IURA Neighborhood Investment Committee

108 E. Green St. Ithaca, NY 14850 (607) 274-6565 AGENDA IURA Neighborhood Investment Committee (NIC) 8:30 am, Friday, October 9, 2020 Virtual Meeting https://us02web.zoom.us/j/88688507240?pwd=ckdTaHVabncyMk1yeUg3UklOemE3 QT09 I. Call to Order II. Changes/Additions to Agenda III. Public Comment IV. Review of Minutes ​– September 2020 V. New Business A. Discussion: 1. Small Business Resiliency Fund​, Tom Knipe, Deputy Director of Economic Development, City of Ithaca and (TBC) Nels Bohn, Director of Community Development, IURA 2. Short Term Rentals and their Impact on Ithaca’s Housing Market​, Tom Knipe, Deputy Director of Economic Development, City of Ithaca 3. Third Round CARES Act CDBG-CV Award VI. Other Business A. IURA Grant Summary B. Staff Report VII. Motion to Adjourn If you have a disability and require accommodation in order to fully participate, please contact the ​C​ITY​ ​OF​ I​THACA​ C​LERK​’​S​ O​FFICE​ at 274-6570 at least 72 business hours prior to the meeting. 108 E. Green St. Ithaca, NY 14850 (607) 274-6565 I​THACA​ U​RBAN​ R​ENEWAL​ A​GENCY​ (IURA) N​EIGHBORHOOD​ I​NVESTMENT​ C​OMMITTEE​ (NIC) DRAFT MINUTES 8:30 A.M., Friday, September 11, 2020 VIRTUAL MEETING In attendance: Karl Graham (Chair); Fernando de Arag॔on (Vice Chair); Tracy Farrell; Teresa Halpert Absent: Paulette Manos Staff: Nels Bohn, Anisa Mendizabal Guests: John Mazzello, Director of Tompkins/Cortland 2-1-1, Humans Services Coalition of Tompkins County Call to Order Graham called the meeting to order at 8:34 a.m. Changes to the Agenda Mendizabal reported that Bohn might join the meeting earlier than indicated originally. Public Comment None. Review of August 2020 Minutes Farrell noted a change to the August Draft Minutes: she left at that meeting at 9.45 a.m. Halpert moved; Farrell seconded with the change indicated. ​Approved 5-0​. New Business A. Discussion: Review of Efforts related to Inclusionary Zoning and Similar Policies,​ Nels Bohn, IURA Community Development Director Bohn began by defining Inclusionary Zoning (IZ) as a policy mandating a percentage of housing within new developments which must be offered at a  lower-than market rate rents and oftentimes establishes the maximum rent that tenants in the “set aside” units can be earn. This can be seen as a way to create affordable housing through an internal subsidy within a project whereby the market-rates units subsidize the affordable ones. IZ is a way to include affordable housing into market-rate developments and sometimes hasa secondary goal of integrating a diverse array of household income levels into a neighborhood or into a single project. Bohn reviewed former IURA Community Development Planner Lynn Truame’s efforts to design a voluntary, incentive-based Inclusionary Zoning (IZ) Ordinance, as well as a mandatory IZ ordinance. For the incentive-based proposal, increased density (or building height), as well as parking waivers, were among incentives discussed. An in-lieu model also existed: housing off-site at another property owned by the developer; renovation was discussed as an in lieu option, as well a financial payment. The mandatory (non-voluntary) IZ proposal never reached Committee. He described concerns policy makers in Ithaca have had with IZ (for example that it would lead to sprawl development; developments would be displaced from the City to nearby jurisdictions without such ordinances). A second concern was that middle-income units would not be built