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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 2012 -2013 Annual 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 2012 -2013, the City will receive a grant in the amount of $560,739. The City will not have any program income, and the City will have $69,192 in unallocated /unspent CDBG funds. 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 $141,817 HOME funds that the City will receive through the Alameda County HOME Consortium reflects a 51% reduction from last year's allocation amount of $289,894. The City will also carry over $770,463 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 February 2012, there are approximately 1,426 San Leandro households with Section 8 housing certificates and 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 Final Action Plan — FY 2012 -2013 City ofSan Leandro Page 5