|
Attachment D: Lewelling Interim Housing Funding Sources (as of 10/8/23)
<br />Type Fund Name Amount
<br /> Amount to
<br />Acquisition, Rehab
<br />and/or Relocation
<br /> Amount to
<br />Operations/Services Status Notes:
<br />Federal
<br />CDBG (FY22-23: $300K; FY 23-24: $207,682)$507,682 $507,682 Pending HUD release At the time this staff report was published, City was still awaiting HUD release of
<br />these CDBG funds per National Environmental Protection Act (NEPA) clearance.
<br />HOME (FY20-21: $167,415; FY 21-22: $211,966; FY 22-23: $231,786; FY23-24: 225,239)$836,406 $836,406 Pending HUD release At the time this staff report was published, City was still awaiting HUD release of
<br />these HOME funds per NEPA clearance.
<br />American Rescue Plan Act (ARPA)$750,000 $750,000
<br />Available
<br />Council approved on 11/1/21 an ARPA Budget for 2 Year FY21-23 Budget (Reso 21-
<br />150). Fudndg source is US Dept of Treasury. These funds are available for use.
<br />State
<br />AB 102 Budget Act of 2023 $2,500,000 $2,500,000
<br />Available
<br />City was awarded this funding for acquisition and renovationsf for the Nimitz Motel
<br />when the Governor signed this bill into law on July 10, 2023. City will be reimbursed
<br />for these funds.
<br />Project Homekey Round 3*$9,328,258 $8,068,258 $1,260,000 Pending State
<br />confirmation and release
<br />At the time this staff report was published, City was still awaiting State HCD final
<br />written funding approval. Therefore, the Homekey funding amount may change. The
<br />operating/services subsidy may be used for 3 years.
<br />Permanent Local Housing Allocation/PLHA (CY2020: $543,946; CY2021: $598,596)$1,142,542 $1,142,542 Pending State release
<br />May potentially be used for operations/services, but City is awaiting State
<br />confirmation. At the time this staff report was published, City was awaiting State
<br />execution of PLHA funding agreement amendments in order to release funds.
<br />County
<br />Homeless Housing, Assistance & Prevention (HHAP) $523,000 $523,000 Available State services funding via Alameda County.
<br />HOME-ARPA **$466,034 $466,034 Pending HUD/County
<br />release
<br />Conditional commitment letter from County HCD letter 1/26/23 pending Homekey
<br />award and HUD NEPA clearance.
<br />City
<br />Affordable Housing Trust Fund $374,500 $374,500 Available
<br />$309,500 have already been deposited for opening of escrow and subsequent
<br />extensions and will be applied to the purchase price at closing. $65,000 have been
<br />allocated to HCEB for predevelopment cost. Homekey may be able to reimburse the
<br />City for some or all of these AHTF funds.
<br />General Fund***$7,100,000 $7,100,000 Available/Guaranty
<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 as an annual
<br />subsidy to the nav center for at least $ 1 million/fiscal year. City Council approved
<br />increasing this subsidy guaranty from $5.6 million to $7.1 million over 5 years on
<br />June 5, 2023.
<br />Low/Mod Housing Asset Fund $0 $0 $0 TBD
<br />TBD. Staff is assessing the available balance for L/M Housing Asset Fund to apply
<br />to this project for acquisition, rehab, operations/services, relocation, etc., if needed.
<br />TOTAL $23,528,422 $14,645,422 $8,883,000
<br />*Project Homekey Round 3 funding amount subject to change as City is awaiting formal written confirmation from State HCD shortly.
<br />**Conditional approval letter from Alameda County HCD in January 2023
<br />***$7.1 million subsidy guaranty over 5 years approved by City Council on June 5, 2023 (Reso 23-058)
<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.
<br />*****Except for Homekey, AB 102 and City ARPA, City reserves the right not to use some of the other above listed funds if not necessary to implement this project.
|