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 came from a variety of sources including State grants, other Federal grants, <br /> private donations,volunteer labor, and United Way grants. HOME match dollars came from <br /> private donations,volunteer labor, land donations, waived fees/taxes, and banked match. <br /> In 2022 the City of South Bend's Community Homebuyers Corporation (CHC) provided <br /> $220,800.00 of CDBG funds in the form of forgivable mortgage subsidies to nine families, <br /> enabling them to become homeowners. These subsidies were leveraged with $883,200.00 in <br /> private mortgage funding. CDBG provides a mortgage subsidy of 20%of the purchase price of a <br /> home, not to exceed $26,000, and local lenders represented on the CHC board pool their funds <br /> to provide the remaining dollars. CHC offers financing to clients that are typically not <br /> conventionally lendable. Pre-and post-purchase counseling required for the mortgage subsidy <br /> 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 <br /> business community. In 2022, Rebuilding Together completed home repairs for 25 households <br /> in west side neighborhoods of South Bend. Rebuilding Together expended $256,000 in CDBG <br /> funds and it is estimated that donated labor and materials added $2,000, and donated <br /> warehouse rent added an additional $9,900 to the project. <br /> Fiscal Year Summary—HOME Match <br /> 1. Excess match from prior Federal fiscal year 2,821,761 <br /> 2. Match contributed during current Federal fiscal year 83,696 <br /> 3.Total match available for current Federal fiscal year(Line 1 plus Line 2) 2,905,457 <br /> 4. Match liability for current Federal fiscal year 302,238 <br /> 5. Excess match carried over to next Federal fiscal year(Line 3 minus Line 4) 2,603,219 <br /> Table 5—Fiscal Year Summary-HOME Match Report <br /> CAPER 18 <br /> OMB Control No:2506-0117(exp.09/30/2021) <br />