HomeMy WebLinkAbout970544.tiffRESOLUTION
RE: APPROVE DOWN PAYMENT ASSISTANCE APPLICATION TO COLORADO
DIVISION OF HOUSING AND AUTHORIZE CHAIR TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with the Down Payment Assistance
Application from the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of the Weld County Housing Authority, to the
Colorado Division of Housing, with terms and conditions being as stated in said application, and
WHEREAS, after review, the Board deems it advisable to approve said application, a
copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, ex -officio Housing Authority Board, that the Down Payment Assistance
Application from the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of the Weld County Housing Authority, to the
Colorado Division of Housing be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said application.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of March, A.D., 1997.
Weld County C
BY.
APP
Deputy Cler t. the :oard
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
G/eorge E. Baxter, Chair
nce L. Harbert, ro-Tem
Dale K. Hall
-1C( , t A /4_,' <, C
Barbara J. Kirkmeyer
Fxc:i IsFn
W. H. Webster
970544
HA0017
Application
Colorado
Loan/Grant
for
Division
Assistance
of Housing
1997
Date Received
Project #
AMOUNT OF FUNDING REQUESTED
$ 105,600 Loan X Grant
APPLICATION INFORMATION ;.
Applicant (Name and Address)
Weld County
PO Box 758
Greeley, CO 80632
Chief Elected Official or Executive Director
George E .Baxter
Phone No 356-4000 ext 4200.
Federal ID No.
84--6000813
Fax No.353-1964
Title Chair
Address Same as above
Designated Contact Person for Application
Jim Sheehan
Title Director, WCHA
Phone No. 356-4000 ext 4401
Fax No. 356-4000 ext 4414
Address
Weld County Housing Authority, PO Box A, Greeley, CO 80632
TYPE'. OF ORGANIZATION _
TYPE OF PROJECT
X
Municipality/County/Consortia
Rental
Nonprofit (501(c)] (send copy of IRS determination)
X
Homeownership
CHDO (Community Housing Development Organization)
Rental Assistance
Public Housing Authority
Group Home or Shelter
Other (Specify)
PROJECT DESCRIPTION
TYPE OF PROJECT ACTIVITIES (Check all of the activities involved in your project)
New Construction
Rehabilitation
Tenant Based Rental Assistance
Infrastructure Improvements
Program Administration
Acquisition
X
First Time Home Buyer Program
Other
APPLICANT MANAGEMENT CAPACITY/PROJECT PERSONNEL EXPERIENCE
(Use additional pages if necessary) See Attachment 18
Application - 1
970544
Grant Administrator:
Jim Sheehan , Director, Weld County Housing Authority
Project Manager:
Jim Sheehan , Director,
Weld County Housing
Authority
Project Coordinator:
Jim Sheehan , Director,
Weld County Housing
Authority
Fiscal Manager:
Jjim Sheehan, Director
Weld County Housing
Authority in
coordination with Weld
County Accounting
Division
Project Engineer:
NA
Project Architect:
NA
Application - 2
970544
Consultant:
NA
Project Owner:
NA
Project Developer:
NA
Property Manager:
NA
PROJECT LOCATION: Weld County
exclusive of the City of Greeley,
Colorado
W
City
County Weld
Application - 3
970514
SITE; CONTROL STATUS (chet
one)
(send documentation)
OTHER (Explain)
OWNED
OPTIONED
LEASED
ZONING STATUS:
(send documentation)
NA
Application - 4
970514
Project Description Narrative
Weld County the City of Greeley and United Way joined together in 1992 and formed the
Weld County Homeless Housing Task Force. From this group, the Comprehensive 'Housing
Development Plan was produced as the planning strategy to address four key areas relating to
housing:
1 ► Emergency Housing
2) Transitional Housing
3) Migrant Housing
4) Long Term Housing
While the committees focused on different areas, the basic intent, among all of the
committees, was to develop alternatives for addressing housing needs among low and
moderate income individuals and families.
One of the recomendations encompassed in the Comprehensive Housing Plan was to create a
housing development corporation which could promote home ownership opportunitites
through out the county. The High Plains Housing Development Corporation was created in
1995 to begin this task. In 1995 High Plains Housing Development Corprotation received a
CDBG grant through the City of Greeley to begin a home ownership program. The approach
created through the High Plains Housing Development Corporation provided down payment
assistance for first time homebuyers. The average loan made through this program has been
$4,000. Since 1995 24 loans have been provided for down payment assistance. The
primary drawback on this program has been that, due to the funding source coming from the
City of Greeley, the program has not been available county -wide.
This request would expand the down payment assistance program beyond the City of
Greeley, to the balance of Weld County. We are proposing to provide down payment
assistance for 24 households in Weld County during a twelve month period at an average
costs of $4,000 per household.
High Plains Housing Development Corporaation will be used as the adminstering agency to
determine the eligibility of the applicants for the program. Once an applicant is determined
eligible for the program, a 5 per cent interest rate loan will be provided. The term of the loan
is 10 years.. All payments will be generated through the Weld County Finance system. A
Deed of Trust will secure the loan.
All loans will be managed by Weld County Housing Authority.
Application - 5
970514
Application - 6
OTHER PROD
ECT INFORMATION ?
What energy efficient measures have been included in the project design?
No applicable to this project since potential home owners will be selecting their own units.
What additional design work must still be completed?
NA
Have you included ADA/Section 504/state access requirements in your YES _ NO
cost estimates?
Application - 7
9705'
If not, why not?
Not applicable for down payment assistance.
Complete the Davis -Bacon wage rate exemption checklist (copy on page 15 of Attachments).
If Davis -Bacon wages apply to the project
'include in the project co
Have any of the units received Rental Rehabilitation Program Funds?
No
Application - 8
9705 "4
Describe any in -kind contributions by type and value in support of this project. Include in the
Project Budget and Sources and Uses the cash value of the in -kind contributions. ,
Weld County will assume the cost of administration of this project. Cost to be provided
include:
1. Staff time needed to complete all reports required by the State
2. Costs associated with generating payments to the lending institution
Weld County expects to contribute $1,000 toward the administration of the project.
What other funding alternatives have been explored? Describe the results.
An application was submitted to CARHOF, the Colorado Association of Realtors Housing
Opportunities Foundation Home Ownership Initiative, in December, 1997, for down payment
assistance for applicants in Weld County. The amount requested was $10,000. The
application is still pending.
Application - 9
970:4
Describe local commitment, and/or resistance, to the project. Also, describe efforts made to
build community support for the project and the results of those efforts.
The Weld County Board of Commissioners continue to be concerned about the ability of
families to become first time home buyers based on the currently high market conditions.
The average price of as home, based on the Weld County Board of Realtors is $124,000.
This has made it increasingly difficult for families to buy a home. The down payment
assistance program will provide an opportunity for those who otherwise qualify, with the
exception of not having the required down payment, the means to be able to become
homeowners.
