Title
Department of Community Resources FY2025 HOMES Interlocal Agreements
Action
ACTION:
1) Adopt Resolution approving the Fiscal Year 2024-2025 Helping Out Mecklenburg's homeowners with Economic Support (HOMES) Interlocal Agreements between Mecklenburg County, City of Charlotte, and Town of Davidson
2) Amend the Fiscal Year 2024-2025 Annual Budget Ordinance to decrease revenue and expenses in the amount of $1,516,236 from the City of Charlotte in the General Fund (0001) in the Department of Community Resources
3) Amend the Fiscal Year 2024-2025 Annual Budget Ordinance to recognize, receive, and appropriate an increase in the revenue and expenses in the amount of $17,200 from the Town of Davidson to the General Fund (0001) in the Department of Community Resources
Staff Contact: Lonnie Parker, Director of Operations, Department of Community Resources
Presentation: No
BACKGROUND/JUSTIFICATION:
The Department of Community Resources (DCR) manages the HOMES Program that provides economic support to residents with low to moderate income in retaining their homes. The Fiscal Year 2024-2025 DCR HOMES Program includes partnerships with the City of Charlotte and the Town of Davidson. The interlocal agreements put in place the terms that Mecklenburg County, City of Charlotte, and Town of Davidson agreed. Mecklenburg County will return $1,516,236 to the City of Charlotte and the Town of Davidson will transfer $17,200 to Mecklenburg County for use in the HOMES Program. This program aligns with the Board Priority of Housing Insecurity.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
1) A decrease in Fiscal Year 2024-2025 General Fund (0001) revenue and associated expenses in the amount of $1,516,236 for the Department of Community Resources
2) An increase in Fiscal Year 2024-2025 General Fund (0001) revenue and associated expenses in the amount of $17,200 for the Department of Community Resources