File #: ID 2024-329    Version: 1 Name:
Type: Consent - Resolution Status: Passed
File created: 10/1/2024 In control: Regular City Commission Meeting
On agenda: 10/16/2024 Final action: 10/16/2024
Title: RESOLUTION - APPROVING AN AGREEMENT BETWEEN BROWARD COUNTY AND CITY OF MARGATE FOR FUNDING AND ADMINISTRATION OF HOME PROGRAM FUNDS FOR HOMEBUYER PURCHASE ASSISTANCE FOR FISCAL YEAR 2023-2024; PROVIDING FOR AN EFFECTIVE DATE
Attachments: 1. RESOLUTION, 2. AGREEMENT

 

TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     October 16, 2024

 

 

Title

RESOLUTION - APPROVING AN AGREEMENT BETWEEN BROWARD COUNTY AND CITY OF MARGATE FOR FUNDING AND ADMINISTRATION OF HOME PROGRAM FUNDS FOR HOMEBUYER PURCHASE ASSISTANCE FOR FISCAL YEAR 2023-2024; PROVIDING FOR AN EFFECTIVE DATE

 

Body

 

 

BACKGROUND:                     As a member of the Broward County HOME Investment Partnerships Program Consortium, the City of Margate receives an annual allocation to be used for purchase assistance. This Agreement provides for Broward County to continue administration of the City’s HOME funding, in the amount of $139,649, for fiscal year 2023-2024. The maximum amount a low or very-low-income household can receive is $50,000 towards the purchase of a home in Margate.

 

 

 

RECOMMENDATION:                     For approval.

 

 

FISCAL IMPACT:                     All program costs are grant funded.

 

 

CONTACT PERSON:                     Cale Curtis, City Manager