The interest in the program is evident by the fact that High Plains has expended all of their
funding which was received from the City of Greeley's Community Development Program.
This program has been well received by the realtors and the mortgage/lending community
alike..
During the Home and Garden Show, held March 1, 2nd, and 3rd, in Greeley, High Plains
sponsored an information booth for the general public. Based on inquiries from the
attendees, it became evident that there was a great deal of concern for the younger families
ability to become home owners. Our plans to extend the program beyond the City of Greeley
were well received.
Application - 10
9705,14
ECT MARKET INFO
RMATI
This project will be marketed to all realtors and mortgage lenders through out the County.
In addition, we will utilize the news and media to reach the public. The program w"ll also
be marketed to service organizations through out the County. During the week pf March
10, 1997, there were 99 single family homes for sale in Weld County, selling between
$80,000 to $100,000, according to the Multiple Listing, published by the Weld County
Board of Realtors.
Application - 11
9705t74
Describe project need.
Like the rest of the Front Range, the population of Weld County will continue to grow
during the next few years. From 1990 to 2000, the population is projected to grow by
approximately 24 per cent. In order to keep up with the projected growth, 10.3% more
housing units will be needed in Weld County. Wages traditionally tend to be lower than
other Front range counties. The population of Weld County tends to be under educated,
younger and poorer than other Front Range counties. Most of those jobs are in the service
field. and non durable manufacturing. While between 1989 through 1995 wages in
Colorado grew 23.62%, in Weld County wages grew 20.93.
Based on information provided by the University of Northen Colorado's Economics
Department, a variety of factors have contributed to the shortage of lower income homes
that would be attractive to first time home buyers. Some factors are exogenouswhile others
are internal to the Weld County. The external factors relate to the regulations of financial
institutions. Internally, the population has increased beyond the supply of affordable
housing, pushing the cost of housing Between 1980 and 1990 the median family income
lost purchasing power. In 1993 the interest rate declined to an all-time lo and has stayed
relatively low since that time. This made it possible for many to move toward home
ownership. But as the demand increased, so did the price of a home Form 1990 to 1996
the price of a home increased 78%, requiring a higher income in order to qualify for a home
loan. Compounding the problem is, while many homes are still being built, most of those
homes are not affordable to lower income persons.
Weld County, like most of the front range counties has seen the cost of home sky rocket
from 1990 to present. In 1990, the average sale price of a home in the Greeley area was
68,600. In 1996 the average price had jumped to $122,500. A family earning 80% of
median income can afford a home selling for approximately $89,000. Based on the real
estate market of Greeley and Weld County, the target population who will probably benefit
the most from this program will be households earning between 60 and 80 per cent of
median income. Those persons in that income category may include: school teachers,
auto mechanics, bank tellers, and fire fighters. Unless the family has assistance from family
or has been fortunate enough to save for the full amount of the down payment, it makes it
very difficult for persons at less than 80 per cent of median income to become home
owners.
Given the current real estate market, many families simply cannot afford the down payment.
This program provides an additional option to individuals and families who have made the
decision to become a homeowner. During the week of March 10, 1997, there were 99
single family homes for sale in Weld County, selling between $80,000 to $100,000,
according to the Multiple Listing, published by the Weld County Board of Realtors. Based
on this information, homes are available for persons at 80% of median income.
During the Home and Garden Show held March 1 through March 3, 1997, High Plains
Housing Development Corporation conducted a survey of Home ownership attitudes. Below
are the results of the survey.
Application - 12
970,r,‘9,1
RESULTS: Home and Garden Show Survey
9705:4
INTRODUCTION
As part of a needs assessment study on the costs of home-
ownership in Weld County, the Housing Authority and its subsidiary
High Plains Development Corporation, issued a survey to the general
population. The survey was given out during the weekend of
February 28 -March 2, at the Home and Garden Show, sponsored by the
Greeley Tribune.
The criteria for the sample population, was that participants
were renters and not home -owners. The total number of participants
that filled out the survey was 104. Although this was not a very
large number, it still can be used as an indicator as to some of
the issues about the cost of home ownership. In order to interpret
the results, it is important to look at each of the questions
separately by using frequencies, as well as the strengths and
weaknesses of some of the questions. Due to the number of
respondents(104), the actual number will be examined instead of the
percentages.
THE SURVEY
The survey was designed to look into whether
in Weld County, feel able to afford to become
owners, as well as what some of the barriers that
doing so. Respondents answered with the Likert
coded by the following:(1) Strongly Agree; (2)
Know; (4) Disagree; (5) Strongly Disagree.
or not citizen's
first time home -
prevent them from
Scale, which was
Agree; (3) Don't
Question #1- "It is a goal of mine to purchase a house in Greeley
or Weld County within the next two years."
Rationale- This question was designed to uncover the target
population for the High Plains Development Corporation's loan
assistance program. The question was designed to find out how many
people have it as their short-term and immediate goal to become a
home -owner.
Results- Of the 104 respondents, 59 responded that they Strongly
Agree(SA) and 24 Agreed (A). This means that of the 104
respondents, 83 did feel that it was a goal to buy a house in
Greeley and Weld County. This indicates that there is a
significant number of people who are interested in becoming home-
owners in Greeley and Weld County.
The median score was (1) which is in the Strongly Agree category.
Question #2- "The costs of buying a home in Greeley and Weld County
are within my income range."
Rationale- The question is designed to arrive at the heart of the
issue -the cost of buying a home in Weld County. This question was
placed second, in order to establish the focus of the survey.
Results- The results of this question, were more evenly distributed
than the first response. Seven people responded with (SA) and 24
97054'51
responded with (A), while 18 people marked Don't Know (DK).
However, 29 people marked the Disagree (D) category and 26 marked
the Strongly Disagree (SD) category. This suggests that over fifty
percent or 52.9%, do not feel that they have the income necessary
to buy a house. Whereas a smaller number of respondents- 31 felt
that they did have the income to become home -owners. There was a
significant number people (18) who may not be aware of the cost of
homes in Greeley and Weld County.
The median score was (4), is Disagree, which indicates that people
do not feel that the costs are within their income range.
Question #3 -"The costs of maintaining a home after purchase, are
within my income range."
Rationale- The rationale for this question was for respondents to
think beyond the initial purchase, as home -ownership is an ongoing
and expensive (ad)venture.
Results -The highest number of respondents (42) marked Agree; (10)
wrote Strongly Agree and (31) marked in the Don't Know category.
A smaller number of respondents (15) marked Disagree and (6) wrote
Strongly Disagree
Weaknesses -The question was too vague. Specifics such as repairs,
lawn and house hold items should have been mentioned. This may
have effected the results in the Don't Know category.
Median- The median score was (2.5) which suggests that participants
either agreed that they could afford maintenance costs or did not
know.
Question #4- "The costs of utilities(such as gas, electricity,
water etc.) are within my income range."
Rationale- This question was designed to provoke respondents into
thinking about additional costs other than maintenance.
