Department: Harris County Resources for Children and Adults
Department Head/Elected Official: Joel Levine, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Financial Authorization
Project ID (if applicable):
Vendor/Entity Legal Name (if applicable):
MWDBE Contracted Goal (if applicable):
MWDBE Current Participation (if applicable):
Justification for 0% MWDBE Participation Goal: Choose an item.
Request Summary (Agenda Caption):
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Request for approval of the opening of two escrow accounts; one with a starting balance of $100,000 for operating expenses and another account for holding apartment security deposits. Both accounts are needed to operate the HAY Center Campus apartment complex.
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Background and Discussion:
The HAY Center works with youth and young adults, ages 14 through 25, who are currently in or have aged out of the foster care system. The HAY Center provides wraparound services that includes supportive case management, education, employment, housing, mentorship, and services to address well-being. The HAY Center is preparing to open the HAY Center Campus which will include a fifty-unit apartment complex for the youth and young adults we serve. The $100,000 in the escrow account will assist in covering costs during the first year of lease up and operations.
Expected Impact:
The initial funding of $100,000 is needed until the apartments start generating income that exceeds the cost of operational expenses. The timeline for that to happen is expected to be 12-18 months.
Alternative Options:
There are no alternative options.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
X Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service
Prior Court Action (if any):
Date
Agenda Item #
Action Taken
Location:
Address (if applicable): 3131 Gulf Freeway, 77003
Precinct(s): Countywide
Fiscal and Personnel Summary
Service Name
HAY Center
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