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HC HOME Funding Recommendations Agency I Project Description $$ °' of Comments Recomm Request Abode Services—Monthly rental subsidies for low-income $50,000 100% Recommendation is based on projected clients of the Tri-Valley Housing Scholarship Program while funded needed to maintain 6 clients in the they are in job training programs. program over time;funds are issued month-to- month based on actual expenditures Neighborhood Solutions-Housing Rehabilitation Program; $150,000 87% Important program for seniors and low-income Provision of low-interest loans and small grants to low-income (*) households;loans are eventually repaid;(*) homeowners to make necessary health and safety the HSC also recommended$24,048 from improvements. CDBG TOTAL: $200,000 90% The recommendation summarized above would result in the allocation of $200,000 in HOME funds for FY 2012 grant cycle. This represents an 18% increase over FY 2011 ($170,000). A summary of the recommended HOME funded projects is as follows: • $150,000 to Neighborhood Solutions (NS) to provide a Housing Rehabilitation Program for low-income Pleasanton homeowners. [When combined with CDBG funding, total program funding is $174,048.] The program provides small grants and larger loans to enable eligible homeowners to make needed improvements to their homes in order to retain them as a source of affordable housing. The program is utilized by a large percentage of seniors (especially mobile home residents), single parent households, and disabled households. Given the typical size of individual loans ($35,000 to $40,000) and grants ($3,500 to $5,000), staff and NS have found that an average annual budget of approximately $175,000 to $200,000 results in an active and vital program that meets the current level of need in the community. • $50,000 to Abode Services for rental subsidies as part of the Tri-Valley Housing Scholarship Program (TVHSP). [When combined with case management funding recommended by the HSC, the total program funding is $62,000.] The TVHSP provides temporary "tenant-based rental assistance" (rent subsidies) to Pleasanton residents who are participating in education or job training programs aimed at providing employment at a living wage. Subsidies are provided for a maximum of two years to help pay for housing costs while clients are in school. The program was designed to support an average of six (6) Pleasanton clients on an on-going basis. To date, a total of 54 Pleasanton residents have gone through the program, receiving an average rent subsidy of approximately $800 per month. The funding would provide support clients through June 2013. From time to time, staff receives Housing Rehabilitation Program loan repayments, generally from home owners who have sold their homes resulting in a repayment through escrow. As an example, staff recently received $48,800 from the payoff of two loans that were issued in prior years. However, these payments are sporadic and unpredictable. Because of the demand for these programs, staff is recommending that it be authorized to reallocate these funds to the Housing Rehabilitation Program as they are received. Staff will work with the program contractor to determine if the funding should be used for the program's loan or grant options. If assigned to the grant program, the funds will not be repaid. Nevertheless, the grant program, which provides Page 7 of 11