Results- According to the results of this question, over one half
of the respondents felt that the cost of utilities were not a
barrier to them. Only 14 participants responded that they felt
that it was not within the income range. However, 64 respondents
felt that the costs of utilities were within their income range.
This is an indication that the costs of utilities may not seem like
a barrier to this group. A large number of respondents (26)
responded with Don't Know. This is probably a good indicator, in
that many renters are probably not aware of the costs, as it may
seem much higher than people pay for apartments.
Weaknesses- The question probably could have been made into one big
question, with the previous one for the subject of maintenance.
The median score for this question was (2), which suggests that
participants agreed that they could afford utilities. This
970544
suggests that the costs of utilities may not be a barrier.
Question #5- "There are many available homes within my earning
range."
Rationale- The question looks into availability of homes within the
participants income range. This is an important question because,
it addresses the thoughts that respondents have towards the
opportunities of becoming a home -buyer. Many respondents have felt
capable of buying a home, however, they may not believe that many
exist within their income range.
Results- Of 104 respondents 4 marked strongly agree, while 16
marked agree. A large number (23), marked in the Don't Know
category. However, the largest number of respondents (37),
Disagreed, with the second highest number marking in the Strongly
Disagree category. This indicates that 58.7% do not feel there are
many available homes within their salary range. This could
indicate that there does exist a substantial group within Greeley
and Weld County who do not feel that they have access to home-
ownership. Or feel that they have limited access.
The median score about availability was (4), which suggests that
participants did not feel that there were many available homes
within their income range.
Question #6- "The increase in housing costs over the past five
years have been comparable to the increases in my income."
Rationale- This question addresses one of the most important issues
that this survey is trying to measure as the costs of housing has
increased dramatically compared to the wages.
Results- The results did indicate the issue that we are trying
uncover, as only four respondents marked Strongly Agree and 12
marked Agree, with 16- Don't Knows. A considerable number
respondents (40) marked Disagree, with 31 marking in the Strongly
Disagree catagories. This indicates that a great majority of
respondents did not think that their incomes were increasing at the
same rate as the costs of homes.
Weakness- Perhaps the question would have been more effective for
the flow of the survey had it been placed before the previous
question.
The median score was (4), which is Disagree, suggests that people
did not think that incomes increased the same as housing costs.
Question #7- "The procedures necessary to qualify for a home loan
are easy to understand."
Rationale- The question looks into whether the process of
qualifying for a home loan is a barrier to home -ownership. Do
9705e':4
people understand the procedure necessary to qualify for a home
loan- and could it be a reason that people to not chose to y go
through the process.
Results- The results were as expected, as nine people wrote
Strongly Agree and 19 marked in the Agree category. The largest
number of respondents (32), were in the Don't Know category. An
equal number of respondents (22), answered both in the Strongly
Disagree and Disagree catagories. Due to the large number of
people in the answering with those responses serves as an indicator
that the loan process could be a barrier.
The median score was (3) which indicates that a large number of
people are not aware of the loan process. This question could be
used to support the need for an educational component.
Question #8- "I have the credit rating to qualify for a housing
loan."
Rationale- This question is designed to look at whether
participants have the financial history to be eligible for a home
loan. This could be a major barrier to a person who is interested
in a first time home.
Results- The results were equally distributed as 16 marked Strongly
Agree, 22 people marked Agree, 28 people marked Don't Know, 22
people marked Disagree and 16 marked Strongly Disagree. The fact
that the largest number of people were in the Don't Know category
serves to indicate that a significant number of respondents do not
know the procedures necessary to qualify.
The median score was (3), which suggests that respondents are not
sure whether their credit rating could be a barrier.
Weaknesses- This question can be considered too personal for some
respondents. Some of the respondents may not have answered
honestly, which can skew the results.
Question #9- "I have a lifestyle consistent with home -ownership."
Rationale- The reason why this question was placed was due to the
fact that home -ownership may not be within their lifestyle choice.
For example, many people may have other priorities such as travel
or entertainment costs that prevent them from becoming first time
home -owners.
Results- The results suggest that life-style choice may not be a
barrier to people, as 23 participants marked Strongly Agree and 38
marked Agree. Only nine people marked Disagree and seven marked
Strongly Disagree, with 26 answering Don't Know.
Weaknesses- This is another question that participants may have
felt too personal. Often times participants will answer with
9705t'
responses that reflect them in a positive light.
The median score was (2), which suggests that people did not feel
that their lifestyles were a factor.
RESULTS OF THE FIRST NINE QUESTIONS
The results of the first nine questions serve as an indication
that a segment of the population either can not or do not feel that
they have access to home -ownership. The barriers seem to be more
with the actual costs of houses, compared to the wages. It is the
cost of the house, that seems to serve as the initial barrier as
the costs of homes have increased so dramatically in the past five
years. Other suggested barriers, such as maintenance, utilities
and lifestyle do not appear to be as much of a factor. The
procedures such as the loan process and credit rating may also be
a barrier as participants indicated that both could be a factor
against buying a house.
Although the sample was only 104 people, it does appear that
there exists a sizeable population who could become first time
home -owners and have the interest in doing so. The results suggest
that the biggest barrier could be the initial costs of the home and
the confusion of the loan process. The information could be used
to justify the funding for a loan and educational program for Weld
County, such as High Plains provides.
DEMOGRAPHICS
The next set of questions dealt with the demogrophical
information to determine the make-up of the participants. The
demographics provided information into such factors as age, number
of children, and income, which could serve as both helping factors
and barriers. For example, one who makes $30,000 a year, may have
several children and a high rent. These could be barriers that may
prevent a person from becoming home -owners.
Questions #10-#11 asked the participants age and sex. The
ages were divided by decade 20-29; 30-39 etc. Forty-five
respondents were in their twenties, with 35 respondents in their
thirties. Fifteen participants were in their fifties and seven
were in their 50s.
Perhaps the biggest reason for the youth of the respondents,
is that the target population was renters. Renters, especially in
a college town such as Greeley, tend to be younger. Most of the
people at the Home and Garden Show tended to be home -owners.
Sixty-six of the respondents were female and 36 were male.
This could be due to the large number of women attending the event
compared to men. Although based on observation, it appeared that
more women attended the event than did men.
Question #12. "How many children do you support under 18?"
Rationale- The question focuses on children as a financial
9(0r--'.:4
obligation. If a person supports several children, that could bp a
financial barrier that prevents home -ownership.
Results- The results indicate that child support may not be a
barrier to home -ownership. Thirty-seven respondents did not have
children, while fifty people had 1-2 children and Fifteen
respondents had 3-4 children.
This could be due to the fact that fewer people are having
children. As well as the younger ages of the respondents.
Weaknesses- Perhaps a question to ask in addition to the number of
children, is one about marital status. This is due to the
increasing number of single families, which could be a big barrier
to home -ownership.
The median score was (2), which suggests that most of the
respondents have 1-2 children.
