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Home My WebLink About11/15/2016 08 2017 CDBG and HOME Annual Action Plan - Office of Neighborhood Development ServicesBUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDASTATEMENT Item No. 8. For Meeting of: November 15, 2016 ITEM TITLE: Public meeting to consider citizen comments on the proposed 2017 Annual Action Plan for Community Development Block Grant (CDBG) and HOME Fund Programs SUBMITTED BY: Joan Davenport, AICP, Community Development Director Archie Matthews, ONDS Manager (509) 576 -6761 SUMMARY EXPLANATION: Every year the City of Yakima is required by the Federal Housing and Urban Development Department (HUD) to provide an Annual Action Plan that outlines the City of Yakima's budget plans for using Community Development Block Grant (CDBG) entitlement funds and HOME Investment dollars to meet the needs of its low to moderate income citizens with "eligible activities ". The CDBG program has three primary objectives; to benefit low and moderate income persons, to assist with problems relating to slum and blight, and to assist with urgent health and welfare needs. The program can thus provide assistance in a broad range of activities and services, but at least 70% of all funds must be spent on assisting people with issues related to low income. The HOME Program can only assist low /moderate income persons with issues relating to housing; which can range from new construction of single - family to rental housing and down payment assistance for first time homebuyers. In keeping with HUD regulations, the City of Yakima must allow a thirty day written comment period and two public meetings in order to give the citizens of Yakima an opportunity to comment and provide input on the proposed 2017 Annual Action Plan "DRAFT ". This is the first of two public meetings and within the thirty days written comment period that began November 1, 2016. The proposed 2017 Annual Action Plan DRAFT is available on the city's website or at the City Clerk's Office. https: / /www.yakimawa.gov /services /neig hborhood- development- services/ ITEM BUDGETED: NA STRATEGIC PRIORITY: Neighborhood and Community Building APPROVED FOR 0 City Manager SUBMITTAL: STAFF RECOMMENDATION: BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description Upload Date Type 2017 DRAFTAnnual Action Plan 111312016 Backup Material City of Yakima Office of Neighborhood Development Services Community Development Block Grant HOME Investment Partnership: DRAFT 2017 Annual Action Plan Executive Summary I I - j h, NOMM This document is the 2017 Annual Action Plan for the City of Yakima's 2015-2019 Consolidated Plan. The format and content • the document is largely dictated by the US Department of Housing and Urban Development (HUD) regulations. These regulations provide a framework that helps ensure that each dollar invested meets local priorities and complies with Federal law. rtr 0 =, OMB CoMol No: 2506-0117 (exp. 07/31/2015) 0 ;Mrli MIT-91115 This could be a restatement of items or a table listed elsewhere in the plan or a reference to from the housing and homeless neecLi assessment, the housing market analysis or the strategic plan. this 2017 Annua ff• j-j U-771-1-FT-1 M ;r;% -a*w:-�VT;r4y- -AI rantee to choose its ,Toals es projects. The 2017 Annual Action Plan will be the third year of the 2015-2019 Consolidated Plan. The Annul Action Plans will report progress on addressing priority housing and non-housing community Ie§ MWUU6-w fo rogress previous 2010-2014 Consolidated Plan. I A detailed breakdown report of prior year uses and performances has also been provided in the yearly kor idated Annual Performance & Evaluation Re-,r Yakim] ,ort (CAPER) which is available at the City of - Office ♦ Neighborhood Development Office or online at Yakima's webpage (www.ci.yakimawa.gov) 40 MEE 5. Summary of public comments This could be a brief narrative summary • reference an attached document from the Citizen Participation section • the Con Plan. 11MIE OMB Control No: 2506-0117 (exp. 07/31/2015) F9 7. Summary ffunds aMd HOME Investment dollars as regulated by HUD concerning Eligible Activities and meeting National 11 1111111 1 11111pil MM OMB Control No: 2506-0117 (exp. 07/31/2015) El • • • • s • • • • • • • • • • • • • • • • • • • • • • N �I UAFa' R • • • • • • • • • • • • • • • OMB Control No: 2506-0117 (exp. 07/31/2015) 2 • r •e: • . 