TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renee A. Jadusingh, Executive Director
DATE: December 10, 2019
Title
Delray beach COMMUNITY LAND TRUST 4th Quarter and year-end FY 2018-19 A-Guide Report
Body
Recommended Action:
Recommendation
Receive and file.
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Background:
The CRA awarded the Delray Beach Community Land Trust (DBCLT) a $261,550 A-GUIDE grant for FY 2018-2019. This award represents 30% of DBCLT’s $865,900 budget. As of the end of the year, the DBCLT raised revenue of $963,834 and had a net income of $181,108.
The A-GUIDE grant was awarded to support Affordable Housing efforts aimed at developing housing units for very-low to moderate income households through sustainable homeownership services; and providing affordable rental units. Below are highlights and program snapshots along with year-end totals from the DBCLT’s fourth quarter FY 2018-2019 A-GUIDE report as of September 30, 2019.
Program Snapshot:
Program “A”: Affordable Housing
Program Information
|
Select Key Program Metrics |
Annual Goals |
4Q Totals |
Year-End Totals |
|
Homeownership |
|
|
|
|
Homeownership pool increase |
7 |
1 |
8 |
|
Homebuyer applications processed |
20 |
5 |
28 |
|
Execute purchase & sale contracts |
7 |
0 |
5 |
|
Certificate of occupancies |
5 |
1 |
3 |
|
New acquisitions |
3 |
0 |
4 |
|
Pre-post purchase workshops |
4 |
1 |
4 |
|
Community event participation |
4 |
6 |
14 |
|
Rental |
|
|
|
|
Applications processed for rental housing |
44 |
21 |
60 |
|
Landlord license renewals processed |
30 |
0 |
35 |
|
Rental Housing Income |
$434,750 |
$113,787 |
$469,361 |
Budget Information
|
Awarded |
$261,550 |
|
Budget |
$865,900 |
|
Actual Revenues |
$963,834 |
|
Actual Expenses |
$782,726 |
|
Actual Net Income |
$181,108 |
Attachments: Exhibit A: Goals & Outcomes Report Final; Exhibit B: FY 18-19 Budget; Exhibit C: PowerPoint Slides
CRA Attorney Review:
N/A
Finance Review:
Lori Hayward, Finance & Operations Director
Funding Source/Financial Impact:
Funding has been allocated from CRA G/L #: 7376 A-GUIDE Funding