Question #13- " What is your ethnic background?"
Rationale- This question was placed to uncover the racial make-up
of the respondents. Are more Hispanics being locked out of home-
ownership, than their Caucasian counterparts.
Results- Of the respondents, 20 were Hispanic; 39 were European; 19
were Native Americans and 20 were listed as Other.
Weakness -
Many of the
Hispanic.
category,
listening.
a familiar
This question confused people about their heritage.
respondents who answered Native American were possibly
The fact that so many people answered in the Other
is probably due to the confusion of the European
That should have been called Caucasian, because it is
word.
The median
respondents
greater had
score was (2), which suggests that the majority of
were European. The number probably would have been
the variable been different.
Question #14, asked "How long have you lived in Greeley or Weld
County?". This question uncovered a fairly equal distribution for
those who are not long term residents. However, the largest number
of people (49) have lived there over ten years.
This distribution is not too surprising because Greeley is a
town with both a long term and stable population, as well as
transient college students and new residents to the area. The
distribution of the question reflected this.
The median score was (4), which indicates that participants are
long term residents of Weld County (8-10) years.
Question #15- "Do you currently rent or own?" This question may
not have been important because the target audience was renters.
Ninety people were renters.
Question #16- "If you rent, how much do you pay per month?"
Rationale- The question looks at the cost rents in Greeley and Weld
County. The costs of rents could also be a barrier to home-
ownership, as people spend a large percentage of their salaries
on rent. The lowest range for rent was under $250 and the high end
was $700. After speaking to apartment owners, this seemed to be a
good range for Greeley and Weld County.
Results- The results were fairly evenly distributed, however 31
people spent between $401-550 and 23 people spent between $551-700
dollars. Fifteen respondents spent over 700 dollars. This
indicates that the rents in Greeley and Weld County are increasing.
Weaknesses- This question should have been included with the first
set. Respondent could have been asked if they felt that the rents
were a barrier to home -ownership.
The median score was (3), which indicates that the average rent for
the participants is between $401-550.
Question #17- "How much would you expect to pay for a house."
Rationale- This question is designed to find out if people have
realistic goals about buying a house. The costs may be beyond
their actual expectations.
Results- The majority of people (43), marked in the $85-100,000
range. Ten people marked in the $115-130,000 range -which is still
under the average cost of a home. This indicates that the majority
of respondents would only expect to pay the costs for a modest
"starter home".
The median score was (3), which suggests that most people would
expect to pay in between $85,000-100,000 for a house. This amount
is still well below the average costs for a home.
Question #18- "How much per month, would you expect to pay for a
house.
Rationale- The range for monthly house payments is under $500 to
over $950. This range was determined by speaking to both Jim
Sheehan and Tom Teixeira, and included increments of $150. This
was to determine whether or not people would realistically afford
a home.
Results- A large number of respondents answered in the lower range,
as 40 participants marked in the $501-650 range and 36 participants
marked the $651-800 range. Fourteen people could only pay under
$500 a month. This suggests that the rising costs the primary
barrier to home -ownership, as people may not have the resources to
be home -owners.
97or14
The median score for this question was (2), which is between $501-
650
Question #19- "What is your family income?"
Rationale- The question is self explanatory. The range is from
under $25,000-$55,001. This is due to the fact the average income
in Greeley and Weld County is about $31,000. Residents who earn
more than $55,000 are probably home -owners already. Those who earn
under the amount, would not qualify anyway.
Results- A large number of respondents (34), may not qualify as
they earn under $25,000. Thirty-one people earn between 25,001-
35,000 and would probably be barely within the range. Twenty
respondents earned between 35,001-45,000, and 12 people earned in
the $45,001-55,000 range. Only three people earned above that
amount. Four people did not respond to the question, which was a
lower number than expected.
The median score was (2), which indicates that the average income
of participants was between $25,001-35,000. This range is just
below the average in Weld County.
Question #20 asked, "Who is your employer?" This is to uncover the
major employers of the participants. This is for fundraising
efforts by High Plains Development Corporation. The results are
attached.
Question #21- "How long have you worked at your current job?"
Rationale- One of the criteria that lenders use is employment
stability.
Results- The majority of participants have not worked in their jobs
for a long period of time. Twenty-nine people have been at their
jobs for less than a year, and twenty-eight people had been
employed 1-2 years. Nineteen people had been there for 3-4 years,
and seven people had been employed at their job for 5-7 years.
Only 12 people had been employed for over six years.
This could be due to the large student population in Greeley, as
well as recent growth.
The median score was (2), which indicates that the participants had
been with their employer for 1-2 years.
STRENGTHS and WEAKNESSES
The strengths of the survey is that it did uncover a
population that is in need of loan assistance. Even though there
were only 104 participants, a substantial number of people within
that group were interested in home -ownership. The survey could be
used to qualify the existence of a loans program in Greeley and
Weld County. Enough people, who may qualify for a home, displayed
interest in the loan program( Almost 50%). The survey also helped
970`. /1:''
establish that the costs of home -ownership in Greeley and Weld
County have created a situation in which more and more people are
being denied access into a stable home within Greeley.
Other weaknesses, not mentioned earlier, were the length of
the survey. One page would have been adequate, as some people did
not fill out the second page.
The locale of the table for the event was in a difficult
position. The placement was out of the control of the
organizations, so that was just luck. The location was at the very
front of the turnstile which set the table in front of the incoming
crowd. This was difficult because people were just walking in, and
were not amalgamated to their environment, as we asked them. This
could have contributed to some of the reluctance. It is
interesting to note, that a substantial number of people did not
want to take part in the survey. How much that had to do with
location is not known. question is designed to look at whether
participants have the financial history to be eligible for a home
loan. This could be a major barrier to a person who is interested
in a first time home.
9'70';4
How was need determined?
Need was determined by experience of the High Plains Housing Development Corporation's
down payment assistance program.
Information was provided by Ann Garrison, Economist for Weld Economic Development
Partnership and professor at University of Northen Colorado.
Additional information was provided by Giele and Associates Century 21.
Application - 13
970:3/.!:4
Describe how project/program will be marketed to the identified beneficiaries.
The program will be marketed through the County news and radio media and through the
lenders and real estate community through out the County
Since some of the families can be presumed to be monolinguel (spanish speaking only),
marketing material will be developed to reach those individuals and families.
Application - 14
970E;14
PRoJ
ECT BENEFICIARIES
Down Payment Assistance
for First-time Homebuyers
48
30
13
Descriptive Title of Proposed
Project Activity
Number of Persons That Activity Will Serve Direc)
Percentage of Median Income
Total
11O%-
81%
80%-
61%
60%-
51%
50% or
less
Describe method(s) by which the estimates of low and moderate income persons were
determined? Attach supporting documentation if necessary.
The information is based on actual individuals served through High Plains Housing
Development Corporation down payment asssistance program.
