This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
12
for purchase, with the homes to be developed by a local builder once construction on the rental phases is complete. This mix of rental and
homeownership opportunities ensure housing choice for both renters and prospective buyers.
Of the rental units, 79 are designated for project-based rental assistance to prioritize former Ridley Place residents and support community
stability, 48 are reserved for households earning less than 60% of the Area Median Income, and 28 are offered at market rate to expand housing
choice. Construction of Phase III-R was completed in January 2025, with lease-up beginning in March following receipt of temporary
certificates of occupancy. To date, all but one of the market-rate units have been leased. For Phase IV-R, construction has been completed on
the first five townhome buildings, and lease-up is underway. Four units are currently occupied, and additional units are in the inspection process
before families can move in. In addition, site work such as landscaping, sidewalks, and infrastructure improvements is also being carried out to
further enhance the overall community environment. This holistic approach to redevelopment supports long-term revitalization by blending
affordability with market-rate opportunities to meet the diverse housing needs of the community.
MATCH
The match liability for the HOME program for the Federal FY 2024-2025 was $7,085. The match requirement was exceeded due to receiving
$100,000 from the city, other matches totaling $67,841 and an excess match in the amount of $8,861,505 which is available for the next federal
fiscal year.
Fiscal Year Summary – HOME Match
1. Excess match from prior Federal fiscal years
8,700,749
2. Match contributed during current Federal fiscal year
$167,841
3. Total match available for current Federal fiscal year (Line 1 plus Line 2)
$8,868,590
4. Match liability for current Federal fiscal year
$7,085
5. Excess match carried over to next Federal fiscal year (Line 3 minus Line 4)
$8,861,505
Table 5 – Fiscal Year Summary - HOME Match ReportJump to an indexed page (39 of 39)