as a possible consequence. A third concern had to do with quantity of housing of all kinds. There was a concern that an IZ ordnance would have an unintended consequence of slowing development overall, resulting in fewer housing units being built. There were concerns that the City didn’t have a lot of “incentives” to offer for a variety of reasons. Limiting the discretion of the Planning Board and allowable minor deviations from guidelines in order to avoid going to the Board of Zoning Appeal were voiced by developers of two incentive areas that might induce them to include more affordable units in their market-rate housing plans. However, these ideas were not appealing to the Planning Board. View Bohn’s discussion in its entirety beginning at minute 5.0 and continuing through minute 47.19 at the link below. https://www.youtube.com/watch?v=RfYIXWOG4Bc B. Presentation: 2-1-1 in the Time of COVID​, John Mazzelo, Director, Tompkins/Cortland 2-1-1, Human Services Coalition of Tompkins County 2-1-1 of Tompkins/Cortland Counties provides information and referrals by call, text, and walk-in (currently paused due to the pandemic). It maintains a vast database of service agencies-- local, state, and federal to assist callers. When the pandemic began, 2-1-1 was mobilized to assist the County in disseminating information. 2-1-1 acted as the official phone bank for  families in Ithaca City School District who had a pandemic-related need for food. In 2020, the volume is up 41% over previous years (due to pandemic-related calls). By early August of 2020, 2-1-1 exceeded its full-year call count for each of the past three years. In the past year, there has been an increase in the number of callers from within the City has increased over previous years (a 12% increase, or 700 contacts). A learning that we may be able to take from it is that the level of need might have been higher inside the City than outside of the City, since out-of-City calls have stayed at about the same levels throughout. Graham asked when Cortland County was added to the service area. Mazzello responded that Cortland was added around 2007. Mazzello showed the Committee how calls (and therefore, needs) have been changing over the past year, and during the pandemic. During the past four weeks, “Basic Needs” contacts are 77% higher than in previous years. Contacts for “Utilities” increased by 50% and “Housing” by 64%. Questions about election and voting are now trending upward. View John Mazzello’s complete presentation, which begins at about minute 49.0 at the link below. https://www.youtube.com/watch?v=RfYIXWOG4Bc Farrell left the meeting. VI. Other Business A. IURA Grant Summary Mendizabal reported that CDBG-CV projects will start showing up on the grant summary next month. B. Staff Report Mendizabal stated HUD Contracts Monitor Charles Pyott and herself have been working on back-office tasks related to the Action Plan and CDBG-CV projects (commitment letters, contracts, interfacing with HUD and reviewing HUD’s COVID-specific guidance, etc.) The team of Ithaca stakeholders involved in the Enterprise Anti-Displacement Learning Network is working on its proposal which is due Oct. 2. This project and the resulting proposal are aimed at helping to meet the City’s anti-displacement goals. VI. Adjournment Graham motioned to adjourn; Halper seconded. ​Approved 3-0​. Meeting adjourned at 10:02 a.m.  