1 ♦ + i . . I • ! •: 1 ► .:. is f !', i and fair housing services-especially those focusing on services to children, the elderly, persons with &abilities, persons with HIV/AIDS and their families, and homeless persons through the Homeless Network of Yakima County staffed by the Yakima County Department of Human Services. Authority (YHA) to assure that the Yakima Consolidated Plan is inclusive and addresses statutory purposes. those Describe coordination with the Continuum of Care and efforts to address the needs of children, veterans, and unaccompanied youth) and persons at risk of homelessness. The City of Yakima works with the Continuum of Care to strategize, plan and assist with Emergency Winter Shelters for the Homeless on a year by year basis, in order to ensure safe, decent, emergency •• ••d • 14' 7 Describe consultation of Care that serves the jurisdiction's determining how to allocate ESG funds, develop performance standards for and evaluate AAr-h-kmdJng,;.nolicIes and procedures for the operation and administration of HMIS 2. Describe Agencies, groups, organizations and others who participated in the process • ! _ • • • •r, • 1 t • entities y ♦ e OMB Control No: 2506 -0117 (exp. 07/31/2015) N Ta le 2—Agencles, groups, organizations who erticipated I Agency/Group/Organization Catholic Charities Housing Services Agency/Group/Organization Type Housing Services - Housing Services-Children Services-Elderly Persons Services-Persons with Disabilities Service-Fair Housing What section of the Plan was addressed by Housing Need Assessment Consultation? Public Housing Needs Homeless Needs - Chronically homeless Homeless Needs - Families with children Homelessness Needs - Veterans Homelessness Needs - Unaccompanied youth Homelessness Strategy Non-Homeless Special Needs Market Analysis Anti-poverty Strategy Briefly describe how the Agency/Group/Organization ONDS conducted meetings of the Community Development Advisory Board was consulted. What are the anticipated outcomes of providing review and feedback of is Catholic Charities Housing Services (CC S} the consultation or areas for Improved coordination? was an intregal part of. As in the past CC HS has assisted ONDS with developing housing market strategies as well as developing affordable housing projects within the City of Yakima for First Time Homebuyer's, as well as affordable housing opportunities for low to moderate income Elderly. Z=1 ---------------- 2 Agency/Group/Organization -- OIC OF WASHINGTON Agency/Group/Orpnization Type Housing Services - Housing Services-Children Services-Elderly Persons Services-Education Service-Fair Housing What section of the Plan was addressed by Housing Need Assessment Consultation? Public Housing Needs Homeless Needs - Chronically homeless Homeless Needs - Families with children Homelessness Needs - Veterans Homelessness Needs - Unaccompanied youth Homelessness Stratagy Market Analysis Economic Development Anti-poverty Strategy Lead-based Paint Strategy Briefly describe how the Agency/Group/Organization As a member of the Community Development Advisory Board a member of OIC was consulted. What are the anticipated outcomes of attended committee meeting and provided review and feedback of Housing needs, the consultation or areas for Improved coordination? affordable housing, homeless issues, lead based paint strategy, as well as Market Analysis research and Economic Development Trends. 