08-08-07 Special Called Regular Meeting of Fiscal Affiars Committee

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2 A direct cash contribution to Harris County was $42,202.69. In all, the City paid out $84,000+ in cash and the remainder of the match in waived fees, liens and permits to cover the contractual 25% match and Harris County infrastructure inspections. Note that the City, when acquiring the properties for the grant program, pays either the appraised value or the taxes owed whichever is the lesser amount. The lots requested by Habitat are within the Main Street District (P216-Commercial and Residential Uses) and R-l Single Family Residential (P219-1). Regarding the P216 site, these lots are being reviewed by Staff for possible use within the Main Street District. The appraised value and costs plus taxes owed on the lots at the P216 site are $23,900 and $31,748.20 respectively. Lots 19 through 30 at the P219-1 site are appraised at $84,400 with cost plus taxes set at $40.663.58. The homes built using HOME grant funding by the City must meet standards as set by Harris County. To date, these homes have been brick with 2-car garages. The homes built by Habitat are built to code but offer hardi-plank or similar siding with no garages. The occupants of the homes built using HUD/HOME grant funding and closed using downpayment assistance have an affordability period which requires the buyer to remain in the home from 5-10 years depending on the amount of downpayment assistance used. Typically, Habitat homes have no such requirement. Three options may be considered: . City retains the lots for future HOME grant requests. . City pays the taxes and costs and donates the lots to Habitat and waives development fees as part of the affordable housing project. . City offers the lots to Habitat at cost and waives development fees as part of the affordable housings project.