U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-7000 ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND DEVELOPMENT September 11, 2020 The Honorable Svante Myrick Mayor of Ithaca 108 E Green Street City Hall 4th Floor Ithaca, NY 14850-5614 Dear Mayor Myrick: I am pleased to inform you of a special allocation to your jurisdiction of Community Development Block Grant funds to be used to prevent, prepare for, and respond to the coronavirus (COVID-19). This allocation was authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, which was signed by President Trump on March 27, 2020, to respond to the growing effects of this historic public health crisis. The CARES Act made available $5 billion in Community Development Block Grant Coronavirus (CDBG-CV) funds. Of this amount, the Department immediately allocated $2 billion on March 27, 2020, the same day President Trump signed the Act, based on the fiscal year 2020 CDBG formula; this constituted the first round of CDBG-CV funds. Next, $1 billion was required by the Act to be allocated to States and insular areas within 45 days of enactment of the Act; HUD accomplished this on May 11, 2020, and this constituted the second round of CDBG-CV funds. Finally, the remaining $2 billion in CDBG-CV funds was required by the Act to be allocated to states and local governments at the discretion of the Secretary on a rolling basis; HUD accomplished this on September 11, 2020, and this constituted the third round of CDBG-CV funds. Additionally, up to $10 million will be set aside for technical assistance. Accordingly, this letter informs you that your jurisdiction’s allocation for the third round is $367,837. Your cumulative amount for all allocation rounds is $769,461. The CARES Act adds additional flexibility for both the CDBG-CV grant and, in some cases, for the annual FY2019 and FY2020 CDBG grants in these unprecedented times. The public comment period is reduced to not less than 5 days, grantees may use virtual public hearings when necessary for public health reasons, the public services cap is suspended during the emergency, and States and local governments may reimburse costs of eligible activities incurred for pandemic response regardless of the date. In addition, the CARES Act authorizes the HUD Secretary to grant waivers and alternative requirements of statutes and regulations the HUD Secretary administers in connection with the use of CDBG-CV funds and fiscal year 2019 and 2020 CDBG funds (except for requirements related to fair housing, nondiscrimination, labor standards, and the environment). Waivers and alternative www.hud.gov espanol.hud.gov requirements can be granted when necessary to expedite and facilitate the use of funds to prevent, prepare for, and respond to coronavirus. The CDBG CARES Act Federal Register Notice (FR-6218-N-01) was released on August 10, 2020. The notice describes the allocations and grant procedures applicable to the CDBG-CV grants. It also describes the program flexibilities, waivers, and alternative requirements that apply to the CDBG-CV grants as well as the fiscal year 2019 and 2020 CDBG grants. As further such flexibilities become available, they will be posted on HUD’s website and distributed to grantees. The Department will also support grantees with technical assistance. As you develop your plan for the use of these grant funds, we encourage you to consider approaches that prioritize the unique needs of low- and moderate–income persons and the development of partnerships between all levels of government and the private for-profit and non- profit sectors. You