Commission approves Broward‑administered HOME funds for Margate homebuyer assistance

The commission voted to accept an agreement with Broward County to administer $114,421 in HOME homebuyer purchase‑assistance funds allocated to Margate for FY2025‑26.

City and county staff explained the program is administered by Broward County on a first‑come, first‑qualified basis and is designed to fill the gap on closings — applicants must have identified a property, a first‑mortgage approval and completed required homebuyer education before the county issues assistance. Commissioner Rosano and others asked how waiting lists are handled and whether the city could clear a backlog annually; the county representative said there is currently no standing waiting list because eligibility requires near‑term readiness to close and funds are expended as they become available.

Commissioners and county staff discussed typical purchase‑assistance amounts (the county and commissioners referenced figures of $40,000–$50,000 as program guidance) and agreed that the county will maintain an up‑to‑date website indicating when funds are open or depleted. The resolution passed by roll call.