Grantee: Grant: Broward County FL B-08-UN-12-0002 October 1 2014 thru December 31 2014 Performance Report 1
Grant Number: B-08-UN-12-0002 Grantee Name: Broward County FL Grant Award Amount: $17767589.00 LOCCS Authorized Amount: $17767589.00 Total Budget: $22467589.00 Obligation Date: Contract End Date: 03/05/2013 Grant Status: Active Estimated PI/RL Funds: $4700000.00 Award Date: Review by HUD: Reviewed and Approved QPR Contact: Terri Schuler Disasters: Declaration Number NSP Narratives Areas of Greatest Need: Broward County Neighborhood Stabilization Program (NSP) has prioritized funding to those non-nsp entitlement municipalities and unincorporated areas with the greatest percentage of home foreclosures and subprime loans those areas most likely to experience a significant rise in the rate of home foreclosures and those communities with the highest concentration of moderate to low income households. The intent of this approach is to disperse funding across the County's smaller municipalities and unincorporated areas in a fair and equitable manner based upon community need. Broward County will utilize census tracts to target specific areas for assistance. Distribution and and Uses of Funds: Broward County identified areas of need for its Neighborhood Stabilization Program (NSP) funding by first focusing upon the "Foreclosure and Abandonment Risk" index published by HUD. The County has selected and identified those census tracts located outside NSP entitlement communities which are most likely to be impacted by future foreclosures. Next the County utilized the actual existing foreclosure rates by census tract which was extracted from HUD data regarding the rates of foreclosure in the County. Finally the County will utilize existing maps that identify those census tracts with high concentrations of subprime loan products. In addition the County will focus only upon those census tracts which are "middle-moderate-low income eligible." The remaining eligible census tracts will then be prioritized according to the level of subprime lending and will represent a final tier of analysis when deciding where to expend NSP funds. Definitions and Descriptions: Blighted Structure: Under 9-J5 of the State Statutes a "blighted structure" is one where maintenance has been deferred and structure deterioration is evident. Section 18.86 (b) (2) of Broward County's Administrative Codes defines it further and states: That a "Blighted area" exists which is an area in which there is a substantial number (20% or more) of slum or deteriorating structures and conditions which endanger life or property. Affordable Rents: Affordable rental cost shall be determined by using the HOME Program rent chart for the current year as follows: Households at 50% area median income or below will pay a maximum of the Low HOME Rent Limit (with adjustment for the number of bedrooms) minus utility allowance. Households at 51-80% of area median income will pay a maximum of the High HOME Rent Limit (with adjustments for the number of bedrooms) minus utility allowance. Households at 81%-120% of area median income will pay a maximum of the Fair Market Rent (with adjustments for the number of bedrooms) minus utility allowance. All rental activities carried out by Broward County using NSP funds will remain affordable to income-eligible families for a period no less than thirty (30) years which exceeds the minimum standards set by 24CFR92.252(e). In addition Income Eligible Families whose income category 2
has changed at the time of lease renewal must pay rent according to limitations stated above. Description of how grantee will ensure continued affordability for NSP assisted housing: Broward County will require all recipients of NSP funding to execute a mortgage promissory note and a declaration of restrictive covenants. These documents will be recorded in the Public Records and are enforceable mechanisms to insure continued affordability. Description of housing rehabilitation standards that will apply to NSP assisted activities: Broward County will utilize its existing housing rehabilitation standards for NSP funded projects. These standards are included in Broward County's substantial change for NSP. Low Income Targeting: Broward County will set-aside $5 million of its NSP allocation for the redevelopment of foreclosed single and multifamily rental properties and single-family properties for resale to be rented and sold specifically to households whose incomes do not exceed fifty percent (50%) of area median income. Acquisition and Relocation: Broward County plans on pursuing limited NSP funded demolition or conversion of low- and moderate-income dwelling units. Public Comment: Public Notice was published in the Fort Lauderdale Sun-Sentinel on October 28 2008. A 15 day public comment period started on the date of publication with no public comments recieved. Overall Total Projected Budget from All Sources Total Budget Total Obligated Total Funds Drawdown Program Funds Drawdown Program Income Drawdown Program Income Received Total Funds Expended Match Contributed This Report Period To Date N/A $22783973.01 $22183973.01 $22399830.80 $20965399.21 $16024630.53 $4940768.68 $5098905.98 $95907.98 $21063648.96 $131751.45 Progress Toward Required Numeric Targets Requirement Required Overall Benefit Percentage (Projected) Overall Benefit Percentage (Actual) Minimum Non-Federal Match Limit on Public Services $2665138.35 Limit on Admin/Planning $1776758.90 Limit on State Admin To Date 0.00% 0.00% $131751.45 $1195941.29 $1195941.29 Progress Toward Activity Type Targets 3
