TO: CRA Board of Commissioners
FROM: Joan K. Goodrich, Economic Development Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: August 15, 2018
Title
DELRAY BEACH COMMUNITY LAND TRUST (dbclt) 3rd Quarter FY2017-18
A-Guide Report
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Recommended Action:
Recommendation
Receive and file.
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Background:
The CRA awarded the DBCLT a $194,700 A-GUIDE grant and approved a FY 2017-18 funding agreement on September 28, 2017. The amount represents 25% of the DBCLT’s $777,050 annual budget. The A-Guide grant focuses on affordable housing and was awarded specifically to:
1) Develop housing units for very-low to moderate income households (Sustainable Homeownership Services); and
2) Provide affordable rental units that meet the needs of households within the CRA target area (Rental Housing)
Below are highlights and a snapshot from the CLT’s 3Q FY 2017-18 report ending June 30, 2018.
Delray Beach Community Land Trust Highlights from Evelyn S. Dobson, Chief Executive Director
See attached letter dated July 26, 2018.
Program Snapshot: Sustainable Homeownership Services & Rental Housing
Funding Amount: $194,700 Program Budget: $777,050 % of Budget: 25%
Select Key Program Metrics Annual Total 3Q Totals Year to Date Totals
Total Homebuyer Applications 10 10 20
Total New Certificates of Occupancy - Workforce Housing and Single Family|99 99|
Executed Purchase & Sale Contracts|9999|
Vacant Lots Acquired for New Single-Family|99 99|
Total Homeownership Education Attendees 50 16 57
Developer Fee Income $49,500 $0 $20,277
Rental Housing Lease Agreements 42|99|28
Annual Rental Housing Income $451,380 $119,791 $356,608
Notes: Target date for the completion of 3 newly constructed units is August 31, 2018 for 111 NW 12 Avenue, 706 and 710 SW 2nd Street. Additionally, one new work assignment approved by the DBCLT Board during Q3 with Hatcher Development for the property at 106 SW 14 Avenue. Purchase & Sales co...
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