3 Agency/Group/Organization — YAKIMA VALLEY PARTNERS HABITAT FOR HUMANITY — - --------- Agency/Group/Organization Type Housing Services - Housing W What section i r Housing Need Assessment Consultation? Public Housing Needs Homeless Needs - Chronically homeless Homeless Needs - Families with children Homelessness Needs - Veterans Homelessness Needs - Unaccompanied youth Homelessness Strategy Non-Homeless Special Needs Market Analysis Economic Development Anti-poverty Strategy Briefly describe the r / i i Yakima Valley Partners Habitat for Humanity as a member of the Community was consulted. What are ici pated outcomes of Development Advisory Board ends committee eeti s and provides review the consultation r areas for Improved r i i and feedback fora wide variety of or le Housing issues, Homeless needs and strategy as well as Anti-poverty strategy. Agency/Group/Orpnization YAKIMA COUNTY Agency/Group/Organization Housing Services - Housing Services-Children Services- Elderly Persons Services-Persons with Disabilities Services-Persons with HIV/AIDS Services-Victims of Domestic Violence Services-homeless Services-Employment Se ice -Fair Housing Services - Victims Other government - County Annual Action Plan 1 2017 OMB Control No: 2506 -0117 (exp. 07/31/2015) What section of the Plan r oeless Needs - Chronically homeless Consultation? Homeless Needs - Families with children Homelessness Needs - Veterans Homelessness Needs - Unaccompanied youth Homelessness Strategy Non-Homeless Special Needs Briefly describe j r ix ti ei s with the Yakima County Department of rvices in consultation was consulted. What are tics pated outcomes of about affordable housin and o elessness issues within the City of Yakima. the consultation r areas for improved r i i? Continued coordination in vel i and ai ai in affordable housing as well as continued cooperation in eali with the Yakima County Continuum Care Plan. Agency/Group/Organization i osi Authority Agency/Group/Orpnization Type Housing PHA Services - Housing Publicly Funded Institution/System of Care section What i an was addressed by Housing Assessment Consultation? Public Housing s Homeless Needs - Chronically homeless Homeless Needs - Families with children Homelessness Needs - Veterans Homelessness Needs - Unaccompanied youth Homelessness Strategy Briefly describe Agency/Group/Organization The Director Mr. Lowell Krueger is a member of the Community evelo ent s consulted. What are the anticipated c Advisory Board and attended a i s as well as consulted via email. The City the consultation or areas for improved coordination? Yaki continues to work closely with the Yakima Housing Authority to develop and maintain affordable housing. Annual Action Plan 12 2017 OMB Control No: 2506 -0117 (exp. 07/31/2015) " ra • specific Agency was intentionally excluded from the consultation process as a 30 day written comment period will advertise and open to any citizen or agency to give additional written comment, plus two advertised Public Hearings to give ample opportunity for input from individuals, groups, departments and/or agencies. Narrative (optional) needs and consistency with the YHA's planned programs and activities in the Yakima Housing Authority Agency Plan and the Yakima Consolidated Plan. W1 Yakima County 1 The City of Yakima works hand In hand with Yakima County in assisting the local community with Continuum of Care Council of a variety of programs and goals, such as affordable housing, the Yakima County Economic I Government Development, assisting the Homeless, street improvements and transportation needs. The Urban Area Comprehensive Plan Cj)wa - s developed in accordance with the Growth Management Act (GMA) to address growth issues in the City of Yakima and the adjacent Urban Yakima Urban Area Growth Area. It represents the community's policy plan for growth over the next 20 years. It will Comprehensive Plan The City of Yakima assist the management of the City by providing policies to guide decision-making for growth, 2025 development and public services. Cities are required to update their plans every ten years. The o nal Yakima GMA Plan was adopted in 1997 and planned through the year 2015 and has been updat d and will carry the community forward through 2025. Table 3 — Other III I i regional / federal planning efforts Narrative (optional) needs and consistency with the YHA's planned programs and activities in the Yakima Housing Authority Agency Plan and the