should coordinate with state and local health authorities before undertaking any activity to support state or local pandemic response. CDBG-CV grants will be subject to oversight, reporting, and the requirement that each grantee have adequate procedures to prevent the duplication of benefits (DOB). HUD will provide guidance and technical assistance on DOB, the prevention of fraud, waste, and abuse, and on documenting the impact of this program for beneficiaries. Reminder, all CPD Grantees must ensure they maintain active Dun and Bradstreet Numbering System (DUNS) numbers in the System for Award Management (SAM) system. Entities must have an active and unexpired DUNS before execution of grant agreements to avoid delays in the obligation of funds- which will delay your ability to drawdown funds in the Integrated Disbursement & Information System (IDIS). Grantees are required to maintain an active SAMs registration by re-activating their DUNS number annually in the SAM system for the entire drawdown period of their grants. DUNS numbers can be registered and renewed each year at the following website: https://www.sam.gov/SAM/. The Office of Community Planning and Development (CPD) is looking forward to working with you to successfully meet the urgent and complex challenges faced by our communities. If you or any member of your staff has questions, please contact your local CPD Field Office Director or CPDQuestionsAnswered@hud.gov. Sincerely, John Gibbs Acting Assistant Secretary for Community Planning and Development U.S. Department of Housing and Urban Development  IURA Grants Summary August 2020 ON PROGRAM TRANSFERS TRANSFERS TOTAL Entitlement Funds PI TOTAL # SCHEDULE HUD ENTITLEMENT ACTIVITIES SPONSOR BUDGET INCOME IN OUT BUDGET EXPENDED UNEXPENDED UNEXPENDED UNEXPENDED % SPENT 2017 HOME Activities 17 2767 canceled 3.0 402 South Cayuga Street Habitat for Humanity 80,000.00 0.00 0.00 80,000.00 0.00 0.00 0.00 0.00 0.00 100% 2768 complete 4.0 Housing Scholarship Program11 The Learning Web 63,980.10 0.00 1,611.90 0.00 65,592.00 65,592.00 0.00 0.00 0.00 100% 2769 complete 5.0 Security Deposit Assistance Catholic Charities 42,750.00 19,950.70 0.00 0.00 62,700.70 62,700.70 0.00 0.00 0.00 100% 2770 complete 21.0 828 Hector Street (CHDO) 23 INHS 41,378.00 4,309.08 0.00 4,309.08 41,378.00 41,378.00 0.00 0.00 0.00 100% 2771 complete 20.0 HOME Admin IURA 27,565.10 0.00 0.00 0.00 27,565.10 27,565.10 0.00 0.00 0.00 100% 12, 17, 23, 24 2807 complete Unallocated 2017 HOME N/A 19,977.80 0.00 84,309.08 104,286.88 0.00 0.00 0.00 0.00 0.00 N/A complete Home Admin (PI)22 N/A 0.00 2,448.76 0.00 0.00 2,448.76 2,448.76 0.00 0.00 0.00 100% 2810 ok Recaptured Funds (HP)15 N/A 0.00 0.00 5,000.00 1,191.86 3,808.14 0.00 3,808.14 0.00 3,808.14 N/A 2809 ok Unanticipated Program Income (PI)8 N/A 0.00 0.00 21,545.00 0.00 21,545.00 0.00 21,545.00 0.00 21,545.00 N/A Total 275,651.00 26,708.54 112,465.98 189,787.82 225,037.70 199,684.56 25,353.14 0.00 25,353.14 89% 2018 CDBG Activities 6002 ok 1.0 Neighbor to Neighbor Home Rehab Love Knows No Bounds 40,000.00 0.00 0.00 0.00 40,000.00 10,247.00 29,753.00 0.00 29,753.00 26% 6003 complete 2.0 Chartwell House Tompkins Community Action 75,000.00 125,000.00 0.00 125,000.00 75,000.00 75,000.00 0.00 0.00 0.00 100% 6004 complete 8.0 Ramp Loan Program FLIC 22,740.00 2,260.00 0.00 0.00 25,000.00 25,000.00 0.00 0.00 0.00 100% 6005 complete 9.0 Mini Repair INHS 32,500.00 0.00 0.00 0.00 32,500.00 32,500.00 0.00 0.00 0.00 100% 6006 complete 11.0 