Application - 15
970`'x.4
Description of local selection process for beneficiaries
The selection process is based on the following criteria:
1. All households must meet income guidelines based on 80% of median income
2. Properties must be located within Weld County exclusive of the City of
Greeley, Colorado
3, Applicants must qualify for a mortgage based on established underwriting
criteria of the mortgagor.
Application - 16
9705e,"::4
FORM A - SOURCES AND USES OF FUNDS
NEW CONSTRUCTION (MULTI AND SINGLE FAMILY) or REHAB (MULTI FAMILY)
Other Funding t
oject Activities
Total Project Cost
State Funds Requested
Amount
Source
St s
A. Acquis n Costs
1. Land
2. Existing Struc res
3. Other
B.Construction/Rehah:.
(constr, contract costs)
1. Site Work
2. New Building
3. Rehabilitation
4. Performance Bond
5. Infrastructure/on-site
6. Infrastructure/off site
7. Landscaping
8. Contingency
9. Other
C. ArchJEngineering Fees
1. Architect Fee
2. Consultant
3. Engineering Fees
4. Other
D. Other Owner Costs
1. Appraisal
2. Building Permits
3. Tap Fees
4. Soil Test/Env. Sury
5. Other
E. Interim Cos
1. Const tion insurance
2. C struction interest
Constr. Loan/Orig. Fee
4. Other
Application - 17
9 0,2,
Other Funding
Project Activities
Total Project Costs
State Funds
Requested
Amount
Source
St s
F, Penn nt Financing.
Fees Expenses
1. Credit R rt
2. Permanent L n
Origination Fee
3. Title and Recordin
4. Attorney Fees
5. LIHTC Fees
B. Other
'.: G. Gevatepees Fee
H. Tenant Relocation
1. Temporary Relocation
2. Permanent Relocation
SUB TOTAL (A -H)
I. Project Administration
'..
1. Marketing/Management
2. Operating Expenses
3. Real Estate Taxes
4. Other
J. Grants Administration
_
..
1. Financial Reports
2. Program Reports
3. Payment Requests
4. Audit
SUB TOTAL (I -J)
GRAND TOTAL (A -J)
SUMMARY OF FUNDING SOURCES (include Permanent Financing)
Fund Amount
Source
(Loan or Grant)
Term of Loa
Interest Rate
Total:
Application - 18
970r51
FORM B - SOURCES AND USES OF FUNDS
REHABILITATION - SINGLE FAMILY OWNER/RENTER OCCUPIED
Pr ct Activities
Total Project
Cost
State Funds
Requested
A. Rehabilitation
1. Labor/materials
2. Lead Based Paint Tes
3. Building Permit Fees
4. Other
B. Replacement Housing
1. Labor/materials
2. Building Permit Fees
Other
C. Emergency Repairs
1. Labor/materials
2. Building Permit Fees
3. Other
4. Other
SUB TOTAL 1A -CI
P. General Administration
1. Salaries/Fringe
2. Reports/Pymnt Requests
3. Audit
4. O&E/Recording Fees
5. Office Supplies
6. Travel
7. Wor s Comp
B. urance
. Legal Notices
Application - 19
Other Funding
Amount
Source
Stat
Committed
970.'5_ 1 4
10. - • Servicing
11. Other Indirece
Share
E. Direct Administration_..:.
1. Rehab Spec.
Salary/Fringe
2. Travel
3. Other
SUB TOTAL (D -E)
GRAND TOTA
Application - 20
970Z(7:4
FORM C - SOURCES AND USES OF FUNDS
GENERAL HOUSING PROJECTS
Other Funding
Project Activities
Total Project
Cost
State Funds
Requested
Amount
Source
Status
A. 1st Time Homebuyers
1. Downpymt Assistance
$100,000
$96,000
2. Closing Costs
$4,000
WCHA
3. Interest Rate Buydown
4. Case Management
6. Other
.. B 7`enant;Based Ben
.h
1. Rent Payments
2. Case Management
3. Other
C. Other
1
2
3
TAL (A -C)
$100,000
596,000
$4,000
D. General Administration
1. Salaries/Fringe
$2,000
$1,000
$1,000
WCHA
2. Reports/Pymnt Requests
3. Audit
4. O&E/Recording Fees
5. Office Supplies
6. Travel
7. Worker's Comp
8. Insurance
9. Legal Notices
10. Loan Servicing
11. Other To High Plains for
Loan Processing
$8,600
8600
SUB TOTAL (D):;
10600
9600
1000
GRAND TOTAL (A -D)
$110,600
$105,600
5000
Application - 21
970E:14
CONSTRUCTION COST ESTIMATE WORKSHEET
(To be submitted for any new construction or multi -family rehab projects)
ATTACH A COPY OF THE PROJECT COST ESTIMATES. THESE MUST BE BASED ON CONTRACTOR OR ARCHITECT
REVIEW OF ACTUAL DRAWINGS
979'!
Application - 22
FORECASTED PROJECT CASH FLOW (Rental Housing Projects Only)
INCOME
EXPENSES
# of
Units
Sq. Ft.
Monthly Rent
Total Annual
Rent
0 Bdrm
1 Bdrm
2 Bdrm
3 Bdrm
4 Bdrm
Total Rent Income
Parking Income
L. ndry Income
Utilities (Owner paid)
Management Fee
Site Manager Salary (incl. taxes & benefits)
Legal, Accounting, Audit
Advertising
Office Supplies
Ot Income
Trash Removal
Vacancy Rate:
Less Vaca
Elevator
Fire & Liabilit nsurance
nnual Effeeoue tt
ANNUAL DEBT SERVICE
ntenance
1st Mortgage
epairs
2nd Mortgage
Groundskeeping (include snow removal)
Other Debt Service (specify)
Annual.Debt Ssrma
R Estate Taxes
Opera •g Reserve
Replacem- 't Reserve
ANNUi4GJ?
TEN YEAR OPERATING PROFORMA
Year 1
Year 2
Year 3
ar 4
Year 5
Total Income
Less Vacancy
Effective Gross Income
Total Annual Expenses
Total Debt Service
Annual Cash Flow
Year 6
Year 7
Year 8
Year 9
ar 10
Total Income
Less Vacancy
Effective •ss Income
Total ual Expenses
Tot. Iebt Service
Annual Cash Flow
Application - 23
970`:; :4
PROGRAM INCOME
YES
X
NO
Will any program income be realized? (Program income means amounts generated from the
use of CDBG or HOME funds.)
Local Government
If yes, who will retain the program income?
X
Subrecipiient
If yes, how will the retained program income be used? To make other loans to first time home buyers
ENVIRONMENTAL ISSUES
YES
NO
Has there been an evaluation of asbestos hazards?
X
Has there been an evaluation of lead -based paint hazards?
X
Will the project be undertaken in flood hazard areas? (Attach floodplain maps/studies reviewed in
reaching this conclusion.).
X
Will the project be undertaken in geological hazard areas, or affect historical, archeological or cultural
resources?