Yakima Consolidated Plan. W1 funded under YHA orograms and those development goals. M AP-12 Participation — 91.105, 91.200(c) 1. Summary of citizen participation process/Efforts made to broaden citizen participation Summarize citizen participation process and how it impacted goal-setting im ry E[.1 I VIM AP-15 Expected Resources — 91.220(c) (1, 2�' introduction After ten years of slow steady entitlement reduction from 2006 when the CDBG budget was $1,214,103 and in 2016 was $902,258 with 2006 .14-fWA 2n-1 M 2TIT g *Oa--V-A? possibly be reduced even more. order to continue to serve it's low to moderate income citizens to the best of it's ability. Program Sou me of Uses of Funds Expected Amount Available Year I Expected Narrative Funds Annual Program Prior Year Total: Amount Description Allocation: Income: $ Resources: $ Available $ Reminder of CDnPlan CDBG public - Acquisition federal Admin and Planning Economic Development Housing Public Improvements Public Services 902,258 63,070 307,779 1,273,107 1,273,107 HOME public - Acquisition federal Homebuyer assistance Homeowner rehab Multifamily rental new construction Multifamily rental rehab New construction for ownership TBRA 410,305 94,300 1,608,518 2,113,123 2,111,290 Table 5 - Expected Resou mes - PriorIty Table dm� matching requirements will be satisfied ITALS=. WEP1. INFU477117- 1:01-111MIT. .4 a] K!ul #1 1:11 SW Ull "I 11�-j ZITL4 F I =76 I IN", ZTVFT RIC parEnersRfP-PWVMVatlon helps the City of Yakima meet its Federal Match requirements. 111 W!"LliA-0 4 0 11M., TIM I N-1 I Mr .17UMM :i OMB Control No: 2506-0117 (exp. 07/31/20P 19 identified in the plan IT PITI I III I � I I I � Ili I I I ! I I I I I!! I I I I � I i I � I I I pl!� 1 Pill :111FIr In • I+umA xiwmg &;rlacel-aind �Plscal-mtva State Care Facility. im s • - • 1 • M.1ral • f WR 1 . -, . stc No Goals • f Needs Goal Outcome Indicator Single Familiy 1 1 . • M' M OF . M. G: Homeowner H Rehabilitation Program YAKIMA priority $509,855 90 Household Housing Unit needs Community CITY OF Housing r• Other: Development . priority ' 1 Grant Administration needs Public Services 1 1 ' Non- f ousi CITY OF Housing CDBG: activities Communit YAKIMA priority $145,907 I Low/Moderate Income Housing Developm t needs Benefit: 6800 Persons Assisted Sort Goal Name Start End Category Geographic Needs Funding Goal Outcome Indicator Order Year Year I Area Addressed 5 Economic Development 2015 2019 Non-Housing CITY OF Housing CDBG: Jobs created/retained: 7 Jobs Community YAKIMA priority $50,000 Development needs 6 Administrative HOME 2015 2019 Affordable CITY OF Housing HOME: Other: 1 her costs Housing YAKIMA priority $50,277 needs 7 First Time 2015 2019 Affordable CITY OF Housing HOME: Direct Financial Assistance to Homeownership Housing YAKIMA priority $100,000 Homebuyers: 2 Households Assistt Program needs 8 Community Housing 2015 2019 1! Affordable CITY OF Housing HOME: Homeowner Housing Added: 2 Development Housing YAKIMA priority $78,314 Household Housing Unit Organization needs 9 New Construction 2015 2019 Affordable CITY OF Housing HOME. Rental units constructed: 2 Housing YAKIMA priority $275,830 Household Housing Unit needs Rental units rehabilitated: 2 Table 6 — is Summary Household Housing Unit Homeowner Housing Added: 2 Household Housing Unit W l Goal Name Single Familiy Rehabilitation Program Goal The Single Family Rehabilitation Program includes; Description • The Senior/ Disabled Homeowner Emergency Repair Program • The Senior/Disabled Homeowner Wheel Chair Ramp Program • The Senior/Disabled Exterior Paint Program (This program is subject to availability to qualified projects and funding year to year.) 2 Goal Name Community Development Block Grant Administration Goal This program deals with the costs associated with the Administration of the Community Development Block Grant (CDBG) Description funds including personnel, equipment, and associated costs as per HUD regulations Involving program administration. 