Hospitality Employment Training Program GIAC 110,000.00 0.00 0.00 0.00 110,000.00 110,000.00 0.00 0.00 0.00 100% 6007 complete 13.0 Volunteer Worker & Job Skill Training Finger Lakes ReUse, Inc. 40,300.00 31,500.00 0.00 0.00 71,800.00 71,800.00 0.00 0.00 0.00 100% 6008 complete 14.0 Work Preserve Job Training Historic Ithaca 66,760.00 740.00 0.00 2,607.89 67,500.00 67,500.00 0.00 0.00 0.00 100% 6009 ok 16.0 Targeted Urban Bus Stop Upgrades TCAT 13,500.00 0.00 0.00 0.00 13,500.00 6,794.50 6,705.50 0.00 6,705.50 50% 6010 complete 19.0 Immigrant Services Catholic Charities 30,000.00 0.00 0.00 0.00 30,000.00 30,000.00 0.00 0.00 0.00 100% 6011 complete 20.0 Work Preserve Job Readiness Historic Ithaca 20,000.00 0.00 0.00 0.00 20,000.00 20,000.00 0.00 0.00 0.00 100% 6012 complete 21.0 2‐1‐1 Info and Referral Human Services Coalition 20,000.00 0.00 0.00 0.00 20,000.00 20,000.00 0.00 0.00 0.00 100% 6013 complete 22.0 Housing For School Success Year #3 Ithaca City School District (ICSD) 27,005.00 0.00 0.00 0.00 27,005.00 27,005.00 0.00 0.00 0.00 100% 6014 complete 23.0 CDBG Admin IURA 137,214.00 0.00 0.00 0.00 137,214.00 137,214.00 0.00 0.00 0.00 100% 6015 complete 25.0 Economic Development Loan Fund IURA 26,052.00 0.00 125,000.00 0.00 151,052.00 151,052.00 0.00 0.00 0.00 100% 6016 complete 17.0 Final Phase: Heating & Roofing 25 DICC 0.00 0.00 29,300.00 0.00 29,300.00 29,300.00 0.00 0.00 0.00 100% 6017 ok 18.0 Domestic Violence Center Renovation 25 Advocacy Center 0.00 500.00 9,460.72 0.00 9,960.72 8,359.00 1,601.72 0.00 1,601.72 84% ok Unallocated 2018 CDBG N/A 25,000.00 0.00 2,607.89 25,000.00 2,607.89 0.00 2,607.89 0.00 2,607.89 N/A Total 686,071.00 160,000.00 166,368.61 152,607.89 862,439.61 821,771.50 40,668.11 0.00 40,668.11 95% 2018 HOME Activities 8002 ok 3.0 402 South Cayuga Street INHS 150,000.00 0.00 0.00 0.00 150,000.00 140,000.00 10,000.00 0.00 10,000.00 93% 2 8003 complete 4.0 Housing Scholarship Program The Learning Web 65,592.00 8,886.25 0.00 8,886.25 65,592.00 65,592.00 0.00 0.00 0.00 100% 24,2 8004 complete 5.0 Security Deposit Assistance Catholic Charities 18,250.00 6,255.00 29,995.00 6,250.00 48,250.00 48,250.00 0.00 0.00 0.00 100% 8004a complete 6.0 Security Deposit Inspections 24 TCA 1,058.00 0.00 1,442.00 0.00 2,500.00 2,500.00 0.00 0.00 0.00 100% 8005 ok 7.0 INHS Scattered Site 2 (CHDO) 24 IURA 0.00 0.00 100,000.00 0.00 100,000.00 95,622.00 4,378.00 0.00 4,378.00 96% 8006 complete 10.0 Additional Reserve (CHDO) 24, 26 TBD 97,022.70 0.00 2,351.78 99,374.48 0.00 0.00 0.00 0.00 0.00 N/A 8007 complete Home Admin IURA 36,880.30 0.00 0.00 0.00 36,880.30 36,880.30 0.00 0.00 0.00 100% ok 2018 HOME Unallocated2 N/A 0.00 0.00 15,891.14 0.00 15,891.14 0.00 15,891.14 0.00 15,891.14 N/A Total 368,803.00 15,141.25 149,679.92 114,510.73 419,113.44 388,844.30 30,269.14 0.00 30,269.14 93% 2019 CDBG Activities 6022 ok 1.0 Homeowner Rehab INHS 67,594.32 0.00 0.00 0.00 67,594.32 0.00 67,594.32 0.00 67,594.32 0% 6023 ok 2.0 Small Repair Program INHS 21,110.00 0.00 11,390.00 0.00 32,500.00 9,917.72 22,582.28 0.00 22,582.28 31% 6024 ok 6.0 Finger LakesReUse Job Skills Training Finger Lakes ReUse, Inc. 95,529.00 0.00 0.00 0.00 95,529.00 40,761.88 54,767.12 0.00 54,767.12 43% 6025 ok 7.0 Work Preserve Job Training Historic Ithaca 67,500.00 0.00 0.00 0.00 67,500.00 14,640.01 52,859.99 0.00 52,859.99 22% 6026 ok 8.0 Hospitality Employment Training Program GIAC 110,725.28 0.00 0.00 0.00 110,725.28 0.00 110,725.28 0.00 110,725.28 0% 6027 complete 9.0 Ithaca ReUse