Lexington-Fayette Urban County Government - File #: 0617-24

• File #: 0617-24
• Version: 2
• Name: Request Council authorization to execute agreements with Qureshi Development Group in the amount of $1,140,728 in federal funds from the HOME Investment Partnerships Program and $272,786 from the American Rescue Plan Act under the U.S. Department of Housi
• Type: Agenda Item
• Status: Agenda Ready
• File created: 6/7/2024
• In control: Grants and Special Programs
• On agenda: 7/9/2024
• Title: Authorization to execute agreements with Qureshi Development Group in the amount of $1,140,728 in federal funds and $272,786 in additional federal funds from the American Rescue Plan Act, both under the U.S. Department of Housing and Urban Development HOME Investment Partnerships Program. Qureshi Development Group will use the funds to convert an existing church to 20 multi-family units. Eight (8) units will be HOME-assisted and three (3) units will be HOME-ARP assisted to provide housing and supportive services to individuals and households who are homeless, at risk of homelessness, and other vulnerable populations. No match funds required. Budget amendments in process. (L0617-24) (Reynolds/Lanter)

Title

Authorization to execute agreements with Qureshi Development Group in the amount of $1,140,728 in federal funds and $272,786 in additional federal funds from the American Rescue Plan Act, both under the U.S. Department of Housing and Urban Development HOME Investment Partnerships Program. Qureshi Development Group will use the funds to convert an existing church to 20 multi-family units. Eight (8) units will be HOME-assisted and three (3) units will be HOME-ARP assisted to provide housing and supportive services to individuals and households who are homeless, at risk of homelessness, and other vulnerable populations. No match funds required. Budget amendments in process. (L0617-24) (Reynolds/Lanter)

Summary

Authorization to execute agreements with Qureshi Development Group in the amount of $1,140,728 in federal funds and $272,786 in additional federal funds from the American Rescue Plan Act, both under the U.S. Department of Housing and Urban Development HOME Investment Partnerships Program. Qureshi Development Group will use the funds to convert an existing church to 20 multi-family units. Eight (8) units will be HOME-assisted and three (3) units will be HOME-ARP assisted to provide housing and supportive services to individuals and households who are homeless, at risk of homelessness, and other vulnerable populations. No match funds required. Budget amendments in process. (L0617-24) (Reynolds/Lanter)

Budgetary Implications: Yes

Advance Document Review:

Law: Yes, Completed by Brittany Smith, 7/2/2024

Risk Management:  N/A

Fully Budgeted: Budget amendments are forthcoming

Account Number:                     

725,000.00	3120-900273-0001-71101	HOME_2024
22,794.75	3120-900273-0001-71101	HOME_2018
91,802.34	3120-900273-0001-71101	HOME_2019
192,370.88	3120-900273-0001-71101	HOME_2020
100,000.00	3120-900273-0001-71101	HOME_2021
8,760.03	3120-900273-0001-71101	HOME_2022
272,786.00	3120-900273-0001-71101	AR_HOME_2022

This Fiscal Year Impact:                     $ 1,413,514

Annual Impact:                      $0

Project:

Activity:

Budget Reference:

Current Balance: BAs in process

Body

{COUNCIL CLERK’S OFFICE WILL COMPLETE - Body of resolution or ordinance}