X
Will the project be located within 1,000 feet of a major highway, 3,000 feet of a railroad, 15 miles of a
commercial airport or near some other major noise source?
X
Will the project be located within one -mile of above -ground storage tanks, transmission pipelines or loading
facilities for explosive or fire -prone substances?
X
Will the project be undertaken near commercial airports or military airfields?
X
If you answered yes to any of the above, what alternatives have been considered? How do you plan to mitigate the adverse
effects?
Application - 24
Ac.g.PAITION, RELOCATION AND REPLACEMENT ISSUES
Will the proposed project involve the acquisition of any land or buildings?
YES
NO X
,
Has the Fair Market Value of the property been established?
YES
NO X
If yes, how?
If by appraisal, send a copy of the appraisal:
Has the seller/owner been notified of the Fair Market Value and signed the appropriate YES
Voluntary Transaction forms (Sample forms start on page 16 of Attachments)?
Date of Notification:
NO
Will the proposed project activity directly result in permanent, temporary or economic
displacement?
YES
NO X
If yes, are the displacees considered low income families or individuals?
(include documentation of current resident incomes)
YES
NO
If yes, what steps have been taken to minimize displacement?
If yes, what assistance/benefits will be provided to displacees?
Application - 25
970S1':4
Will the proposed project result in the demolition or change in the use of any existing low
income housing units?
YES
NO X
If yes, what plans have been developed to replace the units and ensure that they stay at
or below "Fair Market Rent" for 10 years?
SPECIFIC ACTIVITIES requiring determinations which must site the reasons why the activity is 'NECESSARY" and/or
"APPROPRIATE^ !Attach the required determinations to your applicationj
Activities carried out by subrecipients when such activities are not otherwise listed as eligible activities
as ineligible -activities. Such activities are eligible when the grantee "determines that such activities
appropriate to achieve its community development objectives."
Specific Activity:
and are not described
are necessary or
YES
NO
x
Relocation payments and assistance not required by or above those required by the Uniform Act
assistance are made pursuant to State or local law). Such activities are eligible "only upon the basis
determination that such payments are appropriate."
Specific Activity:
(unless such payments or
of a written
YES
NO
x
Preparation of applications for other federal programs. This activity is eligible if the applicant/grantee
activities are necessary or appropriate to achieve its community development objectives."
Fm HA Housing Preservation Grant Program
Specific Activity:
"determines that such
YES
x
NO
Loans for refinancing existing indebtedness secured by a property rehabilitated with CDBG funds.
such financing is necessary or appropriate to achieve the (applicant/grantee's) community development
Specific Activity:
Such loans are eligible "if
objectives."
YES
NO
x
Application - 26
9 l 0r'44
Will the proposed project result in the demolition or change in the use of any existing low
income housing units?
YES
NO X
If yes, what plans have been developed to replace the units and ensure that they stay at
or below "Fair Market Rent" for 10 years?
SPECIFIC ACTIVITIES requiring determinations which must cite the reasons why the activity is 'NECESSARY" and/or
"APPROPRIATE." Attach the required determinations to your application_►
Activities carried out by subrecipients when such activities are not otherwise listed as eligible activities
as ineligible activities. Such activities are eligible when the grantee "determines that such activities
appropriate to achieve its community development objectives."
Specific Activity:
and are not described
are necessary or
YES
NO
x
Relocation payments and assistance not required by or above those required by the Uniform Act
assistance are made pursuant to State or local law). Such activities are eligible "only upon the basis
determination that such payments are appropriate."
Specific Activity:
(unless such payments or
of a written
YES
NO
x
Preparation of applications for other federal programs. This activity is eligible if the applicant/grantee
activities are necessary or appropriate to achieve its community development objectives."
Specific Activity:
"determines that such
YES
NO
x
Loans for refinancing existing indebtedness secured by a property rehabilitated with CDBG funds.
such financing is necessary or appropriate to achieve the (applicant/grantee's) community development
Specific Activity:
Such loans are eligible "if
objectives."
YES
NO
x
Application - 26
97 Oriel': 4
Additional signatures are required only in the case of "multi -jurisdictional" applicants. if this is a multi -
jurisdictional application, the Chief Elected Official of each municipality and county participating in the
application must sign.
To the best of my knowledge and belief, statements and data in this application, including the required
Application Statement of Assurances and Certifications, the attached tables and other documentation, are true
and correct_ The submission of this application has been duly authorized by the governing body of'the
applicant/lead jurisdiction and other participating jurisdictions.
Signature, Chief Elected Official/Officer
03'/24/97
Signature, Chief Elected Official/Officer
Name (Typed or Printed)
George E. Baxter
Name (Typed or Printed)
Title
Chair, Weld County Board
of Commissioners
Date
Signature, Chief Elected Official/Officer
Name (Typed or Printed)
Title
Date
Title
Date
Signature, Chief Elected Official/Officer
Name (Typed or Printed)
Date
Application - 27
Signature, Chief Elected Official/Officer
Name (Typed or Printed)
Title
Date
Signature, Chief Elected OfficiallOfficer
Name (Typed or Printed)
Title
Date
970:744
Colorado Division of Housing Loan/Grant Programs
APPLICANT STATEMENT OF ASSURANCES AND CERTIFICATIONS
The applicant hereby assures and certifies that:
(a) It:
It) possesses legal authority to apply for the loan/grant and to execute the proposed project, and its governing body
has duly adopted or passed as an official act a resolution, motion or similar action authorizing the filing of the
application, including all understandings and assurances required, and directing and authorizing the applicant's chief
executive officer and/or other designated official representatives to act in connection with the application and to
provide such additional information as may be required; and
(2) will give the State, the U.S. Department of Housing and Urban Development (HUD), and any state authorized
representatives access to and the rights to examine all records, books, papers or documents related to the
application and grant..
(3) it is following a detailed citizen participation plan which:
(i) provides for and encourages citizen participation with particular emphasis on participation by persons of
low and moderate income who are residents of areas which Community Development Block Grant (CDBG),
Home Investment Partnership (HOME), Housing Development Grant (HDG) and Revolving Loan Fund (RLF)
funds are proposed to be used;
(ii) provides citizens with reasonable and timely access to local meetings, information, and records relating
to its proposed and actual use of CDBG, HOME, HDG and RLF funds;
(iii) provides for technical assistance to groups representative of persons of low and moderate income that
request such assistance in developing proposals with the level and type of assistance to be determined
by the applicant;
(iv) provides for public hearings to obtain citizen views and to respond to proposals and questions at all stages
of the community development program, including at least the development of needs, the review of
proposed activities, and review of program performance, which hearings shall be held after adequate
notice at times and locations convenient to potential or actual beneficiaries, and with accommodation for
the handicapped;
(v) provides for a timely answer to written complaints and grievances, within 15 working days where
practicable; and
(vi) identifies how the needs of non-English speaking residents will be met in the case of public hearings where
a significant number of non-English speaking residents can be reasonably expected to participate.
