July 1, 2012 thru September 30, 2012 Performance ... - City of Kokomo

July 1, 2012 thru September 30, 2012 Performance Report

B-08-MN-18-0008Grant:

Kokomo, INGrantee:

1

Community Development SystemsDisaster Recovery Grant Reporting System (DRGR)

Grant Number:B-08-MN-18-0008

Grantee Name:Kokomo, IN

Grant Amount:$2,181,088.00

Estimated PI/RL Funds:$535,629.47

Obligation Date: Award Date:

03/19/2013

Contract End Date:Submitted - Await for Review

Review by HUD:

Total Budget:$2,716,717.47

Disasters:

NSP

Declaration Number

N/ATotal Projected Budget from All SourcesThis Report Period

$2,716,717.47

To DateOverall

NarrativesAreas of Greatest Need:

Using data provided by the U.S. Department of Housing and Urban Development, the following Block Groups in the City of Kokomo weredetermined to be areas of greatest need for the NSP program. They were selected to be targeted based on the greatest percentage of homeforeclosures, the highest percentage of homes financed by a subprime mortgage related loan &ndash HMDA high cost loan rate, and beingidentified as likely to face a significant rise in the rate of home foreclosures within 18 months. CT2 - BG1, BG2 BG3 CT3 - BG1, BG2, BG3CT4 - BG1, BG2, BG3 CT5 - BG1, BG2, BG3, BG4 CT6 - BG1 CT9 - BG1, BG2, BG3, BG4 CT10 - BG1, BG2 CT12 - BG1, BG2, BG3 CT13 -BG2 (partial) CT15 - BG1

Distribution and and Uses of Funds:

Within the targeted areas, NSP funds will be used to: 1) Purchase and rehabilitate homes and residential properties that have beenabandoned or foreclosed upon in order to sell, rent, or redevelop such homes and properties ($1,395,000 allocated). 2) Establish financingmechanisms for purchase and redevelopment of foreclosed upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserves, and shared-equity loans for low- to middle-income homebuyers ($315,127 allocated). 3) Establish financingmechanisms for purchase and redevelopment of foreclosed upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserves, and shared-equity loans for landlords who will be required to rent primarily to individuals or families at or below50 percent of area median income ($252,853) allocated). Affordability will be maintained for periods of five, ten or fifteen years determined bythe amount of funds invested.

Definitions and Descriptions:

Low Income Targeting:

Acquisition and Relocation:

Public Comment:

Active

QPR Contact:Grant Status:Jerry Meiring

2


$52,036.82

$2,009,105.84

$0.00

$0.00

$197,103.64

Total Obligated

$788,268.30

$0.00

Total Funds Expended

Program Income Drawdown

Total Budget

$0.00 $535,629.47

Match Contributed

Program Funds Drawdown

$1,972,587.29

$2,716,717.47

$2,716,717.47

Program Income Received

$0.00

$0.00

The Kingston Demolition project is now 95% complete, where additional CDBG funds were leveraged to addresssome additional soil remediation that was found to exist. The City is currently waiting on final State environmentalclearance reports. The City's partnering Developer is then expected to begin construction on a 68-unit LIHTCaffordable housing project.To date, a total of 14 homes have been acquired, rehabbed and sold to low- to middle-income households. Elevenof the 14 homes were sold to qualifying persons or families with incomes at or below 50% AMI.FINANCIAL NOTES: 1) Need to follow-up with DRGR help desk concerning the correction of "double entry errors" regarding "PI receiptedin" on Project A6, and also regarding total PI drawn, which is currently overstated.2) After consulting with the DRGR help desk regarding the correction of developer fee payments (which werepreviously drawn incorrectly from the Admin Account), the "revise voucher" method was used in this report period onvarious activity draws. After the revisions were completed, 100% of these funds (developer fee payments) weresuccessfully reallocated to the individual projects as eligible expenses. A detailed spreadsheet is on file to explainthe method of reallocation.

