Title
MOTION TO ADOPT PROPOSED RESOLUTION NO. 2026-R-14.
PROPOSED RESOLUTION 2026-R-14 IS A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, APPROVING THE FISCAL YEAR 2025-2026 AGREEMENT WITH BROWARD COUNTY PROVIDING FOR DISBURSEMENT OF HOME PROGRAM FUNDS FOR HOMEBUYER/PURCHASE ASSISTANCE PROGRAM; AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO EXECUTE THE AGREEMENT FOR THE DESIGNATION OF SUBRECIPIENT AND DISBURSEMENT HOME PROGRAM, FISCAL YEAR 2025-2026, WITH BROWARD COUNTY IN THE AMOUNT OF $302,419, AND ASSOCIATED DOCUMENTS, IF NECESSARY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
Summary Explanation and Background
1. The City of Pembroke Pines participates in the Broward County HOME Consortium and receives annual funding through the U.S. Department of Housing and Urban Development's (HUD) HOME Investment Partnerships Program (HOME). As a participating jurisdiction, the City is required to execute an Interlocal Agreement with Broward County to receive its annual HOME allocation. Pursuant to the Agreement, Broward County will administer the Homebuyer/Purchase Assistance Program on behalf of the City. Broward County transmitted the Fiscal Year 2025-2026 HOME Program Subrecipient Agreement to the City on July 13, 2026, for execution.
2. For Fiscal Year 2025-2026, the City has been allocated $302,419 in HOME funding under the proposed HOME Program Subrecipient Agreement.
3. The City's HOME allocation will be used to provide purchase assistance to a minimum of two (2) income-eligible households. Eligible households may receive purchase assistance of up to $75,000 per household. Any remaining HOME funds will be used to assist additional eligible households until available funding is exhausted.
4. Assistance will be provided in the form of a 0% interest deferred loan secured by a lien on the assisted property. The affordability period and loan terms will be administered in accordance with HUD HOME Program requirements, including the following:
a. A 15-year affordability period for assistance amounts of $40,000 or greater.
b. A 10-year affordability period for assistance amounts below $40,000.
c. No annual reduction or write-down of the loan balance during the affordability period.
d. Repayment of any outstanding loan balance is required upon the sale, transfer, or lease of the property, or if the assisted property ceases to be the homeowner's primary residence during the affordability period.
5. Administration recommends approval of Proposed Resolution No. 2026-R-14, authorizing the appropriate City officials to execute the Fiscal Year 2025-2026 HOME Program Subrecipient Agreement with Broward County in the amount of $302,419, together with any associated documents necessary to implement the Agreement.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: Grant Funded. Program administered by Broward County through the Broward County HOME Consortium. The maximum amount of HOME Funds allocated to City under this Agreement for County’s administration of the Project shall be Three Hundred Two Thousand Four Hundred Nineteen Dollars ($302,419). This is a budget amendment that will increase both the revenues and expenditure budget by $302,419.
b) Amount budgeted for this item in Account No: Not Applicable.
c) Source of funding for difference, if not fully budgeted: Not Applicable.
d) 5 year projection of the operational cost of the project: Not Applicable.
e) Detail of additional staff requirements: Not Applicable.
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expiration of all function sourcing contracts. This analysis is to determine the financial effectiveness of function sourcing services.
a) Was a Feasibility Review/Cost Analysis of Out-Sourcing vs. In-House Labor Conducted for this service? Not Applicable.
b) If Yes, what is the total cost or total savings of utilizing Out-Sourcing vs. In-House Labor for this service? Not Applicable.