TITLE
title
JOINT COOPERATIVE AGREEMENT FOR GREENSBORO/GUILFORD COUNTY HOME CONSORTIUM
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SPONSOR
sponsor
J. Leslie Bell, Director, Planning and Development
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BACKGROUND
background
The City of Greensboro, as Lead Entity of the Greensboro/Guilford County Housing Consortium, seeks to renew the existing Joint Cooperative Agreement between the City of Greensboro and Guilford County (resolution attached). The last amended agreement was approved by the Board of Commissioners on Sep. 28, 2022. The Greensboro/Guilford HOME Consortium, with BCC approval, would be renewing for the three-year consortium qualification period 2025-2027 beginning July 1, 2025 ending June 30, 2028. The City of Greensboro set the resolution and agreement for the June 3, 2025 City Council meeting with the City indicating that it will route the resolution and agreement (draft agreement attached) upon approval by the City Council. The signed agreement will need to be sent to HUD by June 30, 2025.
Approval of this resolution also approves Guilford County's right to participate (renewal letter attached) and authorizes approval of the consortium agreement, in substantial form, for a three year period effective July 1, 2025. As the Housing Consortium Lead Entity, the City of Greensboro is responsible for Consortium compliance with HUD requirements and has the authority to disperse HUD-granted HOME funds among HOME consortium member(s). HOME funds vary from cycle to cycle and can be used to finance a wide variety of affordable housing activities that generally fall into the following six (6) categories:
1) New construction of owner-occupied housing;
2) Rehabilitation of owner-occupied housing;
3) Assistance to home buyers;
4) New construction of rental housing;
5) Rehabilitation of rental housing; and,
6) Tenant-based rental assistance.
While HUD funding varies from funding cycle to funding cycle, from FY16/17 - FY21/22, Guilford County's annual allocated budget has averaged $120,098...
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