Overall Progress Narrative:

Progress Toward Required Numeric Targets

$103,104.92

$0.00

To Date

Limit on Public Services

$0.00

0.00%0.00%

Overall Benefit Percentage (Projected)

$103,104.92

Requirement

Limit on State Admin $0.00

$0.00

Limit on Admin/Planning

$327,163.20

Required

$218,108.80

Minimum Non-Federal Match

Progress Toward Activity Type Targets

Progress Toward National Objective TargetsNational Objective Target ActualNSP Only - LH - 25% Set-Aside $545,272.00 $1,464,058.31

Overall Benefit Percentage (Actual)

$249,140.46 $2,797,374.14Total Funds Drawdown

3


Project SummaryProject #, Project Title This Report Period To Date

Program FundsDrawdown

Project FundsBudgeted

Program FundsDrawdown

1, Acquisition/Rehabilitation/ Sale to Low to Middle-Income $144.00 $1,357,542.75 $1,210,960.42

2, Home Purchase- VOID $0.00 $0.00 $0.00

3, Acquisition/Rehabilitation/Sale to Low-Income (25% setaside) $96.00 $731,391.72 $540,346.88

4, Administration $6,353.64 $218,108.00 $13,913.11

5, Kingston Demolition $190,510.00 $409,675.00 $243,885.43

9999, Restricted Balance $0.00 $0.00 $0.00

4


Activities

Grantee Activity Number:

Projected Start Date:

Benefit Type:

Overall

$144,387.34

NSP Only - LH - 25% Set-Aside Developer

Total Projected Budget from All Sources

Match Contributed

$144,387.34

($167.65)

$0.00

$0.00

$144,387.34

$131,923.03

Total Budget

National Objective:


Activity Status:


Total Funds Drawdown

Projected End Date:

Completed Activity Actual End Date:

Total Obligated

A1

$1,550.89

$26,734.18

$1,550.89

Jul 1 thru Sep 30, 2012

Activitiy Category:

$3,699.64

$0.00

N/A

03/31/2010

($167.65)

To Date

12/18/2009

Direct Benefit (Households)

$143,869.98


Responsible Organization:

$0.00

Rehabilitation/reconstruction of residential structures Under Way

Activity Description:

Property acquisition and rehabilitation of 1205 S. Armstrong. Home targeted for sale to low- to middle-income homebuyers.

Location Description:

1205 S. Armstrong, Kokomo, Indiana 46902

The NSP home at 1205 S Armstrong was sold to a low-income household on 6/30/2010.

Activity Progress Narrative:

Owner Project 1 - 1205 S. ArmstrongActivity Title:

Project Number:

1

Project Title:

Acquisition/Rehabilitation/ Sale to Low to Middle-Income

$131,923.03$0.00Developer

Accomplishments Performance MeasuresThis Report Period Cumulative Actual Total / Expected

Total Total

3/1# of Properties 0

This Report Period Cumulative Actual Total / Expected

Total Total

$0.00 Program Funds Drawdown $140,170.34

5


No Activity Locations found.

Activity Locations

No Other Funding Sources Found

Other Funding Sources Amount

Total Other Funding Sources

No Other Match Funding Sources Found

Other Funding Sources Budgeted - Detail

3/1# of Housing Units 0

3/1# of Singlefamily Units 0

Beneficiaries Performance MeasuresThis Report Period Cumulative Actual Total / Expected

Low Mod Total Low Mod Total Low/Mod%

0 1/0 0/1 1/1# of Households 0 0 100.00

0 1/0 0/1 1/1# Owner Households 0 0 100.00

6




Benefit Type:

Overall

$183,211.18



Match Contributed

$183,211.18

$0.00

$0.00

$0.00

$183,211.18

$172,310.47

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A2

$1,598.89

$52,431.63

$1,550.89


Activitiy Category:

$2,418.39

$0.00

N/A

03/31/2010

$0.00

To Date

12/18/2009


$183,024.17



$0.00



Property acquisition and rehabilitation of 1202 N. Webster. Home target for sale to low- to middle-income homebuyers.


