Share to Facebook Share to Twitter Bookmark and Share
File #: 18-0069 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 8/9/2018 In control: Community Redevelopment Agency
On agenda: 8/15/2018 Final action:
Title: DELRAY BEACH COMMUNITY LAND TRUST (dbclt) 3rd Quarter FY2017-18 A-Guide Report
Attachments: 1. Agenda Cover Report, 2. 3Q FY 17-18 A-Guide CLT
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

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

Body

Recommended Action:

Recommendation

Receive and file.

 

Body

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

8

0

1

Executed Purchase & Sale Contracts

5

4

8

Vacant Lots Acquired for New Single-Family

3

0

3

Total Homeownership Education Attendees

50

16

57

Developer Fee Income

$49,500

$0

$20,277

Rental Housing Lease Agreements

42

8

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 contracts executed at 23 and 27 SW 14th Avenue, 710 SW 2nd Street and 49 NW 13th Avenue during quarter three.

 

CRA Attorney Review:

N/A

 

Finance Review:

N/A

 

Funding Source/Financial Impact:

CRA G/L #:  7376 A-Guide Funding

 

Timing of Request:

N/A