Council approves HOME funds award of $94,700 to NeighborWorks Blackhawk for homebuyer assistance

The Beloit City Council approved a resolution to award HOME Investment Partnership Program funds to NeighborWorks Blackhawk Region for homebuyer assistance. Staff said the city issued an RFP, received a single application from NeighborWorks Blackhawk for $94,700, and recommended awarding the funds to support down-payment assistance and homebuyer training for low- and moderate-income buyers.

Staff explained that the city budget previously set aside $175,000 for homeownership assistance and that carryover funds and timing of federal receipt delayed the RFP until staff confirmed funding. The staff presentation listed recent uses of HOME and related funds: down-payment assistance for properties at 1235 Dewey (a Wisconsin Partnership for Housing Development project), 1418 Prairie (a Community Action / Fresh Start project), and straight down-payment assistance at 1023 McKinley, 1722 Forest and 2029 Nelson. Staff said NeighborWorks had withheld approximately $31,000 of an earlier $75,000 allocation to reserve funds for four new houses coming online this fall; awarding the $94,700 would help fund those units and additional buyers.

Councilor Terrell moved approval; the motion was seconded (recorded as Dents). Council voted in favor by voice vote and the resolution passed. Staff noted NeighborWorks also provides homebuyer training and post-purchase support.

The measure is intended to help low- and moderate-income households move to homeownership, with staff characterizing the NeighborWorks programs as offering counseling and training that increases participant success rates. No public comments were made on the item during the meeting.