Progress Toward National Objective Targets National Objective Target Actual NSP Only - LH - 25% Set-Aside $4441897.25 $6498216.64 Overall Progress Narrative: Overall Broward County's NSP1 Program has acquired 61 single-family homes (56 in Activity 001 LMMI 4 in Activity 008 LH25 and 1 in Activity 012 LH25) completing rehabilitation and selling or leasing for ownership 61 to eligible households thirteen (14) to low income households (Activity 002 LMMI Activity 012 LH25 and Activity 009 LH25). In addition the City of Hallandale Beach has acquired 4 duplexes containing eight (8) units; and plans to redevelop the property with seven (7) new townhomes (Activity 026). Overall Broward County's NSP1 Program has acquired 11 single and multifamily rental properties containing 77 units and has completed rehabilitation on 61 of these units renting 61 units to eligible households 51 to low income households (Activities 013 and 015-022 LH25) and ten (10) to moderate income households (Activities 014 and 023 LMMI). The City of North Lauderdale has also given down payment assistance to 23 households ten (10) to low income households (Activity 003 LMMI) and the City of Hallandale Beach has completed demolition of five (5) properties (Activity 007). BAND has also demolished a blighted home and redeveloped the property with a single-family home (Activity 012 LH25). Overall Broward County has expended $20967741.08 an amount (grant plus program income) greater than its total grant amount of $17767589. The County has also met its 25% set-aside grant amount requirement for low income households. Project Summary Project # Project Title This Report Period To Date Program Funds Drawdown Project Funds Budgeted Program Funds Drawdown 001 Residential Acquisition $6635242.16 $5139998.65 002 Residential Rehabilitation $4983368.94 $2493976.26 003 Financing Mechanism (Soft-Second Mortgage) $754324.00 $633849.70 004 Program Planning and Administration $1844004.72 $1049738.60 005 Residential Demolition $25000.00 $25000.00 006 Housing Redevelopment $849074.50 $392604.34 007 Multi & Single Family Residential Acquisition & Rehab For $5973953.69 $5332970.20 008 Multifamily Acquisition & Rehab for Resale $1119005.00 $956492.78 4
Activities Project # / Title: 004 / Program Planning and Administration Grantee Activity Number: Activity Title: Activitiy Category: Administration Project Number: 004 Projected Start Date: 03/01/2009 Benefit Type: ( ) National Objective: N/A 006 Administration Activity Status: Under Way Project Title: Program Planning and Administration Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community Overall Total Projected Budget from All Sources Total Budget Total Obligated Total Funds Drawdown To Date $1844004.72 $1844004.72 $1776758.00 $1195941.29 Program Funds Drawdown $1049738.60 Program Income Drawdown $146202.69 Program Income Received Total Funds Expended Broward County Housing Finance and Community Oct 1 thru Dec 31 2014 N/A $21607.98 $21607.98 $1220178.02 $1220178.02 Match Contributed Activity Description: Administrative and planning costs associated with the NSP grant. Location Description: Countywide with administrative offices located at Broward County Housing Finance and Community Development Division 110 NE 3rd Street Fort Lauderdale FL 33301. Activity Progress Narrative: PROGRAM ADMINISTRATION FOR THIS QUARTER 5
Accomplishments Performance Measures No Accomplishments Performance Measures found. Beneficiaries Performance Measures No Beneficiaries Performance Measures found. Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Total Other Funding Sources Amount Project # / Title: 007 / Multi & Single Family Residential Acquisition & Rehab For Grantee Activity Number: Activity Title: 024 Multifamily Acquisition & Rehab: Property 10 Activitiy Category: Rehabilitation/reconstruction of residential structures Project Number: 007 Projected Start Date: 07/01/2010 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside Activity Status: Under Way Project Title: Multi & Single Family Residential Acquisition & Rehab For Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: BHP Community Land Trust Inc. Overall Oct 1 thru Dec 31 2014 To Date Total Projected Budget from All Sources N/A $1046085.00 Total Budget Total Obligated Total Funds Drawdown $1046085.00 $1046085.00 $896746.32 Program Funds Drawdown $680880.81 6
Program Income Drawdown $215865.51 Program Income Received Total Funds Expended $74300.00 BHP Community Land Trust Inc. $971046.32 Match Contributed Activity Description: This activity seeks to reverse the negative effects of foreclosed or abandoned rental properties upon Broward County neighborhoods while providing housing options for those households at or below 50% of area median income. This activity will provide funding for acquisition and rehabilitation of this property. The long-term affordability requirement of rental property assisted under this strategy is thirty (30) years. All housing units assisted will be rehabilitated to meet local housing codes as well as County rehabilitation standards. Upon completion of rehabilitation the housing units will be rented to low income households. A sixteen (16) unit property was acquired and rehabilitated at 2417 NW 9th Avenue Wilton Manors Florida 33311. All the units are designated to be rented to low income households under this activity. Location Description: $74300.00 One (1) sixteen (16) unit property located at 2417 NW 9th Avenue Wilton Manors Florida 33311. $971046.32 Activity Progress Narrative: MULTI FAMILY UNIT DEVELOPMENT FEE FOR THE FOLLOWING ADDRESS: 2417 NW 9TH AVENUE FORT LAUDERDALE Accomplishments Performance Measures This Report Period Total # of Properties 0 Cumulative Actual Total / Expected Total 1/1 This Report Period Total # of Housing Units 0 # of Multifamily Units 0 Cumulative Actual Total / Expected Total 16/16 16/16 Beneficiaries Performance Measures No Beneficiaries Performance Measures found. Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found 7
Other Funding Sources No Other Funding Sources Found Total Other Funding Sources Amount 8