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1 <br /> Amount Amount <br /> Agency Requested Recommended <br /> 131.00000.00 $382 <br /> 9. Community Housing Improvement Program $350,000.00 � <br /> Administration/Loans -CDBG ($303,669) 2060 ($78,462) <br /> CHIP provides housing rehabilitation services and loans to Everett <br /> properties. Rehabilitation services (loan processing, preparation of bid <br /> specifications, selection and monitoring of contractors) are provided to <br /> homeowners and landlords whose property is located within the <br /> program boundaries. A variety of loans (conventional, guaranteed, <br /> reduced interest, and deferred payment)are available to homeowners <br /> based on income. Due to accounting changes required by HUD all <br /> funding is put into Fund 197 and is used for administration and <br /> rehabilitation projects. <br /> 10. Community Housing Improvement Program $291,997.00 $344,995.00 <br /> Loans - HOME <br /> 11. Affordable Housing Project* $500,537.00 <br /> (Placeholder-Supplemental Committee Recommendation 5/4/17) <br /> HOME Reallocation <br /> Total $2,129,679.00 <br /> Amendments to Snohomish County Action Plans <br /> PREVIOUS YEARS HOME FUNDS REALLOCATION <br /> The City of Everett is a member of the Snohomish County Urban County Consortium for HOME funds. <br /> The City of Everett, the City of Marysville, and Snohomish County collaborated in the development of a <br /> joint 2015-2019 Consolidated Plan which was adopted in May 2015. The plan, in part, identifies priority <br /> housing needs in our community for low-income and homeless persons, including persons with special <br /> needs, and establishes five-year goals to guide the investment of HOME funds over the five-year period <br /> to help meet these needs. <br /> Pursuant to an interlocal agreement, 21% of the Consortium's HOME funds are set-aside each year for <br /> affordable housing activities that benefit residents of the City of Everett and the City of Everett's Urban <br /> Growth Area. The projects are selected through the City of Everett's project selection process and <br /> undergo both city-wide and county-wide citizen participation requirements. Snohomish County has final <br /> approval of the project awards, which are included in the Annual Action Plan for these funds each year, <br /> or as amendments to these plans. Projects selected must be consistent with the 2015-2019 <br /> Consolidated Plan goals. <br /> The City of Everett CHIP program is a long-standing program in the community that consistently <br /> receives applications for assistance and makes loans under the program. However, it has received <br /> significantly higher than usual program income from loan repayments over the past few years and has <br /> not been able to expend any of its 2016 HOME award. The City of Everett estimates that the program <br /> will have enough program income to cover the costs of the program through June 30, 2017. Per <br /> guidance from the U.S. Department of Housing and Urban Development (HUD), if the balance of these <br /> 10 <br />