/12/2017 6:03 PM County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 10/16/2017 7:24 AM Board of County Commissioners MaryJo Brock Meeting Pending 10/24/2017 9:00 AM 16.D.2 Packet Pg. 561