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Attachment C: Committed City Homekey 3.0 Funding Sources <br />Type Fund Name Amount <br /> Amount to <br />Acquisition and/or <br />Construction <br /> Amount to <br />Operations/Services <br /> Amount to <br />Relocation Notes: <br />Federal <br />CDBG (FY22-23: $300K; FY 23-24: $207,682)$507,682 $385,682 $122,000 If approved, Homekey will cover 50% of relocation costs. <br />HOME (FY 20-21 HOME: $167,418; FY 21-22 HOME: $198,278; FY 22-23 HOME: $217,745)$795,009 $795,009 <br />American Rescue Plan Act (ARPA)$750,000 $750,000 Council approved on 11/1/21 an ARPA Budget for 2 Year FY21-23 Budget (Reso 21- <br />150) <br />State <br />Permanent Local Housing Allocation (PLHA)$1,142,542 $1,142,542 <br />County <br />Homeless Housing, Assistance & Prevention (HHAP) $523,000 $523,000 Approved State funding via Alameda County. <br />HOME-ARPA **$466,034 $466,034 Soft/conditional commitment letter from County HCD letter 1/26/23 <br />City <br />Affordable Housing Trust Fund $259,500 $259,500 <br />General Fund***$7,100,000 $7,100,000 <br />City Council approved $1.6 million in re-allocated Police funding for navigation <br />center in approved in 2 Year FY21-23 Budget. City Council also supported as part <br />of its annual Council priorities and FY21-22 Budget approval process an on-going <br />annual subsidy to the nav center for at least $ 1 million/fiscal year. Homekey <br />requires that applicants demonstrate that on-site services be sustainable for at least <br />5 years. The $5.6 million City match consists of: $1.6 mil (Year 1), and minimum $1 <br />mil for Years 2 -5). On June 5, 2023, staff is recommending increasing this subsidy <br />guarnaty from $5.6 milliion to $7.1 million. <br />Low/Mod Housing Asset Fund $0 $0 $0 $0 <br />TBD. Staff is assessing the available balance for L/M Housing Asset Fund to apply <br />to this project if needed. <br />TOTAL $11,543,767 $3,798,767 $7,623,000 $122,000 <br />*Note: Staff is still assessing the feasibility of some of these City funding sources which may change prior to submittal of the Project Homekey application around June 9, 2023. <br />**Conditional approval letter from Alameda County HCD in January 2023 <br />***$7.1 million subsidy guaranty over 5 years pending City Council review on June 5, 2023 <br />****City Council on March 20, 2023 approved up to $3.2 million in surplus funds as bridge funding for the acquisition of the Nimitz Motel if needed to close escrow in a timely manner in summer/fall 2023.