(4) has provided for and encouraged citizen participation, with particular emphasis on participation by persons of low
and moderate income who are residents of areas in which CDBG, HOME, HDG and RLF funds are proposed to be
used; by:
(i) furnishing citizens information concerning the amount of funds available for proposed and housing
activities and the range of activities that may be undertaken, including the estimated amount proposed
to be used for activities that will benefit persons of low and moderate income. Its plans for minimizing
displacement of persons as a result of activities assisted with CDBG, HOME, HDG and RLF funds and its
plan for assisting persons actually displaced as a result of such activities;
(ii) publishing a proposed project plan/application in such a manner to afford citizens an opportunity to
examine its content and to submit comments on the proposed project plan/application and on the
community development performance of the jurisdiction(s);
(iii) holding one or more public hearings, as indicated below, to obtain citizens view and to respond to
proposals and questions related to community development and housing needs, proposed activities and
past CDBG, HOME, HDG, and RLF performances. All hearings were held no sooner than five days after
Attachments - 2
9i0� 4
notice, at times and locations convenient to potential or actual beneficiaries, and with accommodation
for the handicapped and for the needs of non-English speaking residents where a significant number
of such residents could have been reasonably expected to applicant(s);
Applicant/Participant* Date Time Location
Weld County
March 24, 1997 915 10th Street,
Greeley, COI
" In the case of a "multi -jurisdictional" application, each participating municipality and county must hold at least on public hearing.
Signatur4 Chief Elected Official/Officer"
4/n/n
Name (Typed or Printed)
George E. Baxter
Title
Chair
Date
Signature, Chief Elected Official/Officer"
Name (Typed or Printed)
Title
Date
Signature, Chief Elected Official/Officer Signature, Chief Elected Official/Officer
Name (Typed or Printed) Name (Typed or Printed)
Title Title
Date Date
Signature, Chief Elected Official/Officer Signature, Chief Elected Official/Officer
Name (Typed or Printed) Name (Typed or Printed)
Title
Date
Title
Date
Additional signatures are required only in the case of -"multi -jurisdictional" applicants. If this is a multi -jurisdictional
application, the Chief Elected Official of each municipality and county participating in the application must sign.
Attachments - 3
970r) Or' ;r1
RESIDENTIAL ANTIDISPLACEMENT AND RELOCATION ASSISTANCE PLAN
for the Home Investment Partnership (HOME) Program and/or
the Community Development Block Grant (CDBG) Program
Weld County will replace all occupied and vacant occupiable low/moderate income dwelling units
demolished or converted to a use other than as low/moderate income housing as a direct result of activities assisted
with HOME funds, as required by Section 105(b) of the Cranston -Gonzales National Affordable Housing Act
(42.U.S.C. 12705W)) and or with CDBG funds, as required by Section 104W) of the Housing and Community
Development Act of 1974, as amended (the Act), and implementing regulations at 24 CFR 570.496a.
All replacement housing will be provided within three years of the commencement of the demolition or rehabilitation
relating to conversion. Before obligating or expending funds that will directly result in such demolition or
conversion, Weld County will make public and submit to the State the following information in writing:
1. Description of the proposed assisted activity;
2. The general location on a map and approximate number of dwelling units by size (number of bedrooms)
that will be demolished or converted to a use other than as low/moderate dwelling units as a direct
result of the assisted activity;
3. A time schedule for the commencement and completion of the demolition or conversion;
4. The general location on a map and approximate number of dwelling units by size (number of bedrooms)
that will be provided as replacement dwelling units;
5. The source of funding and a time schedule for the provision of replacement dwelling units; and,
6. The basis for concluding that each replacement dwelling unit will remain in a low/moderate income
dwelling unit for at least 10 years from the date of initial occupancy.
7. Information demonstrating that any proposed replacement of housing units with smaller dwelling units
(e.g., a 2 -bedroom unit with two 1 -bedroom units), or any proposed replacement of efficiency or single -
room occupancy (SRO) units with units of a different size, is appropriate and consistent with the
housing needs and priorities identified in the approved Comprehensive Housing Affordability Strategy
(CHAS).
To the extent that the specific location of the replacement housing and other date in items 4 through 7 are not
available at the time of the general submission, Weld County will identify the general location of such housing
on a map and complete the disclosure and submission requirements as soon as the specific data are available.
Weld County Housing Authority at telephone number 356-4000 ext 4401 is responsible for tracking the
replacement of low/moderate income housing and ensuring that it is provided within the required period.
The Weld County Housing Authority at telephone number 356-4000 ext 4401 is responsible for providing relocation
payment and other relocating assistance to any low/moderate income person displaced by the demolition of any
housing or the conversion of low/moderate income housing to another use.
The Weld County will provide relocation assistance, as described in 570.496a(b)(2), to each low/moderate
income household displaced by the demolition of housing or by the conversion of a low/moderate income dwelling
to another use as a direct result of assisted activities.
Consistent with the goals and objectives of activities assisted under the Act, the Weld County will take the
steps indicated below to minimize the displacement of persons from their homes:*
Attachments - 13
970;714
The following are examples of steps to minimize displacement. The first two are required. The others are optional. Only check those
which are appropriate for the project and local circumstances. Add other steps as necessary or appropriate.
Provide substantial levels of relocation assistance, as required by 24 CFR 570.496a(b)(2). The substantial cost
of providing such assistance serves as a strong deterrent to unnecessary displacement.
Replace all occupied and vacant occupiable low/moderate income housing demolished or converted as a direct
result of HOME -assisted project activities, and make such replacement housing affordable for at least ten years.
The substantial cost of providing such replacement housing serves as a strong deterrent to unnecessary
displacement.
_ Consider all practical alternatives to any proposed project which may result in residential displacement.
Alternatives to be considered include other sites for the proposed facilities/project. Also to be considered are
the costs and benefits, both financial and nonfinancial, of each alternative.
Provide counseling and referral services to assist displacees find alternative housing in the community.
_ Work with area landlords and real estate brokers to locate vacancies for households facing displacement.
Stage rehabilitation of assisted housing to allow tenants to remain during and after rehabilitation, working with
empty buildings or groups of empty units first so they can be rehabilitated first and tenants moved in before
rehab on occupied units or buildings is begun.
_ Establish temporary relocation facilities in order to house families whose displacement will be of short duration,
so they can move back to their neighborhoods after rehabilitation or new construction.
_ Evaluate housing codes and rehabilitation standards in reinvestment areas to prevent their placing undue
financial burden on long-established owners or on tenants of multi -family buildings.
Develop displacement watch systems in cooperation with neighborhood organizations to continuously review
neighborhood development trends, identify displacement problems, and identify individuals facing displacement
who need assistance.
_ Coordinate code enforcement with rehabilitation and housing assistance programs.
_ Adopt policies to identify and mitigate displacement resulting from intensive public investment in
neighborhoods.
