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HomeMy WebLinkAbout~Master - Funding commitment to support the Story County Housing Trust Fund Task Force RESOLUTION NO. 17-512 RESOLUTION APPROVING SUPPORT OF STORY COUNTY HOUSING TRUST FUND TASK FORCE FOR THE CITY OF AMES WHEREAS, Story County is one of the few counties remaining in the state of Iowa that has not formed a housing trust fund; there is, therefore, a substantial funding pool that has not been accessed; and, WHEREAS, the Story County Housing Trust Fund Task Force (SCHTF) is preparing an application for recognition as a county-wide housing trust fund with the Iowa Housing Trust Fund (IHTF), which is managed by the Iowa Finance Authority; and, WHEREAS, to qualify for trust fiord status (which complements existing CDBG programs), SCHTF is required to: (1) incorporate; (2) obtain non-profit status; (3) establish an inaugural Board of Directors; (4) assess the types of housing assistance eligible for finding through the fiord; (5) determine how the funding will be distributed (loan or grant); and (6) determine how the fimds will be managed with accountability(likely shared staff with another trust fund); and, WHEREAS, the SCHTF has completed the first three requirements, and the inaugural Board members will be entrepreneur Steve Ringlee, First National Bank's Erik Bunker, Ames City Council Member Amber Corrieri, City of Huxley Mayor Craig D. Henry, Ames Chamber of Commerce's Brenda Dryer, Youth & Shelter Services Hope Metheny, and housing service provider client Shelly Jaspering; and, WHEREAS, the SCHTF is actively working with Story County and the municipalities within Story County to identify their specific needs; the areas of need could include rental assistance, fimding for new trailer-style homes, and rehabilitation of existing housing stock; and, WHEREAS, a community match of$50,000.00 is required as a portion of the SCHTF application to the IHTF; and, WHEREAS, the community match of($50,000.00) is pro-rated across Story County based on available population figures; SCHTF is requesting fiscal support from Story County and the municipalities within Story County for the application; and, WHEREAS, on February 14, 2017, the Ames City Council voted to add $68,000 for a two-year commitment of finding (2016/17 and 2017/18) to support the Story County Housing Trust Fund Task Force from the 2016/17 General Fund balance. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that a total of$68,000 for a two-year commitment of funding (2016/17 and 2017/18) from the 2016/17 General Fund balance to support the Story County Housing Trust Fund Task Force is hereby reaffnned. ADOPTED THIS 17" day of August, 2017. " l!14U/� 1 . f- Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Betcher Seconded by: Gartin Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 17th day of August, 2017.