1202 N. Webster Street, Kokomo, Indiana 46901

The NSP home at 1202 N. Webster was sold to a low-income household on 6/10/2010.


Owner Project 2 - 1202 N. WebsterActivity Title:

Project Number:

1

Project Title:


$172,310.47$0.00Developer


Total Total



Total Total




7



Activity Locations








0 0/0 0/1 0/1# of Households 0 0 0

0 0/0 0/1 0/1# Owner Households 0 0 0

8




Benefit Type:

Overall

$124,702.30



Match Contributed

$124,702.30

($9,949.89)

$0.00

$0.00

$124,702.30

$41,038.44

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A3

$1,550.89

$17,364.44

$1,550.89


Activitiy Category:

$75,416.55

$0.00

N/A

04/30/2010

($9,949.89)

To Date

01/15/2010


$124,702.30



$0.00



Property acquisition and rehabilitation of 1607 N. McCann. Originally targeted for sale to low- to middle-incomehomebuyers....sold to a qualifying low-income homebuyer.


1607 N. McCann, Kokomo, Indiana 46901

The NSP home at 1607 N. McCann was sold a low-income person (FHH) on 8/26/2011.


Owner Project 3 - 1607 N. McCann StreetActivity Title:

Project Number:

1

Project Title:


$41,038.44$0.00Developer


Total Total



Total Total



9



Activity Locations








0 1/0 0/1 1/1# of Households 0 0 100.00


10




Benefit Type:

Overall

$126,834.15



Match Contributed

$126,834.15

$0.00

$0.00

$0.00

$126,834.15

$115,152.57

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A4

$1,550.89

$56,342.23

$1,550.89


Activitiy Category:

$2,749.26

$0.00

N/A

04/30/2010

$0.00

To Date

01/15/2010


$126,149.14



$0.00



Property acquisition and rehabilitation.


1406 Nicholas Ct, Kokomo, Indiana 46901

The NSP home at 1406 Nicholas Ct. was sold to a low-income household on 7/27/2010.


Owner Project 4- 1406 Nicholas CourtActivity Title:

Project Number:

1

Project Title:


$115,152.57$0.00Developer


Total Total



Total Total



11



Activity Locations








0 1/0 0/1 1/1# of Households 0 0 100.00


12




Benefit Type:

Overall

$138,865.24



Match Contributed

$138,865.24

$0.00

$0.00

$0.00

$138,865.24

$128,119.53

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A5

$1,550.89

$58,101.20

$1,550.89


Activitiy Category:

$2,038.39

$0.00

N/A

04/30/2010

$0.00

To Date

01/22/2010


$138,405.23



$0.00



Acquisition and rehabilitation of 3609 Oakhurst Drive by Mecca Companies, Inc., through NSP Holdings, LLC. Originallytargeted as LMMI, this property now has an identified, qualifying homebuyer at <50% MFI.


3609 Oakhurst Drive, Kokomo, IN 46902

The NSP home at 3609 Oakhurst was sold to a very low-income household on 6/10/2010.


Owner Project 5 - 3609 OakhurstActivity Title:

Project Number:

1

Project Title:


$128,119.53$0.00Developer


Total Total



Total Total



13



Activity Locations








0 1/0 0/0 1/0# of Households 0 0 100.00


14




Benefit Type:

Overall

$118,323.56



Match Contributed

$118,323.56

$0.00

$0.00

$0.00

$118,323.56

$107,302.85

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A6

$1,550.89

$60,432.66

$1,550.89


Activitiy Category:

$2,088.39

$0.00

N/A

04/30/2010

$0.00

To Date

01/29/2010


$117,638.55



$0.00



Acquisiton and rehabilitation of property at 1403 Nicholas Ct. Home originally targeted for sale to low- to middle-incomehousehold. Note: changed National Objective to LM25% set-aside, was able to rehab and sell property to very low-incomefamily.


