Affordable housing development efforts are a top priority of a five-year proposal created by city of Springfield staff for U.S. Department of Housing and Urban Development funding.
Springfield receives HUD funding every year, and city staff is required to submit a consolidated plan that outlines its anticipated use of the funding over a five-year period, said city grants administrator Bob Jones. The plan for 2020-25 is awaiting Springfield City Council approval.
For Fiscal 2020, which begins in July, Jones said the city is set to receive almost $2.6 million in HUD money. The funding comes in the form of two grants: the HOME Investment Partnerships Program and the Community Block Development Grant. Jones said the consolidated plan is drafted to focus all of the roughly $1.05 million in HOME funding to affordable housing efforts.
“Affordable housing took home the prize,” Jones said, adding an additional $1 million in income from loans issued through the program each year will be slated for the housing efforts.
Jones said anyone can apply for the affordable housing funding to build or rehabilitate a home, but the applicant must agree to maintain the property and rent the housing unit to low-income individuals.
The consolidated plan also focuses on funding for nonprofits, which is capped at 15% of the CBDG funding per HUD restrictions, and economic development efforts.
Jones said he anticipates council will pass the plan without modifications after its second public reading.
The first public hearing for the plan was scheduled for March 23, but the council meeting was canceled due to the coronavirus concerns. The agenda is postponed to the next planned council meeting on April 6. Because of the delay, Jones said the city may not make the May submission deadline and is appealing to HUD for an extension into July.
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