Laserfiche WebLink
BUDGET NARRATIVE <br />1. Funding Utilization: Describe how the funds will be used to support the proposed <br />project. For example, will the funds be used for staff time, supplies, consultants, <br />contractors, construction costs, direct customer services, etc.? (250 words max.) <br />KCHFH is requesting $60,000 over a 6 -year period to be used to provide home repair services for 14 <br />repair projects for qualified low-income homeowners. <br />Estimated Total Repair Costs: <br />$10,000 project -14 projects <br />Grant Funding Requested from County <br />Amount to be raised by KCHFH <br />$140,000 <br />$ 60,000 <br />$ 80,000 <br />The request breaks down to KC providing approximately $4,285.71 in repair costs per home for the next <br />14 Home Repair projects. The Repair Program includes work that extends the life of the house and <br />increases safety, accessibility or qualify of life for the homeowner. The requested funding will <br />supplement Habitat's fundraising efforts. To qualify for repairs, a family must be a low-income <br />homeowner, demonstrate need, be willing to volunteer hours to the project and be able to make a small <br />monthly payment for the repair loan, which is financed by Habitat for Humanity at zero percent interest. <br />The homeowner's loan payment plus current mortgage payment will not exceed 30% of their gross <br />monthly income. <br />Habitat for Humanity will provide 57% of the funding for each repair project with the KC affordable <br />housing grant funds providing 43% of the funding for each project (materials, subcontractor's fees, <br />waste disposal, permits, etc.) If some repairs require less than $10,000 per repair, we will use the County <br />funding to repair additional homes using the same breakdown in funding -KCHFH -57% of the costs of <br />the repair and the KC 2060 grant -43%. <br />14