1403 Nicholas Court, Kokomo, IN 46901.

The NSP home at 1403 Nicholas Ct. was sold to a low-income household on 6/4/2010.


Owner Project 6 - 1403 Nicholas CourtActivity Title:

Project Number:

1

Project Title:


$107,302.85$0.00Developer


Total Total



Total Total



15



Activity Locations









0 1/0 0/1 1/1# of Households 0 0 100.00


16




Benefit Type:

Overall

$181,822.45

NSP Only - LMMI Developer


Match Contributed

$181,822.45

$0.00

$0.00

$0.00

$181,822.45

$139,252.65

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A7

$1,598.89

$32,328.45

$1,550.89


Activitiy Category:

$33,637.48

$0.00

N/A

04/30/2010

$0.00

To Date

01/29/2010


$181,185.44



$0.00



Acquisition and rehabilitation of 614 S. Courtland Ave. Home was later sold to a moderate- to middle-income household.


614 S. Courtland Avenue, Kokomo, IN 46901

The NSP home at 614 S. Courtland was sold to a qualifying lower-income household on 12/20/2010.


Owner Project 7 - 614 S. Courtland Ave.Activity Title:

Project Number:

1

Project Title:


$139,252.65$0.00Developer


Total Total



Total Total




17



Activity Locations








0 1/0 0/1 1/1# of Households 0 0 100.00


18




Benefit Type:

Overall

$170,172.85



Match Contributed

$170,172.85

$0.00

$0.00

$0.00

$170,172.85

$145,094.11

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A8

$1,550.89

$41,911.52

$1,550.89


Activitiy Category:

$16,164.42

$0.00

N/A

04/30/2010

$0.00

To Date

02/12/2010


$169,505.84



$0.00



Acquisition and rehabilitation of 1701 S. Washington Street. Originally targeted for sale to LMMI benefit, home was later sold tolow-income person, so code was changed to LM25.


1701 S. Washington, Kokomo, IN 46902

The NSP home at 1701 S. Washington was sold to a low-income person (FHH) on 7/29/2010.


Owner Project 8 - 1701 S. Washington StreetActivity Title:

Project Number:

1

Project Title:


$145,094.11$0.00Developer


Total Total



Total Total



19



Activity Locations








0 1/0 0/0 1/0# of Households 0 0 100.00


20




Benefit Type:

Overall

$169,223.68



Match Contributed

$169,223.68

$0.00

$0.00

$0.00

$169,223.68

$156,396.98

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

A9

$1,598.89

$68,360.84

$1,550.89


Activitiy Category:

$3,894.40

$0.00

N/A

05/31/2010

$0.00

To Date

03/05/2010


$168,586.69



$0.00



Property acquisition and rehabilitation of 504 Santa Fe Blvd. Home was then sold to a moderate-to middle-income household.


504 Santa Fe Blvd, Kokomo, IN 46901.

The NSP home at 504 Santa Fe Blvd. was sold to a moderate-income household on 8/12/2010.


Owner Project 9 - 504 Santa Fe Blvd.Activity Title:

Project Number:

1

Project Title:


$156,396.98$0.00Developer


Total Total



Total Total




21



Activity Locations








0 0/0 1/1 1/1# of Households 0 0 100.00


22




Benefit Type:

Overall

$144,720.69



Match Contributed

$144,720.69

($50,000.00)

$0.00

$0.00

$144,720.69

$42,306.60

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D1

$1,550.89

$17,626.12

$1,550.89


Activitiy Category:

$92,303.12

$0.00

N/A

03/31/2010

($50,000.00)

To Date

12/18/2009


$142,857.03



$0.00



Property acquisition and rehabilitation. Project originally targeted for resale to investors/landlords who would be under Contractto rent to low-income persons. With a later substantial amendment, the activity performance goal was changed to lower-income, owner-occupied households.


900 E. Richmond, Kokomo, Indiana 46901

The NSP home was sold to a qualifying low-income homebuyer (FHH) on 12/21/2011.