_ Adopt policies which provide reasonable protections for tenants faced with conversion to a condominium or
cooperative.
_ Adopt tax assessment policies, such as deferred tax payment plans, to reduce impact of increasing property
tax assessments on low/.moderate income owner -occupant or tenants in revitalizing areas.
03/24/97
ignature-4 Chief Elected Official George E. Baxter Date
Chair, Weld County Board of Commissioners
NOTE: EACH MUNICIPALITY AND COUNTY DIRECTLY PARTICIPATING IN A MULTI -JURISDICTIONAL APPLICATION IS REQUIRED TO
HAVE A RESIDENTIAL ANTIDISPLACEMENT AND RELOCATION ASSISTANCE PLAN.
Attachments - 14
970re,,4
DIVISION OF HOUSING DISCLOSURE REPORT
PART 1: APPLICANT/GRANTEE INFORMATION
1. Application/grantee name, address and phone number:
Weld County
P.O. Box 758
Greeley, CO 80632
Federal employer identification number: 84-6000813
2. Indicate whether this report is:
3. Project Assisted/To be Assisted.
a. Fiscal Year: 1997
Initial X Update
b. Entitlement Grant(s)
Competitive Grant X
c. Amount requested/received:
d. Program income to be used with (c) above:
e. Total of (c) and (d):
$1nc,Rnn
inc Ann
PART II: THRESHOLD DETERMINATIONS
1. Is the amount listed at 3(e) above more than 8200,000?
2. Have you received or applied for other HUD assistance
(through programs listed in Instructions) which, when
added to 3(e) above amounts to more than $200,000?
If the answer to either 1 or 2 of this Part is "Yes,"
then you must complete the remainder of this report.
If the answer to both 1 and 2 of this Part is "No,"
then you are only required to sign the following
certification and need not complete the remainder of
this report.
I hereby certify that this information is true.
Yes
No
Yes X No
(Chief Elected Official/Title) (Date)
Attachments - 9
9705. 74.4
PART III: OTHER GOVERNMENT ASSISTANCE PROVIDED/APPLIED FOR
1.
Provide the requested information for any other Federal, State and/or local governmental assistance, on hand
or applied for, that will be used in conjunction with the funds you are requesting from the Division of Housing.
(See instructions)
Name and Address of Agency Providing or to
Provide Assistance
Program
Type of
Assistance
Amount Requested or
Provided
Colorado Association of Realtors
309 Inverness Way South
Englewood, CO 80112
CARHOF
grant
$10,000
Attachments - 10
97( !14
PART IV: INTERESTED PARTIES
Alphabetical List of All Persons with a
Reportable Financial Interest in the Project
Social Security or
Employer ID #
Type of
Participation in
Project
Financial Interest in
Project IS or %)
None
Attachments - 11
970F1.,1 41
PART V: EXPECTED SOURCES AND USES OF FUNDS
This Part requires that you identify the sources and uses of all assistance, including the funds you are applying for/or
have received from the Division of Housing, that have been or may be used in the Project.
9SOURCE
USE
No other Division of Housing
Funds
PART VI: CERTIFICATION
hereby certify that the information provided in this disclosure is true and correct and I am aware
that any false information provided or lack of information knowingly made or omitted may subject me
to civil or criminal penalties under Section 1001 of Title 18 of the United States Code. In addition,
I am aware that if I knowingly and materially violate any required disclosure of information„ including
intentional nondisclosure, I am subject to a civil money penalty not the exceed $10,000 for each
violations.
03/24/97
George'E. Baxter, Chair, Weld County Board of Commissioners
(Chief Elected Official or Executive Director/Title) (Date)
Attachments - 12
9701.7t!:4
MEMORANDUM
TO: George E. Baxter, Chair Date: March 17, 1997
Weld County Board of Commissioners { ,
FR: Judy Griego, Director, Social Services Vl�
RE: Down Payment Assistance Application r 11 I
As discussed at the Housing Authority Work Session of March 17, 1997, this request
would expand the down payment assistance program currently being administered by
High Plains Housing Development Corporation to the balance of Weld County.
We are proposing to provide down payment assistance for 24 households in Weld County
during a twelve month period at an average costs of $4,000 per household. Total amount
requested is $105,600.
High Plains Housing Development Corporation will be used as the administering agency to
determine the eligibility of the applicants for the program and for homeownership
education. Once an applicant is determined eligible for the program, a 5 per cent interest
rate loan will be provided. The term of the loan is 10 years..
Staff is recommending Board approval of the Down Payment Assistance Application.
If you have any questions, please telephone me at 352-1551, Extension 6200.
970544
MEMORANDUM
TO: George E. Baxter, Chair Date: March 17, 1997
Weld County Board of Commissioners
FR: Judy Griego, Director, Social Services
RE: Public Hearing For Down Payment As
Application
0
The State requires that a public hearing be held prior to the submission of an application
for CDBG or HOME funding. The Public Hearing has been scheduled as part of the
Housing Authority Regular Board Meeting and should be held prior to the Board taking
any action of the Down Payment Assistance. Application which is being presented as an
agenda item.
Issue to be resolved
What will role will Weld County have in the administration of the program?
At the Housing Authority Work Session of March 17, 1997, we briefly
discussed the role of the County and the High Plains Housing Development
Corporation in the administration of the Down Payment Assistance
Program, should funding be approved by the State Division of Housing.
As applicants for the program, Weld County will have responsibility
for contract compliance with the State, should funds be awarded.
As a part of that responsibility, we will be required to submit the
necessary reports to the State concerning program and fiscal activity.
Currently the City of Greeley serves as the fiscal agent for the High
Plains Development Corporation; all payments to the title companies
go directly to the title company from the City. According to Tom
Teixeira, Director of the High Plains Housing Development
9 OrL':4
Corporation, he is under increasing pressure, as a Community
Housing Development Organization (CHDO) to establish their own
finance system. The rationale for this is to establish capacity as an
agency.
We currently have an agreement with the Greeley Urban Renewal
Authority to do our work write ups for our housing rehabilitation
program. With regard to that program, we maintain responsibility for
all administrative functions under terms of our contract with the
State. All accounting functions, rest with the County.
Options are for:
1. The County to serve in a pass through role for all funds
to High Plains Housing Development Corporation. High
Plains would have responsibility for all fiduciary
functions, as well as other functions. Weld County
would retain contract compliance
2 The County to maintain fiduciary responsibility and
contract other functions to High Plains. This
arrangement is which currently exists between Greeley
and High Plains. We would also service any loans made
with County funding.
Our recommendation is to maintain fiduciary responsibility and service
any loans made through County funds. The reason for this
recommendation is that we would continue to be responsible for all
contractual provisions of grants provided to Weld County. This
approach would assure better controls. By servicing the loan, we
can continue to assure that Weld County borrowers (outside the City
of Greeley) have an opportunity to become homeowners.
970.t7t4
Hello