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The recommendation summarized above would result in the allocation of $90,233 in LIHF funds for FY 2015 grant cycle. This represents a 31% increase over FY 2014 ($118,000). The use of LIHF funds for the activities listed above is consistent with the policy for use of LIHF fund that was adopted by the City Council in 1994. Applications Recommended for HOME Funding As part of the HHSG review process the City has historically made recommendations regarding the use of federal HOME funds. As in prior years, these programs were reviewed by the Housing Commission. The HC's recommendations are listed below. HOME Funding Recommendations Agency l Project Description Recomm Request Comments Abode Services-Provision of temporary $40,000 53% Although Abode originally requested$76,000 for rent subsidies, monthly rent subsidies for Pleasanton staff did a detailed analysis of current and projected need for rent clients of the Tri-Valley Housing Scholarship subsidies and concluded that$40,000 would be sufficient to Program while completing their education. carry the program through the next year(including a reasonable buffer)based on current and projected client load; Abode agrees with this analysis Neighborhood Solutions-Housing $34,756 73% Important program for seniors and low-income households;loans Rehabilitation Program;Provision of low- are eventually repaid;would also receive$74,800 in CDBG interest loans and small grants to low- funds for a total of$109,556;with carry-over funds from prior income homeowners to make necessary years,this level of funding is deemed sufficient to maintain the health and safety improvements. Housing Rehab Program at a reasonable level consistent with past years TOTAL: $74,756 The recommendation summarized above would result in the allocation of $74,756 in HOME funds for FY 2015 grant cycle. This represents a significant decrease in HOME funds allocated through the HHSG program as compared to last year. However, the difference is due to the large amount of HOME funds allocated last year to the MidPen / Kottinger Gardens project. HOME Program Funding Status The City receives an annual allocation of federal HOME funds through its membership in the Alameda County HOME Consortium. Last year, the City had a balance of approximately $450,000 in HOME funds allocated in prior years that either were not yet committed to specific projects or had been allocated to the Housing Rehabilitation Program (HRP) but were not being used (mainly due to low demand for major rehab loans). The County recently implemented policies requiring timely commitment of HOME allocations by local jurisdictions in which unused funds will revert to a county- wide pool. Therefore, the majority of surplus HOME funds were allocated last year to MidPen Housing to fund predevelopment costs for the Kottinger Gardens project which is now moving forward. Based on recent cuts to the HOME program nationwide, the City anticipates future HOME allocations of approximately $75,000 per year (the allocation for FY 2015/16 is $74,756). Status of Pre-Existing Allocations Attachment 6 provides a history of funding through the CDBG program (including the allocation of LIHF funds) for the past three fiscal years (2012 through 2014). The table Page 7