Housing Program Highlights (Cont.)

 Cliffmore Park Apartments submitted an application for financing to build 72 new apartments for age 55+

 $3,075,462 HOME funds available

 $200,000 Housing Opportunities for Persons with AIDS (HOPWA) funds available

 $4,000,000 ARPA funds are also allocated for this activity

HOPWA Tenant Based Rental Assistance (TBRA) & Support Services

TBRA provides a subsidy to HOPWA-eligible households in a unit of their choice and any needed support services. Short-term rent, mortgage, and utility (STRMU) assistance provides stabilization intervention to currently housing HOPWA-eligible households.

 RFQ was posted with two responses received

 Staff recommended and City Council approved to enter into contract with the Robeson Co. Health Dept. for the Dogwood Health Care Network to become Project Sponsor on behalf of the City for management of these activities

 $534,528 budgeted

Homebuyer Assistance

Eligible low- and moderate-income first-time homebuyers may receive a subordinated loan up to $20,000 to assist with down payment or closing costs.

 Information workshops held for Lenders and Realtors to educate about the new program

 City staff participated in the Realtor Rally held at the Expo Center to educate area Realtors about the available down payment assistance program

 No funds expended; $168,000 budgeted

Homebuyer Education

First-time homebuyers can complete the HUD approved, 8- hour homebuyer education course to ensure that they are ready to acquire housing and sustain homeownership. Workshop topics include budgeting, credit repair, mortgage financing and post-closing homeownership responsibilities.

 Homebuyer workshops facilitated by Kingdom CDC and held monthly at FTCC Center for Business & Industry building

 59 participants served during this first quarter

 $1,800 expended; $21,993 CDBG funds remain available

Fayetteville Metropolitan Housing Authority (FMHA) Homeownership

The City of Fayetteville will partner with the Fayettevile Metropolitan Housing Authority (FMHA) and qualified renters to help them become homeowners. At the end of the longterm process each house will be converted from public to private ownership and added back to the tax roll.

 Program currently under development

 $500,000 is budgeted for this activity