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#24-31 - Authorizing the Submission of a 2024 US Department of Housing and Urban Development (HUD) Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program Grant Application for the Valdez Mobile Home Replacement Program
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SUBMITTED BY: Kate Huber, Community Development Director
FISCAL NOTES:
Expenditure Required: Not to exceed $1,900,000
Unencumbered Balance: $1,900,000
Funding Source: 350-8000-55000.585
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Approve Resolution #24-31 Authorizing the Submission of a 2024 US Department of Housing and Urban Development (HUD) Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program Grant Application for the Valdez Mobile Home Replacement Program.
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SUMMARY STATEMENT:
Community Development Department staff is prepared to submit a grant application for the HUD Preservation and Reinvestment Initiative for Community Enhancement (PRICE) program in advance of the deadline on July 10, 2024.
The PRICE program will provide $235 million in funding for communities across the country to preserve and revitalize manufactured housing units and support accessibility modifications, repairs, and replacement of deteriorating manufactured housing units - especially to increase accessibility and access for persons with disabilities, facilitate aging in place for older adults and increase access to affordable housing for low-income households.
Another important focus of the program that is relevant to Valdez is to increase resilience to extreme weather, natural hazards, and disaster events, support energy efficiency, and protect the health and safety of manufactured housing residents.
Due to the age of most mobile/manufactured housing units in Valdez, and the HUD eligibility requirements, the city's application will focus on replacement of local units. If funded, the first part of the program will allow no interest loans to qualifying applicants to purchase manufactured homes that wil...
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