Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a second Amendment to the Agreement with Reach, Inc., under the Home Investment Partnerships Program, updating the language of the Agreement and further improving affordability for first-time homebuyers by increasing the subsidy amount to $50,000 per household and agreeing to fund eligible first-time homebuyers in the form of non-repayable loans, at no cost to the Urban County Government. [Div. of Grants and Special Programs, Reynolds]
Summary
Authorization to execute a second Amendment to the Agreement with REACH, Inc. under the HOME Investment Partnerships Program (Reso. 256-2023) to further improve affordability for first-time homebuyers, by increasing the subsidy amount to $50,000 per household and loans will be deferred as long as households remain in the home during the required period of affordability, determined by HUD. No Budgetary impact. (L0310-26)(Reynolds/Lanter)
Budgetary Implications: NO
Advance Document Review:
Law: Yes, Completed by Tiffany Holskey, 4/13/2026
Risk Management: N/A
Fully Budgeted: N/A
Account Number:
This Fiscal Year Impact: $0
Annual Impact: $0
Project:
Activity:
Budget Reference:
Current Balance:
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute a Second Amendment to the agreement, which is attached hereto and incorporated herein by reference, with REACH, Inc., under the HOME Investment Partnerships Program, updating the language of the agreement and further improving affordability for first-time homebuyers by increasing the subsidy amount to $50,000.00 per household and agreeing to fund eligible first-time homebuyers in the form of non-repayable loans, at no cost to the Urban County Government.
Section 2 - That this Resolution shall bec...
Click here for full text