Laserfiche WebLink
Leveraging <br /> Explain how federal funds leveraged additional resources (private, state and local funds), <br /> including a description of how matching requirements were satisfied, as well as how any <br /> publicly owned land or property located within the jurisdiction that were used to address the <br /> needs identified in the plan. <br /> ESG match dollars come from a variety of sources including State grants, private donations,volunteer <br /> labor, and United Way grants. HOME match dollars come from private donations,volunteer labor, land <br /> donations, and waived fees/taxes. <br /> In 2018 the City of South Bend's Community Homebuyers Corporation (CHC) provided $218,642 of CDBG <br /> funds in the form of forgivable mortgage subsidies to twelve (12) families, enabling them to become <br /> homeowners. These subsidies were leveraged with $887,868 in private mortgage funding. CDBG <br /> provides a mortgage subsidy of 20%, not to exceed $22,000 of the purchase price of a home, and local 1 <br /> lenders represented on the CHC board pool their funds to provide the remaining dollars. CHC offers <br /> financing to clients that are usually not conventionally lendable. Pre-and post-purchase counseling <br /> required for the mortgage subsidy program is a major contributing factor to its success. <br /> Rebuilding Together(formerly known as Christmas in April) has aided homeowners in various <br /> neighborhoods throughout the community since 1989. Rebuilding Together has built a strong <br /> relationship with the City of South Bend, local trades, the higher education community and the business <br /> community, allowing the program to grow stronger and more efficient every year. In 2018, Rebuilding <br /> Together completed home repairs for 12 households in the Rum Village neighborhood of South <br /> Bend. Rebuilding Together expended $92,487 in CDBG funds and it is estimated that donated labor and <br /> materials added $116,396, and contractor discounts an additional $1,072, to the project. <br /> Fiscal Year Summary—HOME Match <br /> I <br /> 1. Excess match from prior Federal fiscal year 3,037,806 <br /> 2. Match contributed during current Federal fiscal year 275,749 <br /> 3. Total match available for current Federal fiscal year(Line 1 plus Line 2) 3,313,555 <br /> 4. Match liability for current Federal fiscal year 146,310 , <br /> 5. Excess match carried over to next Federal fiscal year (Line 3 minus Line 4) 3,167,245 <br /> Table 5—Fiscal Year Summary-HOME Match Report <br /> 1 <br /> CAPER 12 ' <br /> OMB Control No:2506-0117(exp.06/30/2018) <br />