James Wong, Senior Project Manager March 14, 2016

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Presentation transcript:

James Wong, Senior Project Manager March 14, 2016 City Council Public Hearing Substantial Amendment to Annual Action Plan 2015-2016 for HOME Funds James Wong, Senior Project Manager March 14, 2016

Substantial Amendment to AAP Recommendation Find that the recommended action is exempt from CEQA under the General Rule provision. Adopt a resolution approving a Substantial Amendment to the Annual Action Plan pertaining to HOME funds as described.

Substantial Amendment to AAP Background Annual Action Plan sets forth how the City will utilize federal ESG, CDBG and HOME entitlement funds. Required to be submitted to HUD each year AAP for federal PY 2015-2016 was approved by City Council on 7/13/15. Substantive changes to the AAP, such as changes to funding allocations, require approval of a “Substantial Amendment” in a public hearing. Approved by Northwest Commission at 2/9/16 mtg.

Substantial Amendment to AAP Proposed Changes to Annual Action Plan Replace $420,276 in prior year (PY2014) HOME dollars previously allocated to Community Arms security upgrades/rehab project with same amount of current year (PY 2015) HOME dollars Allocate $1.1M HOME funds to a new activity - Summit Grove, a 21-unit affordable homeownership project at Summit Ave and Orange Grove Blvd developed by Heritage Housing Partners.

Substantial Amendment to AAP Proposed Changes to Annual Action Plan Project Previous HOME Funding Proposed Community Arms $420,276 Total PY2014 Allocation $372,812 PY2015 Allocation $ 45,464 Program Income $420,276 Summit Grove $0 $1,114,267 Total $ 420,276 PY2014 Allocation $ 693,991 Program Income $1,114,267

Substantial Amendment to AAP $616K HOME Funds Available $380,959 for new construction, rehabilitation, or preservation projects $235,210 for projects sponsored by a Community Housing Development Organization