3A Public Hearing 2007 0416 - Laserfiche WebLink

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PART I. RESOURCES This section provides a brief description of the federal, State, local and private resources available to implement the City's FY 2007-08 Action Plan. FEDERAL Community Development Block Grant (CDBG) Funds As a CDBG entitlement locality, the City of San Leandro directly receives CDBG funds annually from the U.S. Department of Housing and Urban Development (HUD). During FY 2007-08, the City of San Leandro will receive a grant in the amount of $749,658 and program income from repayment of housing loans estimated at $0, as well as unallocated funds in the amount of $49,410. HOME Investment Partnership (HOME) Funds HOME provides flexible funding to states and local governments for affordable housing programs and activities for low income households. HOME funds can be used to acquire, rehabilitate and construct affordable housing, as well as provide tenant-based assistance. The City will receive $300,064 in HOME funds through the Alameda County HOME Consortium for FY 2007-08 and have $1,244,045 in remaining HOME funds from previous years. The City is in discussion with Eden Housing, Inc. about Eden's acquisition of a site on East 14th Street for the new construction of 51 affordable rental units for very low-income seniors. HUD Section 8 Housing Voucher Program The Housing Authority of Alameda County administers the HUD Section 8 Housing Voucher Program for San Leandro. As of February 2007, there are approximately 1,293 San Leandro households who receive Section 8 housing vouchers. The City will support the Housing Authority in its efforts to maintain the current level of vouchers for eligible San Leandrans. Low-Income Housing Tax Credits (Federal) Low-Income Housing Tax Credits are available through a federal allocation to the State government. Developers can apply to the State for an allocation, but it is a highly competitive process. The tax credits are syndicated to corporations in exchange for project equity. Tax credits are a large component of any affordable housing project and are a significant resource. Continuum of Care SuperNOF A As part of the Homeless Continuum of Care Council, the City supports agencies serving the San Leandro homeless population in their application for funding under the annual SUPER NOF A, issued by HUD for supportive housing and Shelter Plus Care programs. HUD - Economic Development Initiative (EDI) . $96,224 awarded for construction of proposed Senior Center in FY06-07. . City recently awarded $346,500 for streets cape and pedestrian safety improvements to the vital commercial corridor of East 14th Street. Draft Action Plan - FY2007-08 City of San Leandro Page 3