Center Acquisition Finger Lakes ReUse, Inc. 100,000.00 0.00 0.00 0.00 100,000.00 100,000.00 0.00 0.00 0.00 100% 6028 complete 10.0 Economic Development Loan Fund IURA 0.00 107,000.00 396.99 0.00 107,396.99 107,396.99 0.00 0.00 0.00 100% 6029 ok 11.0 Black Girl Alchemists Public Art Mosaic CAP 7,500.00 0.00 0.00 0.00 7,500.00 1,066.46 6,433.54 0.00 6,433.54 14% 6030 complete 12.0 Housing For School Success Beverly J. Martin Elem 15,700.00 0.00 0.00 0.00 15,700.00 15,700.00 0.00 0.00 0.00 100% 6031 complete 13.0 2‐1‐1 Human Services Coalition 0.00 0.00 15,000.00 0.00 15,000.00 15,000.00 0.00 0.00 0.00 100% 6032 ok 14.0 Work Preserve: Job Readiness Historic Ithaca 20,000.00 0.00 0.00 0.00 20,000.00 3,556.08 16,443.92 0.00 16,443.92 18% 6033 ok 15.0 A Place To Stay Catholic Charities 20,000.00 0.00 0.00 0.00 20,000.00 0.00 20,000.00 0.00 20,000.00 0% 6034 ok 16.0 Immigrant Services Catholic Charities 25,059.00 0.00 0.00 0.00 25,059.00 20,882.50 4,176.50 0.00 4,176.50 83% 6035 ok 17.0 CDBG Admin IURA 137,679.40 0.00 0.00 0.00 137,679.40 117,075.37 20,604.03 0.00 20,604.03 85% Total 688,397.00 107,000.00 26,786.99 0.00 822,183.99 445,997.01 376,186.98 0.00 376,186.98 54% 2019 HOME Activities 8011 ok 1.0 Homeowner Rehab INHS 42,151.58 0.00 0.00 0.00 42,151.58 0.00 42,151.58 0.00 42,151.58 0% 8012 ok 3.0 Immaculate Conception School Redev INHS 98,668.22 0.00 101,231.78 0.00 199,900.00 0.00 199,900.00 0.00 199,900.00 0% 8013 ok 4.0 Housing Scholarship Program The Learning Web 70,560.00 0.00 0.00 0.00 70,560.00 6,840.79 63,719.21 0.00 63,719.21 10% 8014 ok 5.0 Security Deposit Assistance‐Vulnerable Households Catholic Charities 63,995.00 0.00 1,456.00 1,451.00 64,000.00 26,619.30 37,380.70 0.00 37,380.70 42% 8015 ok 18.0 HOME Admin IURA 30,597.20 0.00 0.00 0.00 30,597.20 25,158.90 5,438.30 0.00 5,438.30 82% 3 2019 HOME Unallocated 0.00 0.00 1,451.00 0.00 1,451.00 0.00 1,451.00 0.00 1,451.00 0% Total 305,972.00 0.00 104,138.78 1,451.00 408,659.78 58,618.99 350,040.79 0.00 350,040.79 14% 2019 CDBG‐CV Activities ok 10.0 CD‐RLF #46: COVID‐19 Emergency SBRF AFCU 0.00 140,000.00 0.00 0.00 140,000.00 0.00 0.00 140,000.00 140,000.00 0% 6039 ok 19.0 Emergency Rental Assistance Program INHS 190,000.00 0.00 0.00 0.00 190,000.00 0.00 190,000.00 0.00 190,000.00 0% 6040 ok 20.0 CDBG‐CV Admin IURA 80,324.80 0.00 0.00 0.00 80,324.80 0.00 80,324.80 0.00 80,324.80 0% 6041 ok 21.0 Laundry & Internet Needs During COVID‐19 OAR of Tompkins County 11,000.00 0.00 0.00 0.00 11,000.00 0.00 11,000.00 0.00 11,000.00 0% Child Development Council of Central ok 6042 22.0 Ithaca CARES About Re‐opening Child Care NY, Inc. 10,000.00 0.00 0.00 0.00 10,000.00 0.00 10,000.00 0.00 10,000.00 0% 6043 ok 23.0 Aid for Immigrants During COVID‐19 Catholic Charities 10,879.00 0.00 0.00 0.00 10,879.00 0.00 10,879.00 0.00 10,879.00 0% 6044 ok 24.0 DICC Child Care Center Re‐Opening Assistance DICC 25,600.00 0.00 0.00 0.00 25,600.00 0.00 25,600.00 0.00 25,600.00 0% 6045 ok 25.0 COVID‐19 Emergency Assistance Program The Salvation Army Assistance 20,000.00 0.00 0.00 0.00 20,000.00 0.00 20,000.00 0.00 20,000.00 0% 6046 ok 26.0 COVID‐19 Testing for Vulnerable Populations The REACH Project 20,000.00 0.00 0.00 0.00 20,000.00 0.00 20,000.00 0.00 20,000.00 0% 6047 ok 27.0 Security Deposits for Safer Housing Catholic Charities 25,000.00 0.00 0.00 0.00 25,000.00 0.00 25,000.00 0.00 25,000.00 0% Total 392,803.80 140,000.00 0.00 0.00 532,803.80 0.00 392,803.80 140,000.00 532,803.80 0% Total Unexpended Funds Unexpended CDBG