09/25/07 Community and Economic Development Committee Minutes

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Community and Economic ®eveiopmet Committee September 25, 2007 Page 2 In response to a question from Council Member Puzzello, Mr. Gibney noted that 30% of the HOME funds plus CIP monies will be used for the Triangle. He noted that historically, CDBG funds were used via a loan arrangement to relocate commercial businesses from the West Washington Street area and that low and moderate income rentals were then assimilated into the development. Approximately a $9 million loan was used for the Studebaker Corridor with the loan being paid back with TIF & COIT funds. Mr. Gibney stated that there is a 20% cap for administrative costs for the projects listed in yellow on the handout; and that there is a 15% cap for the projects listed in blue. In response to a question from Council Member Dieter, Mr. Gibney stated that the $17,000 listed for DTSB, Inc, would be used for Administrative costs with the funding source being the parking lots. Mr. Gibney sfafed that he would send a copy of the updated contract to fhe Office of fhe City Clerk on the parking lot arrangemenf. Mr. Gibney noted that social services requests have been funded at a reduced level of 72% of their request, and that he would be meeting with all social service agencies in the months ahead. In response to a question from Council Member Dieter, Mr. Gibney sfafed that he would provide additional infom~atian on where the bike patrols are to be and more information on the Neighborhood Watch. Mr. Gibney noted that housing funds will be targeted in two (2) basic ways: • Will be invested strategically • Will be available on a city-wide basis for neighborhood revitalization in income eligible locations. He noted that "Rebuilding Together" is the former "Christmas in April" which has hundreds of volunteers with close to a million dollars of donated time and money. Professor Wolfson inquired about the definition of "low and moderate income". Mr. Seller offered fo provide a chart on law and moderate income since if does very depending on fhe federal program. It was noted that generally 8Q% of the median income [$38,OOD] for a family of four (4); with renters being generally 60% of the median income for a family of four (4). It was noted that the monies recommended for the Youth Service Bureau were recommended before St. Joseph County cut their funding to this agency.