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THE CITY OF <br /> pLEASANTON. <br /> CITY COUNCIL AGENDA REPORT <br /> March 18, 2014 <br /> Assistant City Manager <br /> TITLE: RENEWAL OF THREE-YEAR COOPERATIVE AGREEMENT WITH <br /> ALAMEDA COUNTY FOR PLEASANTON'S PARTICIPATION IN THE <br /> ALAMEDA COUNTY HOME CONSORTIUM FOR RECEIVING FEDERAL <br /> HOME INVESTMENT PARTNERSHIP PROGRAM (HOME) FUNDS <br /> SUMMARY <br /> This report summarizes the renewal of a cooperative agreement with Alameda County <br /> to continue Pleasanton's participation in the Alameda County HOME Consortium for the <br /> next three fiscal years (2015, 2016, and 2017). This would enable the City to continue <br /> to receive an annual grant of federal HOME funds for affordable housing projects and <br /> activities. <br /> RECOMMENDATION <br /> Adopt the attached draft resolution authorizing the renewal of a cooperative agreement <br /> with Alameda County to participate in the Alameda County HOME Consortium for the <br /> purpose of receiving federal HOME funds for affordable housing development for Fiscal <br /> Years 2015, 2016, and 2017. <br /> FINANCIAL STATEMENT <br /> Approval of the attached agreement with the County will enable the City to maintain its <br /> eligibility to receive an annual grant of HOME funds estimated at approximately <br /> $100,000 per year for the next three years. As per the current agreement, five percent <br /> of the City's annual HOME grant (approximately $5,000) would go to the County as the <br /> City's contribution toward central administration of the HOME program by County staff. <br />