Title
Resolution to Accept and Appropriate a HUD Grant, Approve a Program Contract with HUD, and Approve a Subrecipient Agreement with the Ann Arbor Housing Development Corporation ($3,000,000.00) (8 Votes Required)
Memorandum
This resolution seeks to rescind Resolution R-23-033 and replace it with this resolution. City Council approved a grant agreement with the Federal Department of Housing and Urban Development through the Economic Development Initiative, Community Project Funding for $3,000,000.00, to fund the Ann Arbor Housing Commission's sustainability initiative, and to accept and appropriate these grant funds without regard to City Fiscal Year.
This resolution includes two changes from R-23-033. The first change is that the Ann Arbor Housing Development Corporation ("AAHDC") will be the fiduciary for the grant instead of the Ann Arbor Housing Commission ("AAHC") because the grant is a reimbursement grant and the AAHC does not have sufficient cash reserves to administer a reimbursement grant of this size. The AAHDC is staffed by the AAHC. The second change is that the City will allow the AAHDC to keep all of the administrative fee ($300,000.00) instead of splitting the administrative fee ($50,000.00/$250,000.00).
This HUD grant was secured by Representative Dingell's office for the Ann Arbor Housing Commission to make renovations to its housing to increase energy efficiency with the goal of achieving as close to net zero as possible. The improvements include one or more of the following at 10 AAHC properties: lighting, mechanical systems, windows, insulation, doors, and solar installation.
Budget/Fiscal Impact: No matching funds are required for acceptance of this grant award. The AAHC will leverage other funding sources including DTE incentives and federal Inflation Reduction Act incentives with these grant funds to maximize the impact.
The City will execute a subrecipient grant agreement with the Ann Arbor Housing Development Corporation, a Mich...
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