3A Public Hearing 2011 0307 - Laserfiche WebLink

Home

PART I. RESOURCES This section provides a brief description of the federal, State, local, and private resources available to implement the City's FY 2011 -2012 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 2011 -12, the City of San Leandro is estimated to receive a grant in the amount of $785,872. Program income from repayment of housing loans is estimated to be $0, but unallocated/unspent funds are estimated to be $15,570.22. 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 to provide tenant -based assistance for income - eligible families. The City is projected to receive $329,247 in HOME funds through the Alameda County HOME Consortium for FY 2011 - 12 and has $651,333 in remaining HOME funds from previous years. 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 December 2010, there are approximately 1,355 San Leandro households with 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 investors, typically corporations, in exchange for project equity. Since its creation in 1986, the program has been the largest producer of affordable rental housing in nationwide and the tax credits serve as a substantial financing source for eligible projects. Continuum of Care SuperNOFA 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, comprehensive Notice of Funding Availability (Super NOFA), issued by HUD for supportive housing and Shelter Plus Care programs. STATE State Housing and Community Development (HCD) Programs State HCD has a variety of affordable housing programs to assist eligible local governments. Proposition 1C, the State's housing bond which passed November 2006, provides funding for HCD programs. The Governor's Homeless Initiative is an interagency effort to reduce homelessness. Funding through the Governor's Homeless Initiative assists with the development DRAFT Action Man - FY 2811 -1812 City of San Leandro Page 5