3 Goal Name Public Services Goal Public Service Programs assists with; Description • "Public Service Programs" administered through OIC of Washington in operating programs through the South East Community Center. • Graffiti Abatement • Senior/Disabled Energy Assistance • Landlord /Tenant Counseling 4 Goal Name Public Facilities and Infrastructure Goal This program line assists "Public Facilities" with substantial rehabilitation as HUD Eligible Activities. Description 5 Goal Name Economic Development Goal The Economic Development budget line is to assist with either "Job Creation and/or Job Retention" as per HUD Eligible Description Activities. RN Goal Name Administrative HOME costs Goal HOME administrative costs are associated with the cost of administering the HOME Investment funds to include personnel, Description office equiptment, etc. The HOME program allows for a maximum amount of 1(r/6 of the yearly total HOME Investment �entitlem.cent to be used for HOME administration. - --- -- ------- — ----- mi Goal The First-Time Homeownership program assists qualified low to moderate income first time homeowners with assistance in Description the form of a soft-second mortgage in conjunction with their first mortage bank loan. Monthly payments may be set according to the payback affordability by the buyer and deferred until five years at which time their affordability will be reviewed until they are deemed to have the affordability to make payments on the soft second mortgage. Goal Name ------------ ._ Community Housing Development Organization ------------ -- - -- ----- Goal As per HUD eligi le requirements, a minimum of 15% of an "Entit ements" HOME Investment un s must be used in Description supporting a Community Housing Development Organization (CHDO). This program assists local qualified CHDO's with the development, construction and/or assistance to qualified housing projects within the City of Yakima in assisting in the construction of affordable housing units. New Construction As an eligible HOME Investment program, this program goal is to add new construction units as either single family residential dwellings or may be used in partnership with a Community Housing Development Organization (CHDO) in the construction of affordable apartment units or transitional housing units. - ----- -- �FT,Ir_yxa • Is- Nd]74M, affordable housing as defined by HOME 91.215(b): defined by HOME 91.215(b) • R&I - ,, 1 W 123WEVEM 93 • UIM 1=1 - • The City of Yakima in serving it's citizens offers programs on an "As needed" basis, which means individuals must apply for program assistance. Applicants must meet eligibility qualifications to meet individual program specifications. Once the applicant is qualified through a program application, only ;_ A' I I A i I !!!!!!!!! iiii . iii 111dw t P qiIF1 le Familv Rehabilitation ProI Other individual projects are approved by the Yakima City Council through different eligible programs such as; Public Facilities, Infrastructure, Economic Development, Community Housing Development needs 1111161: 1 L 11 i :i 1 ON M1 " r . Table — Project 4 m AP-50 Geographic Distribution '1,ZM5i;EF,U L!&. ri-�F--is of low-income and minority concentration) where assistance will be directed -nrNe- theCit�,&Yka�imalq nssihle within the entire city limits of Yakima,.. 1 6 0 design bv ttw City of -q-1j&-encialleve beitlowto V moderate or otherwise into any designated area, real or otherwise. Therefore, the programs are The City of Yakima does not limit any CDBG or HOME Investment funding to any specific geographical ff rjan�-mnmAA-A15 I-b". Va id firmcliroy within the entire city limits E9=1 0006M. vmr •� WE PR r-I T Ij no T M I 111W.T. M;R [01 v1#X11 I!J!Lajgfj ge ITMErA entitlement HOME funds in supporting Affordable housing though certified CHDO/s FITMT= Due to the reduced Federai tritiverneRY) homeowners with severe Emergency repairs such as; no heat, no power, no water, no sewer, ieteriorated roofs and exterior paint that have become insurance concerns that may lead to KFAM M OMB Control No: 2506-0117 (exp. 07/31/2015) m CEHH�M I MUM Frat the City of Yakima has supported specific facilities through various ways and even though budget restrictions severely