3A Public Hearing 2011 0307 - Laserfiche WebLink

Home

OTHER PROGRAMS To implement its housing and community development goals, the City continues to seek out funding opportunities generated from federal, State, and local sources as well as public and private sources. HUD Section 108 Loan Guarantee Program In June 30, 2010, the City received the $2.5 million HUD Section 108 Loan funds to complete the construction of the City's new senior center. With the facility's construction completed, the City has begun repaying the loan. Per the 20 -year repayment schedule provided by HUD, the City's initial loan repayment (principal and interest) of $208,464 in CDBG funds begins in FY 2011 -2012. Neighborhood Stabilization Program (NSPI) Signed into law in July 30, 2008 under the Housing and Economic Recovery Act of 2008 (H.R. 3221), this program, is designed to help address the nation -wide foreclosure crisis by providing funds for local governments to purchase vacant and foreclosed properties located throughout the participating jurisdictions. The City of Livermore acts as the lead agency and administrator under a memorandum of understanding (MOU) between all the participating cities (Livermore, San Leandro, Berkeley, Fremont and Union City). In the past fiscal year, the cities via City of Livermore have fully committed the $2,230,495 in Neighborhood Stabilization Program (NSP) funds they were cumulatively awarded to purchase vacant and foreclosed by successfully purchasing and rehabilitating four (4) single - family residential properties. For the upcoming FY 2011 -2012, the cities and its selected program contractor Hallmark Community Solutions will begin selling these rehabilitated homes to income - eligible households. Additional properties could potentially be purchased and rehabilitated should these sales result in sufficient proceeds to complete other transactions. Neighborhood Stabilization Program Round 2 (NSP2) Alameda County HCD, as lead agency for the Neighborhood Stabilization Program Round 2 Consortium (including the cities of San Leandro, Dublin, Emeryville, Fremont, Hayward, Livermore, Newark, Pleasanton, Union City, and the Unincorporated County), has received $11 million of NSP2 funding provided under the American Recovery and Reinvestment Act of 2009. In FY 2011 -2012, selected program contractors Hallmark Community Solutions and Habitat for Humanity East Bay will continue to purchase and rehabilitate abandoned and/or foreclosed single- family residential properties and sell these properties to income - eligible homebuyers. In addition, the NSP2 Consortium will be selecting a contractor through a Request for Proposals /Qualifications (RFP /RFQ) process to use NSP2 funds to acquire and rehabilitate abandoned and foreclosed rental housing. Homelessness Prevention Rapid Re- Housing Program (HPRP) The City, in coordination with the cities of Alameda and Hayward, Alameda County Housing & Community Development Department (HCD), and service partners Building Futures with Women & Children, who serves as the lead applicant and agency, Abode Services, and Davis Street Family Resource Center, will continue to use the $1.5 million in Homeless Prevention and Rapid Re- Housing Program (HPRP) funds it received in 2009 to operate the regional Housing Resource Center (HRC) located at the Davis Street Family Resource Center. In FY 2010 -2012, the HRC will continue to provide housing stabilization and financial assistance services, which include one -time back rent payments, security deposit payments, moving costs, rental assistance, DRAFT Action Plan - FY 2011 -2012 City of San Leandro Page 13