Owner Project 10 - 900 E. RichmondActivity Title:

Project Number:

3

Project Title:

Acquisition/Rehabilitation/Sale to Low-Income (25%

$42,306.60$0.00Developer


Total Total



Total Total



23



Activity Locations









0 1/1 0/0 1/1# of Households 0 0 100.00


0 0/0 0/0 0/0# Renter Households 0 0 0

24




Benefit Type:

Overall

$152,254.97



Match Contributed

$152,254.97

($32,317.77)

$0.00

$0.00

$152,254.97

$65,844.65

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D2

$1,598.89

$22,899.16

$1,550.89


Activitiy Category:

$78,115.01

$0.00

N/A

03/31/2010

($32,317.77)

To Date

12/18/2009


$152,254.97



$0.00



Property acquisition and rehabilitation for 1018 E. Walnut, originally targeted for resale to investors/landlords. With a latersubstantial amendment, the activity performance goal was changed to lower-income, owner-occupied households. Thisproperty, however, was sold to a moderate-income person....so the National Objective Code was changed back to LMMI.


1018 E. Walnut Street, Kokomo, Indiana 46901

The NSP home at 1018 E. Walnut was sold to a moderate-income household on 5/20/2011.


Owner Project 11 - 1018 E. WalnutActivity Title:

Project Number:

3

Project Title:


$65,844.65$0.00Developer


Total Total



Total Total



25



Activity Locations









0 0/1 1/0 1/1# of Households 0 0 100.00



26




Benefit Type:

Overall

$121,575.06



Match Contributed

$121,575.06

($2,410.89)

$0.00

$0.00

$121,575.06

$101,400.50

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D3

$1,550.89

$24,449.97

$1,550.89


Activitiy Category:

$11,927.25

$0.00

N/A

04/30/2010

($2,410.89)

To Date

01/15/2010


$121,575.06



$0.00



Property acquisition and rehabilitation, originally targeted for resale to investors/landlords. With a later substantial amendment,the activity performance goal was changed to lower-income, owner-occupied households. This home, however, was actuallysold to a moderate-income household, so the National Objective Code was changed back to LMMI.


1405 N. Purdum Street, Kokomo, Indiana 46901

The NSP home at 1405 N. Purdum was sold to a moderate-income household on 7/12/2011.


Owner Project 12 - 1405 N. PurdumActivity Title:

Project Number:

3

Project Title:


$101,400.50$0.00Developer


Total Total



Total Total



27



Activity Locations









0 0/1 1/0 1/1# of Households 0 0 100.00



28




Benefit Type:

Overall

$160,112.79



Match Contributed

$160,112.79

($153.80)

$0.00

$0.00

$160,112.79

$148,926.28

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D4

$1,598.89

$28,800.06

$1,550.89


Activitiy Category:

$2,891.20

$0.00

N/A

04/30/2010

($153.80)

To Date

01/15/2010


$160,112.79



$0.00



Property acquisition and rehabilitation, originally targeted for resale to investors/landlords. With a later substantial amendment,the activity performance goal was changed to lower-income, owner-occupied households.


809 E. Vaile Ave, Kokomo, Indiana 46901

The NSP home at 809 E. Vaile was sold to a qualifying low-income homebuyer on 8/6/2010.


Owner Project 13 - 809 E. Vaile Ave.Activity Title:

Project Number:

3

Project Title:


$148,926.28$0.00Developer


Total Total



Total Total




29



Activity Locations








0 1/1 0/0 1/1# of Households 0 0 100.00



30




Benefit Type:

Overall

$137,190.09



Match Contributed

$137,190.09

$0.00

$0.00

$0.00

$137,190.09

$124,998.02

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D5

$1,550.93

$27,847.01

$1,550.93


Activitiy Category:

$5,341.41

$0.00

N/A

04/30/2010

$0.00

To Date

01/15/2010


$138,586.90



$0.00



Property acquisition and rehabilitation, originally targeted for resale to investors/landlords. With a later substantial amendment,the activity performance goal was changed to lower-income, owner-occupied households.


