Agenda Item Name:
Title
Sub-recipient Agreement between Alachua County and Florida Housing Finance Corporation (FHFC) for use of Coronavirus Relief Funds
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Presenter:
Candie Nixon (352) 264-6717
Description:
The Florida Housing Finance Corporation (FHFC), under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has allocated $353, 326.00 to Alachua County
Recommended Action:
Recommended Action
Approve the Sub-recipient Agreement between Alachua County and Florida Housing Finance; Adopt the attached Resolution approving the budget amendment to recognize this new funding; Grant authorization for Michele L. Lieberman, County Manager, to sign any subsequent sub recipient agreements.
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Prior Board Motions:
None
Fiscal Consideration:
Fiscal Consideration
Unanticipated Revenue
154.00.0060.331.2000 $353,326.00
Various Expenditure Accounts
154.00.0060.525.xx.xx
Project # 6200002-SHIP - COVID-19 Stimulus
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Background:
The State of Florida has received an award of funding through the Coronavirus Relief Funds (CRF). The state allocation of $120 million is to be administered through the State Housing initiative Program (SHIP) infrastructure. This funding specifically SHIP will utilize the methodology and limitations that operate the SHIP program for ease of administration. However, CRF is not a SHIP program.
The Alachua County allocation was determined using the reemployment rate within each county. Funds disbursed to the county and eligible cities will adhere to the SHIP population methodology. County disbursement will occur in two cycles in two rounds of payments. The first round of payment will coincide with the receipt of an executed sub recipient agreement. The FHFC anticipates that the second payment issuance is expected in September or October 2020.
The allocations for this round of funding are between $175,000 (county minimum) and $7.5 million (county maximum).
These funds must only be used to mitigate an impact cause...
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