Entitlement Funds (Excludes CDBG‐CV Funds) 416,855.09 Unexpended CDBG Program Income Committed to Action Plan Activities 0.00 CDBG Revolving Loan Fund Balance (#02 Bank Balance excluding interest) 195,624.40 Unexpended HOME Entitlement Funds 405,663.07 Unexpended HOME Program Income 15,000.00 HOME Program Income Unassigned 0.00 Total Unexpended HUD Funds 1,018,142.56 Unexpended CDBG‐CV Funds 392,803.80 Unexpended CDBG‐CV Program Income 140,000.00 Total Unexpended COVID‐19 Funds 532,803.80 Total Unexpended HUD Funds 1,410,946.36 1.5 CDBG Spend Down Ratio Analysis (must be less than 1.5 by June 1st of each year): CDBG Spend Down Ratio = total unexpended CDBG funds/most recent annual CDBG award Most Recent Annual CDBG Award: 688,397 1.5 x Most Recent CDBG Award: 1,032,596 Current Unexpended CDBG Funds: 612,479 Current CDBG Spend Down Ratio: 0.89 Compliance With 1.5 CDBG Spend Down Ratio: Yes Amount Required to be Expended by 6/1 to Meet CDBG Spend Down Ratio: ‐420,116 Page 1 of 9  LOAN REPAYMENTS DUE TO IURA August 2020 D Org D ue at Mon Lo B an St e P R ym in r Fi e th d al at ec t Lo al an Ye na Py y m Pa an ce us D 'd a l % t i at Entitlement Loans Diane's Downtown Auto-revised 5/3/12 $ 80,000 2006 2026 4 $ 449.85 $ 454.70 $ 28,753.75 Current 8/21/2020 Cedar Creek(90K HOME/10K HODAG)2 $ 100,000 2008 2038 5 N/A N/A $ 172,695.32 Int. Only Pmts. subject to cash flow N/A Breckenridge Place $ 400,000 2012 2053 1 N/A N/A $ 495,253.34 Int. only pmts. due subject to cash flow N/A TOTAL ENTITLEMENT LOANS $ 580,000 $ 449.85 $ 454.70 $ 696,702.41 CD-RLF Past Due-owes August 2020 - Interest only 4/1-9/1/2020 Ithaca Coffee Roasting Facility $ 100,000 2013 2033 2.5 $ 537.42 $ - $ 74,103.50 (Principal deferment due to COVID-19) 7/1/2020 Current - Interest only 4/1-9/1/2020 (Principal deferment due to LAG Restaurant (The Rook) $ 40,000 2016 2022 2.5 $ 600.72 $ 31.64 $ 15,187.98 COVID-19) 8/1/2020 210 Hancock 6 $ 120,000 2016 2048 3.5 $ 565.87 $ 565.87 $ 119,375.71 Current 8/7/2020 Tompkins Community Action (Harriet Giannelis) $ 84,200 2018 2039 2.5 $ 440.54 $ 440.54 $ 78,237.91 Current 8/3/2020 Tompkins Community Action Relocation Loan $ 90,960 2018 2029 2.5 $ 857.48 $ 857.48 $ 79,413.09 Current 8/3/2020 No accrued interest or pmts due in construction period - up to 3 Scattered Site Preservation $ 160,000 2018 2051 2 $ - $ - $ 128,662.00 years N/A Sunny Days $ 50,000 2014 2020 2.5 $ 888.37 $ 888.37 $ 3,411.42 Current 8/1/2020 TOTAL CD-RLF LOANS $ 645,160 $ 3,890.40 $ 2,783.90 $ 498,391.61 CD-RLF Priority Business Current - Interest only 4/1-9/1/2020 (Principal deferment due to 1 State Theatre $ 458,500 2009 2029* 2 $ 1,741.96 $ 560.79 $ 330,144.10 COVID-19) 8/1/2020 Current - Interest only 4/1-9/1/2020 (Principal deferment due to 5 Delante $ 150,000 2015 2023 2.5 $ 1,954.31 $ 30.81 $ 14,789.27 COVID-19) 8/1/2020 Current (Interest only 4/1-9/1/2020 (Principal deferment due to Liquid State Brewing Company 2017 2024 0 $ 975.54 $ 96.16 $ 46,177.09 COVID-19) 3/5/2020 Current - Interest only 4/1-9/1/2020 (Principal deferment due to Urban Core $ 200,000 2017 2037 3.5 $ 1,159.92 $ 386.85 $ 185,687.68 COVID-19) 8/1/2020 GreenStar Coop $ 400,000 2019 2029 3.5 $ 3,955.43 $ 3,955.43 $ 391,609.28 Current 8/3/2020 Finger Lakes Massage Group $ 150,000 2015 2023 3.5 $ 2,152.91 $ - $ 83,081.39 Past Due-owes Sept. 2019 - Aug 2020 8/1/2019 TOTAL CD-RLF PRIORITY BUSINESS $ 1,358,500 $ 11,940.07 $ 5,030.04 $ 1,051,488.81 CDBG 210 Hancock 6 $ 130,404 2016 2048 2 N/A $ 2,599.00 $ 