2010-2014 Consolidated Plan - City of Champaign

Leveraging ResourcesDuring the upcoming year, the City of Champaign will provide other sources of funding or bond authority,a financing mechanism, for several programs that will in turn leverage thousands of additional dollars inprivate or other government resources. The following paragraphs describe examples of programs thatencourage the contribution of substantial additional resources.To expand its ability to address whole house renovation needs, the City was able to create a partnershipwith Busey Bank for the Full Home Improvement Program. This partnership began in 2001 and continuesto this day. The bank provides market rate loan funding to match the City’s investment in rehabilitationprojects for households between 50% and 80% of the median family income (MFI). In 2009, the Cityreceived an additional $60,000 from the Federal Home Loan Bank (FHLB) of Chicago to provide smallgrants to eligible Full Home Improvement Program applicants. A total of $617,000 has been awarded bythe Federal Home Loan Bank of Chicago in prior years for the City’s rehab programs.The Acquisition Rehabilitation Program leverages HOME dollars (down payment, rehabilitation) withlender financing in order to assist low-income homebuyers with affordable housing. The programprovides up to 10% downpayment to ensure affordability and reduced private mortgage insurance costswhile also bringing the house fully up to code with the rehabilitation component. This program alsorequires post-purchase counseling components, such as civic involvement, debt and credit management,and home maintenance training.Other Agency ResourcesThe following agencies will be undertaking activities or programs designed to meet one or more of thepriority needs identified in the Annual Action Plan. The City’s Urban Renewal funding will leveragesignificant additional resources as indicated in the table that follows.Table 1-3: Public Service ActivitiesPartner Agency Type of City Funding City Funding Agency LeverageCommUnity Matters Program(Unit 4 School District, ChampaignPark District, Don Moyer Boys andCDBG (public service) $125,384 $350,000Girls Club, YMCA, Parkland Urban Renewal (local) $60,000College)SUMMARY OF ACTIVITIES PLANNEDIn the coming year, the City will undertake a wide variety of housing and neighborhood improvementactivities to address the goals and objectives outlined in the five-year Consolidated Plan. The activitiesare described in greater detail in the following Chapter 3, with each activity listed following the specificgoal and objective it is meant to address. Where resources have been identified to carry out the activityin FY 2010/11, the source and amount are provided in the table with each activity.Summary of Activities Planned to Foster and Maintain Decent, Safe, Affordable HousingThe Consolidated Plan and the Neighborhood Wellness Plan will guide the policy decisions made by theCity Council to improve and maintain the City’s affordable housing. As time and resources allow, Citystaff plan to undertake several new initiatives to reverse declining conditions in some planning areas. Formany years, the City has focused much of its federal funding on housing rehabilitation programs targetedto low/moderate-income households and the planning areas where concentrations of low/moderateincomefamilies reside. Although the data suggests that these efforts have successfully forestalled thedecline in housing conditions in most neighborhoods, some of the worst individual cases of blightingproperties still exist. While not abandoning existing rehab efforts, staff will examine new techniques forFY 2010/11 Annual Action Plan: Resources, Barriers, and Program Requirements 93