Authorize the City Manager to execute a two-year agreement, with two two-year renewal options, approved as to form by the City Attorney, with Business and Community Lenders of Texas dba BCL of Texas and/or its affiliate for the administration, management, and implementation of the Dallas Homebuyer Assistance Program - Not to exceed $912,965.00 - Financing: Community Development Block Grant Funds ($287,035.00), HOME Investment Partnerships Program Funds ($325,615.00), Equity Tax Increment Financing Oak Cliff Gateway District Funds ($400,000.00) and Equity Tax Increment Financing Deep Ellum District Funds ($187,350.00) *In alignment with Dallas Housing Resource Catalog.

The City Council is authorizing the City Manager to execute a two-year agreement with Business and Community Lenders of Texas (BCL of Texas) and/or its affiliate to administer, manage, and implement the Dallas Homebuyer Assistance Program (DHAP). This agreement has two two-year renewal options. The total contract amount is not to exceed $1,200,000.00. The funding will come from a combination of sources: Community Development Block Grant Funds ($287,035.00), HOME Investment Partnerships Program Funds ($325,615.00), Equity Tax Increment Financing Oak Cliff Gateway District Funds ($400,000.00), and Equity Tax Increment Financing Deep Ellum District Funds ($187,350.00). The program aligns with the City's Dallas Housing Resource Catalog (DHRC) and aims to increase affordable homeownership and mitigate displacement. BCL of Texas will be responsible for marketing the program, verifying participant eligibility, preparing loan contracts, and ensuring compliance with federal, state, and local regulations. A minimum of 87% of the funds must be used for direct delivery of services, with up to 13% for project costs.

This agreement will allow for the continued administration of the Dallas Homebuyer Assistance Program, providing resources to help residents achieve affordable homeownership and potentially prevent displacement. Residents seeking assistance with purchasing a home will benefit from this program, which is funded through a mix of federal grants and tax increment financing.

high