HomeMy WebLinkAbout~Master - Story County Housing Trust RESOLUTION NO. 18-634
RESOLUTION AUTHORIZING PAYMENT TO
STORY COUNTY HOUSING TRUST
FOR THE CITY OF AMES
WHEREAS, in the FY 2017/18 Budget adjustment process, the City Council included
$68,000 for the Story County Housing Trust(SCHT),and these funds were a two-year commitment
for the Story County Housing Trust; and,
WHEREAS, there is no agreement outlining the expectations for the receipt of these funds
and staff has now received a request to draw down the second of these two payments; and,
WHEREAS, City staff has requested that Story County provide an update of the activities
and accomplishments of the Story County Housing Trust; and,
WHEREAS, listed below are the accomplishments/achievements for 2017 and 2018:
• Task Force received certification as a Local Housing Trust Fund through the
State Housing Trust Fund
• Retained Polk County Housing Trust Fund to provide administrative services
and held 1st annual meeting September 2017; elected a governing body
according to the Bi-law and Articles of Incorporation
• Applied for first State Housing Trust Fund(SHTF) grant- October 2017
• December 2017 awarded the maximum grant available from State Housing
Trust Fund of$239,313.00
• FY2017 matching funds required by the State Housing Trust Fund grant
received nearly$48,600.00 public(Includes City of Ames$34,000.00 grant)
and $12,500.00 private donations
• FY2018 required matching funds pledged a little over$60,000.000(Includes
City of Ames $34,000.00 grant)
• Story County Housing Trust awarded $185,000.00 in Owner-Occupied
Repair grants to six organizations to provide repairs for homeowners with
60% or less or area median income
• Owner-Occupied Repair contracts issued and projects started throughout the
Story County
• State Housing Trust Fund grant application submitted for the maximum
allocation of$216,330.00
• FY2019 required matching funds needed is$54,000.00 with pledges received
of nearly$48,000.00 (Includes the City of Ames $35,000.00 grant)
WHEREAS,in FY 2018/19,the Council has allocated$34,870 for the Story County Housing
Trust, and a Contract outlines the requirements for the funds to be drawn down; therefore,if Story
County Housing Trust meets the terms of the Contract in this fiscal year, it may request funds and
City staff may pay them without further action from the City Council.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the payment of$34,000 for 2017/18 is hereby authorized to the Story County Housing Trust.
ADOPTED THIS 27`h day of November, 2018.
Diane R. Voss, City Clerk John . Haila, Mayor
Introduced by: Beatty-Hansen
Seconded by: Gartin
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 27' day of November, 2018.