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TO: Mayor Richard C. Irvin
FROM: Chris Ragona, Community Development Manager, Community Development Division
DATE: December 10, 2021
SUBJECT:
A Resolution authorizing approval of Development Agreement HOME-2021-02 and CDBG-2021-13 between the City of Aurora and Visionary Ventures to provide HOME Investment Partnerships (HOME) and Community Development Block Grant (CDBG) funding to develop the properties of 100 Oak Avenue and 631 S. Lake Street for the purpose of providing affordable housing and a public health facility in the amount of $2,900,000 in Home Investment Partnerships Program (HOME) funding and $600,000 in Community Development Block Grant (CDBG) funding.
PURPOSE:
Staff requests authorization of Annual Action Plan Substantial Amendment 2021-#4 to reallocate prior and current year resources for Projects HOME-2021-02 and CDBG-2021-13 - Fox Valley Apartments Development.
BACKGROUND:
The City's 2021 Annual Action Plan was approved by City Council on February 9, 2021, R21-022. This proposed Substantial Amendment is required by the Department of Housing and Urban Development (HUD) to reallocate prior and current year resources. This proposed Substantial Amendment's prior and current year resources were previously approved by City Council as follows: November 24, 2015, R15-322; November 22, 2016, R16-367; January 9, 2018, R18-005; January 22, 2019, R19-019, January 28, 2020, April 28, 2020, R20-091; August 11, 2020, R20-162, R20-016; and February 9, 2021, R21-022. In accordance with HUD requirements, a 30-day public comment period was established for 11/24/2021 to 12/27/2021 and a public hearing was held on 12/15/2021. There were not any public comments. (Please see public notice, Exhibit 1 and Public Hearing minutes, Exhibit 2).
DISCUSSION:
Staff requests authorization of Annual Action Plan Substantial Amendment 2021-#4 to provide HOME Investment Partnerships Program (HOME) and Community Development Block Grant (CDBG) program funding for the ...
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