City of Reading HOME Investment Partnership (HOME) Program Process

City of Reading HOME Program Process 2013

 

 

City of Reading HOME Investment Partnerships (HOME) Program:

Program Process

 

NOTE:This outline summarizes the key steps the City of Reading follows in implementing the City of Reading HOME Program. Applicants interested in learning more about the HOME Program and the City’s HOME Program policies and procedures should refer to the City of Reading HOME Program Guidelines, Application, and Development Proposal form to learn more about the program, or contact the Community Development Department at 610-655-6211 or Reading City Hall Room 3-12.

 

Step 1:

Application: Applicant obtains the HOME Investment Partnerships (HOME) Program Guidelines, Application, and Excel-based HOME Program Development Proposal form from the City of Reading Community Development Department or readingpa.gov.

  • Applicant completes HOME Application and Exhibits 1- 5

  • Applicant submits materials to City of Reading for review

 

Step 2:

Internal Review: City of Reading staff review the Application package: Eligibility, Fundability, Leverage of HOME contribution, Capacity and Experience of applicant, Regulatory compliance history, Market Needs Assessment and Project Feasibility and Alignment of proposal with City of Reading goals and housing strategy.

 

Step 3:

Citizen Participation: If project is recommended by staff for funding, a public comment period is held, followed by a public hearing to comply with the City’s citizen participation requirements.

 

Step 4:

Pre-Award Letter: City issues a commitment letter to the applicant, now referred to as a Subrecipient or Owner/Sponsor/Developer.

  • Pre-award letter specifies the amount of HOME funds awarded to the project, the terms and conditions of the award, and a tentative closing date.

  • The pre-award letter includes the items required for execution of the agreement between the City and the applicant.

 

Step 6:

Submission of Development Proposals: HOME Subrecipient submits an electronic copy of the City’s HOME Development Proposal for each individual project.

 

Step 7:

Internal Review: City of Reading staff review the Development Proposal and complete the following:

  • Subsidy Layering Analysis

  • Environmental Review

  • Site selection review

  • Independent review of the proposed scope of work and construction costs

  • Review of Market Need Assessment and Marketing Plan

 

Step 5:

Closing:

  • Award conference and submission of development proposal(s)

  • Review of HOME requirements and project management process

 

Step 8:

Written Agreements Executed: City prepares written agreement for HOME funds.

 

Step 9:

Approval and Notice to Proceed:

  • Notice to proceed issued for approved development(s)

  • Preconstruction conference

  • Review of HOME requirements and project management guidelines

 

Step 10:

Disbursement of Funds:

  • Project draws available for acquisition, lead abatement and clearance, rough-in inspection and occupancy certification

  • Completion reports are to be submitted and verified by City staff or contractor prior to payment

  • Retainage of 10% to be held until project is occupied and completion data submitted

 

Step 11:

Project Close Out:

  • Submission of HOME completion paperwork and demographic data

  • Final payment

 

Step 12:

Monitoring & Compliance:

  • Subrecipients and developers will be monitored by the City for compliance with the regulations of 24 CFR 92 for the period specified in the HOME agreement based on the affordability period of the project. This will include monitoring of both the acquisition, procurement and construction process, as well the homebuyer eligibility, income verification and sales process.

  • Subrecipients and developers will maintain records and reports and allow access to project files as requested by the City during the PROJECT and for Five (5) years after completion and closeout of the agreement and end of the associated affordability period.