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Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Competition

Friday, June 7, 2024
City Staff

PRICE COMPETITION

The Preservation and Reinvestment Initiative for Community Enhancement (PRICE) is a competitive grant program administered by the U.S. Department of Housing and Urban Development (HUD). The program will allocate $225 million in competitive grant funding to preserve and revitalize manufactured housing and eligible manufactured housing communities (MHCs). These communities face challenges related to affordability, resilience, infrastructure, and maintenance. The PRICE main component supports low- and moderate-income homeowners with manufactured housing units and MHCs through critical investments such as repairs, infrastructure improvements, and eviction prevention services. Eligible applicants include local and state governments, Indian Tribes, non-profit entities, and community development finance institutions. The minimum grant request size is $5 Million and there are no matching funds required. 

The City of Altoona is pursuing the opportunity to gain funding to advance several housing goals for low-to-moderate income households as outlined in the 2022 Comprehensive Plan2019 Housing Action Plan, and 2023 Eau Claire Regional Housing Study.

These goals include: 

·       Utilize public funds to assist in the generation of affordable housing.

·       Target resources toward efforts and projects that create "win-win" opportunities to generate affordable housing while advancing overall community and neighborhood objectives.

·       Establish effective public-private partnerships to build a healthy housing market that provides quality and affordable options for all residents.

The City has formed a partnership with Hillcrest Estates, LLC, the owners of the MHC located at 1028 Oak Drive, to seek funding through the PRICE main competition to address deficiencies in Hillcrest's water distribution system and allow them to connect to the city water system. In addition, the improved distribution system will allow the community to be adequately served by fire hydrants - increasing the number from 1 to 20 fire hydrants. This project will benefit the 340 families, many of whom experience low- to moderate-income and pave the way for Hillcrest to utilize their remaining 220 vacant lots to provide additional homeownership opportunities.  

A copy of the draft application will be available for review in the City Clerk's office at City Hall or r esidents can review the draft application using the following link: https://drive.google.com/file/d/10iOC9V39aU_wl9R3lTiGR_5UsUlZzZ-u/view?usp=sharing

As part of the required grant submittal process, the city is seeking public comment on the application.

Residents may provide their comment using the following methods:

·       Provide comments using this survey link: https://survey.alchemer.com/s3/7819991/City-of-Altoona-PRICE-Grant-Survey

·       Attending the public hearing on June 27, 2024 at 6:00 PM in City Hall's Common Council Chambers. The public hearing will provide information on the grant program and application. Residents will also have an opportunity to provide comments on the grant and the proposed application. Residents of the City of Altoona are encouraged to attend, especially residents with low to moderate incomes. The meeting room is handicapped accessible. Persons needing additional accommodations or translation services should contact City Hall at 715-839-6092. Representatives from Hillcrest Estates, LLC, and Short Elliot Hendrickson (SEH), the grant writing and project design team, will be present at the public hearing.

·       Email Roy Atkinson, Assistant City Administrator: roya@ci.altoona.wi.us

  • Provide comments to the City Clerk's Office.