1121 S. Elizabeth Street, Kokomo, Indiana 46902.

The NSP home at 1121 S. Elizabeth was sold to a qualifying low-income household on 9/29/2010.


Owner Project 14 - 1121 S. ElizabethActivity Title:

Project Number:

3

Project Title:


$124,998.02$0.00Developer


Total Total



Total Total




31



Activity Locations








0 1/1 0/0 1/1# of Households 0 0 100.00



32




Benefit Type:

Overall

$15,538.12



Match Contributed

$15,538.12

$0.00

$0.00

$0.00

$15,538.12

$15,538.12

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

D6

$0.00

$0.00

$0.00


Activitiy Category:

$0.00

$0.00

N/A

05/31/2010

$0.00

To Date

03/05/2010


$15,538.12



$0.00



Acquisition and rehabilitation of property at 2301 N. Armstrong. Originally targeted for resale to investor/landlord, project latercancelled.


2301 N. Armstrong, Kokomo, IN 46901

This activity was cancelled in March 2010, due to problems with the home inspection. No further activity is planned.


Cancelled Project - 2301 N. ArmstrongActivity Title:

Project Number:

3

Project Title:


$15,538.12$0.00Developer


Total Total



Total Total



33



Activity Locations








0 0/0 0/0 0/0# of Households 0 0 0


34




Benefit Type:

Overall

$218,108.00

N/A City of Kokomo


Match Contributed

$218,108.00

$0.00

$0.00

$0.00

$218,108.00

$117,817.49

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

E

$36,677.96

$0.00

$30,324.32


Activitiy Category:

$89,191.81

$0.00

N/A

02/13/2013

$0.00

To Date

02/13/2009

N/A

$103,104.92



$0.00

Administration Under Way


Administration of NSP program


City Hall 100 S. Union Street Kokomo, IN 46901


AdministrationActivity Title:

Project Number:

4

Project Title:

Administration

No Accomplishments Performance Measures found.

Accomplishments Performance Measures

No Beneficiaries Performance Measures found.

Beneficiaries Performance Measures

$6,353.64 Program Funds Drawdown $13,913.11

35



Activity Locations






36




Benefit Type:

Overall

$409,675.00

NSP Only - LMMI City of Kokomo


Match Contributed

$409,675.00

$95,000.00

$0.00

$0.00

$409,675.00

$219,165.00

Total Budget

National Objective:


Activity Status:



Projected End Date:


Total Obligated

NSP-F

$190,510.00

$0.00

$0.00


Activitiy Category:

$366,391.58

$0.00

N/A

04/30/2012

$95,000.00

To Date

12/21/2011


$610,277.01



$0.00

Clearance and Demolition Under Way


Demolition and clearance of an abandoned and vacant commercial building. Once demolition and site clearance has beencompleted, Developer is to construct a 68-unit affordable housing complex on the site.Project was modified to include increased costs of demolition/clearance, including extra soil removal and site remediation.


The project is located in the "Northwest NSP3 Target Area" which is bounded on the north by Kirk Street, on the east byWebster Street, on the south by Preble Street, and on the west by Courtland Avenue. Project address is 1495 N. WebsterStreet.

This project was leveraged with additional CDBG funding to address some additional soil remediation, which was found neededfor compliance with state environmental requirements.


Kingston Demolition and Clearance ProjectActivity Title:

Project Number:

5

Project Title:

Kingston Demolition

$219,165.00$0.00City of Kokomo


Total Total


$190,510.00 Program Funds Drawdown $243,885.43

37



Activity Locations







Total Total


0/68# of Multifamily Units 0



0 0/0 0/68 0/68# of Households 0 0 0


38


July 1, 2012 thru September 30, 2012 Performance ... - City of Kokomo

Documents

Transcript of July 1, 2012 thru September 30, 2012 Performance ... - City of Kokomo