133,147.50 Int. only pmts. due subject to cash flow 8/28/2020 Non-CDBG Past Due-owes August 2020 (Interest only 3/1- 8/1/2020- 4 Ithaca Downtown Assoc (Canopy Hotel) $ 1,375,000 2016 2037 3.05% $ 7,660.18 $ - $ 1,263,188.13 Principal deferment due to COVID-19) 6/22/2020 TOTAL NON-CDBG $ 1,375,000 $ 7,660.18 $ - $ 1,263,188.13 HODAG Breckenridge Place $ 600,000 2012 2043 2 $ 2,217.72 $ 2,217.72 $ 495,882.02 Current 8/4/2020 TOTAL HODAG LOANS $ 600,000 $ 2,217.72 $ 2,217.72 $ 495,882.02 HOME 3 Stone Quarry Apartments, LLC $ 370,000 2014 2045 2 N/A $ - $ 377,806.97 Int. only pmts. due subject to cash flow 6/2/2020 210 Hancock 6 $ 206,923 2017 2047 2 N/A $ 4,145.00 $ 211,306.59 Int. only pmts. due subject to cash flow 8/28/2020 No accrued interest or pmts due in construction period - not to Cayuga Flats $ 100,000 2020 2070 0 N/A N/A $ 95,622.00 extend for 24 months N/A TOTAL HOME $ 576,923 4,145.00 $ 684,735.56 TOTAL IURA LOAN PORTFOLIO $ 5,265,986 $ 26,158.22 $ 17,230.36 $ 4,823,536.04 Agrees to Balance Sheet for August 2020 $ (4,145.00) 210 Hancock HOME Interest Only Pmt (directly to IURA) $ (2,599.00) 210 Hancock CDBG Interest Only Pmt (directly to IURA) Notes $ 10,486.36 Agrees to M&T loan Statement for August 2020 1. State Theatre's loan was extended/balloon payment now due in March 2029 2. Cedar Creek's first Interest Only payt. due 1/1/11 - yearly payt. subject to available cash flow 3. Permanent phase for Stone Quarry began 11/1/2015. Permanent phase interest rate is 2%. Interest compounds annually. Interest payments in permanent phase are subject to cash flow. Balloon payment of principal and all interest owed due in 2045. 4. Canopy Hotel closed on 8/10/2016. Interest only pmts are due for the first 15 months. Interest rate is adjustable every five years. P&I payments begin 1/1/2018. 5. Delante Loan was disbursed 2/3/2016. First 6 months Interest Only payments due beginning 3/1/2016. Interest Rate 3.5%. 6. 210 Hancock loans (3) have a maximum 24 month const period where interest at 2% and 3.5% will compound annually. No principal or interest payments are due during the construction period. Interest rates will remain constant in Permanent phases. 7. Urban Core Loan was disbursed 8/29/2017 for closing on 8/30/2017. First 6 months Interest Only payments due beginning 10/1/2017. Interest Rate 3.5%.  LEASE PAYMENTS DUE TO IURA August 2020 Q Fe at d M ua e e on rt Ye St Pa La th e at yt st Project Fe ly Fe rly ar ly us .R ec e e D ' Cherry Street Industrial Park Evaporated Metal Films Yearly Maintenance Fee - July $ 236.80 Current 7/29/2020 Precision Filters Yearly Maintenance Fee - July $ 375.00 Current 7/21/2020 Cayuga Green Allpro Parking - air rights lease Monthly Lease $ 2,937.00 Past Due - owes August 2020 8/3/2020 (rate change 1/1/2020) Cayuga Green-Parcel A ground floor Monthly Lease-rate change on 2/1/2020 $ 6,784.00 Current 8/19/2020 . Cinemapolis Past Due - owes August 2020 (Pmt Rec'd 9/3/2020- Monthly Lease-rate change on 5/1/20 $ 3,320.00 Will be reflected on September's statement) 5/13/2020 Qrtly Maint Fee- Jan., April, July, Oct. $ 293.75 Current 7/14/2020 (Maint Fee rate change on 7/1/20) Other Leases Southside Community Center-RIBS Past Due - owes August (Pmt Rec'd 9/2/2020-Pmt will Monthly Lease -New rate 7/1/20 $ 468.41 be reflected on September's statement) 7/8/2020 Farmer's Market/Steamboat Landing Past Due - owes August 2020 (Agreement to Quarterly Lease - June, Aug., Oct., Dec. $ 8,719.00 discount/defer payments in process) 6/9/2020