limits the Cities participation in current projects, each request • the Housing Authority is reviewed individually and participation is given consideration through the Yakima City laz-= The Office of Neighborhood Development as the local environmental representative for HUD projects I per--d n-C1Ane-Tta-fiGk-t0 meet the HUD regulation criteria needed for those specific projects as requested • the Housing M. F=. F. ==Mq= ITT, r. • I he Juty ot Fakima vVice of r;eignDornoo 11 1 1 - m- -, - - I I P1 support the Yakima Housing Authority as our federal limited budget will allow. Specific projects and documentation as requested by the Yakima Housing Authority. participate In homeownership 27= The YHA also participates in the Yakima County Asset Building coalition and they are establishing a partnership with YV-CAN for the Union Gap and Yakima area. YHA is also in the process of collaborating witFuthe; gial-if eve?T��gxix";E-f ar-t.ke college bound scholarship. OMB Control No: 2506-0117 (exp. 07/3112015) Kit Lastly, YHA is administering the Family Self-Sufficiency (FSS) Program. This program enables familim ff I'll ii r ti Pir Par ed i-mcome and reduce their depende- - -, - A FTVK=I� if the PHA is designated as troubled, describe the manner in is financial assistance will be The Yakima Housing Authority continues to do an extrodinary job in assisting Yakima residents with decent, safe, affordable housing through it's many diverse housing programs. The city of Yakima loo forward to continuing our partnership with the YHA to provide this type of housing to our citizens. I Annual Action Plan 2017 9M • r 1 including individual transitional ■ opportunities on * • project basis. 1, • �. r EU= m Y49qKjjjt7,=- FMMN h j 14 ,11 xfflTTMN=I MVeV4FI1XV-%, the city is unable to address this particular need until additional funding becomes available. The City of Yakima through it's Senior/Disabled Emergency Home Repair program is often contacted by e M= na isame toreMMMW"O---- Continuum of Care's burden with additional homelessness. If Zff= flq AP-75 Barriers to affordable housing ` Introduction Actions planned 1 remove or i of public policies ordinances, building codes, fees and charges, growth limitations, and policies affecting the return on r . Annual Action Plan 2017 OMB Control No: 2506-0117 (exp. 07/31/2015) M quTITMJ M= LM=- = =--nn= • =I. - a tIq44 0 ZTIIII47_IkR Vw_-mw.A;ihlefundin toovercome the lack • sufficient funds to address all the underserved needs. The city of Yakima Office of Neighborhood development services continues to partner with many non- tn assh-t LT, MT��M AS discussed tnrougnout Yakima has a wide variety of programs directed at maintaining affordable existing housing through Rehabilitation, as well as new single family dwellings through it's homeownership programs. Actions planned to reduce lead-based paint hazards �4 7A-WL As discussed in tne ilve Mar LoWAMWO-M-7 I I .71menmop-mv, 7W Services aligns all it's Rehabilitation programs with the Washginton State Lead Based Paint regulations and continues to "Presume" any disturbed paint surfaces are "possible lead hazzards" and thus are treated according to the states regulations and HUD's lead based paint policy. TM %IIY=M � MXRST�_ ie(e it •• tential lead baseA MI OF =$- M;rTTTT-I=- - c and jobs to Yakima that pay decent living wages, as well as encourage growth and development of existing opportunites to assist poverty level familes. See the Economic Development portion of the plan for more information. = F=- -try- • =4m consultants and other government bodies outside Yakima to strengthen and enhance the current institutional structure. We will continue to seek out partnerships with organizations as well as private enterprise to further develop the institutional structure. service agencies The City • Yakima through the Office of Neighborhood Development Services will continue to ronsultation to coordinate services to the Yakima citizens. F#17= The City of Yakima Office of Neighborhood Development Services has served it's community for nivAlm MUM city of Yakima has been focused • being a good steward • both CDBG and HOME Investment funds and stretching those dwindling resources to the best of our ability in serving our community. 