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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET <br /> PROJECT TITLE: J <br /> Consent COUNCIL BILL# <br /> Agreement between HOMESIGHT x Action Originating Department Planning <br /> and the City of Everett for HOME and First Reading Contact Person Dave Koenig <br /> HOME ADDI funds for$264,433.00 Second Reading Phone Number 257-8736 <br /> Third Reading FOR AGENDA OF May 16, 2007 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President Q'( <br /> Location Preceding Action Attachments Department(s) Approval <br /> City wide Agreement with Agreement Legal,Planning and <br /> Snohomish County for Community Development <br /> ADDI/HOME funds, <br /> City Council approval of <br /> HOME funding to <br /> HOMESIGHT <br /> Council approval of this agenda item authorizes a budget revision in the additional amount requested. <br /> Expenditure Required $ 264,433.00 Account Number(s): Fund 197 <br /> Amount Budgeted $ 264,433.00 <br /> Additional Required $ -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The City of Everett and Snohomish County have an Interlocal Cooperation Agreement for the HOME <br /> Investment Partnership. The American Dream Downpayment Initiative(ADDI) are HOME funds set aside <br /> for homeownership separate from the HOME allocation. The total amount of funding for this agreement is <br /> $264,433.00 and comes from several years of funding which were approved by City Council on January 3, <br /> 2007. The City Council has approved these funds to be provided to HOMESITE as a part of the annual <br /> funding cycle and this is the follow up agreement approval. <br /> RECOMMENDATION (Exact action requested of Council): <br /> Authorize the Mayor to sign the Agreement between HOMESIGHT and the City of Everett for HOME and <br /> HOME ADDI funds for$264,433.00 <br /> 15 <br />