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City Council Regular
Meeting Date: 05/21/2019  
Subject:    Adopt Resolution 19-51 Accepting Donation of Funds from the Coon Rapids Mortgage Assistance Foundation/Home Improvement Foundation
From: Kristin DeGrande, Housing Programs Coordinator

The Council is asked to consider accepting $150,000 of Coon Rapids Mortgage Assistance Foundation grant dollars to be used in the City's new Front Door Grant Program.
The Coon Rapids Mortgage Assistance Foundation created a new exterior curb appeal grant program at their December 2018 meeting.  This program was named the Front Door Grant Program and was meant to serve as a pilot program with an initial budget of $100,000.  The Front Door Grant Program was kicked off at the City's annual North Suburban Home Improvement Show in March and was on the front page of the City's newsletter later in the month.  Funds were available on a first come, first served basis.  Over 300 applications were received by the end of April and all of the initial funds were quickly committed. 

Staff met with the Coon Rapids Mortgage Assistance Foundation Board on May 2 to review the activity in the Front Door Grant Program and to request additional funding.  The Board approved $150,000 to be allocated from their Board-operated 82000 fund. Since these funds are being transferred from the Coon Rapids Mortgage Assistance Foundation, a 501(c)(3), to the City to be used for one of the City's home improvement programs, the Council must first accept this donation of funds.
Staff recommends that the Council adopt Resolution 19-51 accepting $150,000 of Coon Rapids Mortgage Assistance Foundation grant dollars to be used in the City's new Front Door Grant Program.

Resolution 19-51

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