7111 Y TV%rPVr4 . - - ilka neighborhoods and partners in effectively using our entitlement funds. OMB Control No: 2506 -0117 (exp. 07/31/2015) -W I r, =I 4 • Due to the limited A41i tunding, the Lity • faMma eXpencis-eleri, possible to benefit it's citizens within its ONDS programs as per HUD's requirements. This means that any program income, float-funded activities or section 108 loan guarentee funds are infused within appropriate programs and the funding utilized as per HUD regulations concerning Eligible Activities to Community Development Block Grant Program (CDBG) Reference 24 CFR 91.220(1)(1) xtifiel-im-6.- Projects Table. The following identifies program income that is available for use that is included in ;rrojects to be carried out. III of L310 MAM11IM1111113"M =.- PTTM�T 1. The amount of urgent need activities 0 Annual Action Plan 36 2017 OMB Control No: 2506-0117 (exp. 07/31/2015) HOME Investment Partnership Program (HOME) Reference 24 CFR 91.220(1)(2) 1. A description of other forms of investment being used beyond those identified in Section 92.205 as follows: INFIRM 1 a • 111 I I Il 1=d- t =I- a Ill :11 1 I 1; Both "Non-Federal" and HOPE 3 funding sources are other forms of investment being used as needed beyond those identified in Section 92.205. projects. 2. A description of the guidelines that will be used for resale or recapture of HOME funds when used for homebuyer activities as required in 92.254, is as follows: I ! Ill I I I I I I I I I I I I I I I iI I I I I I I I I !III I I 1 4 - 11111711=611r, MT ry When the City of Yakima makes a loan of HOME funds, that loan is secured by a promisso ,note] X WrIlill event of a sale. the affordability period "Full Recapture" provision goes into effect, and in the even of sale, foreclosure, will trigger repayment of the entire HOME direct subsidy loan amount (Recapture). 0 3T@Mpare req AS per re to the limitation that when the recapture requirement is triggered by a sale (voluntary or involuntary) of the housing unit, the amount recaptured cannot exceed the net proceeds, if any. Annual Action Plan 37 2017 OMB Control No: 2506-0117 (exp. 07/31/2015) 3. A description of the guidelines for resale or recapture that ensures the affordability of units acquired with HOME funds? See 24 CFR 92.254(a)(4) are as follows: - 6 0 . 0 • 'MM 7MMOMIMMEE Me * M- • W - Wo. N 1-*## is ■ 1011- Im I I �� I I I III I R II! I • - ITMNM�� I 1 0 • . the affordabty period "Full Recapture" provision goes into effect, and in the even of sale, foreclosure, will trigger repayment of the entire HOME direct subsidy loan amount (Recapture). The Recapture amount is based on net proceeds from the voluntary sale or foreclosure. The net proceeds of a sale are the sales price minus non-Home loan repayments and any closing costs. As per regulation 92.545 (ii)(A) says in establishing the ?Ts recapture requ1rFftreMT,7R7?7T771b-j-eTj to the limitation that when the recapture requirement is triggered by a sale (voluntary or involuntary) of the housing unit, the amount recaptured cannot exceed the net proceeds, if any. 4. Plans for using HOME funds to refinance existing debt secured • multifamily housing that is rehabilitated with HOME funds along with a description of the refinancing guidelines required that will be used under 24 CFR 92.206(b), are as follows: 1. Plans for using HOME funds to refinance existing debt secured by multifamily housing that is rehabilitated with HOME funds along with a description of the refinancing guidelines requireII i he uty ot TaKlma currentiy nas no housing that is rehabilitated with HOME funds. If such actions are decided by the Yakima City • Z= W. guidelines will be defined at that time as part of the Amendment. YNFU—Llrl • - L I , , lei 4 of one year, used to determine that a minimum overall benefit of 100% of CDBG funds is used to benefit persons of low and moderate income. The year specified is this Annual Action Plan of 201 N W ZUBM ELI