Q&A
Council Member Avilés inquires about HPD's investment in the Home First program
1:45:18
·
89 sec
Council Member Alexa Avilés asks about the total investment made in the Home First program. HPD representatives provide details on the program's funding, including capital investments and federal home dollars allocated over multiple fiscal years.
- The program has up to $5 million per year across a 5-year plan on the capital side
- For first-time owners under 80% AMI, about $20 million in federal home dollars were budgeted over multiple fiscal years
- On average, $5 to $8 million per year is spent on the program
Alexa Avilés
1:45:18
But in terms of the home first program, what's the total amount of investment that's been made in that program?
Adolfo Carrión Jr.
1:45:27
In terms of the bud to Yeah.
1:45:29
Or would it be okay?
Gardea Caphart
1:45:32
Thank customer.
1:45:33
So for our home for first down payment assistance program sorry.
1:45:42
We have On the capital side, we have the up to 5,000,000 across the 5 year plan, 5 been on per year.
1:45:55
So about 25 minutes, of course, a 5 year plan that it was originally an expense budget.
1:46:00
It was in our tax level expense budget that we're now going to be using capital dials for.
1:46:06
That's for the new program that the commissioner mentioned about for homeowners who earned over 80% of AMIP to 80% to 120 percent AMI.
1:46:17
As far as the original program for owners, for first time owners, owner 80 80 percent AMI.
1:46:25
We use our federal home dollars for for that program.
1:46:29
And we we spent we budgeted about 20,000,000 set aside in home dollars for that program over multiple fiscal years.
1:46:37
On average, you spent about 5 1,000,000 or so per year on that program 5 to 8,000,000 a year, but we can give more information on that later if you need a follow-up
Gale A. Brewer
1:46:46
with them.
Alexa Avilés
1:46:46
No.
1:46:46
Thank you.