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THE CITY OF <br /> °r' CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> June 20, 2017 <br /> Assistant City Manager <br /> TITLE: RESOLUTION AUTHORIZING CONTINUED PARTICIPATION OF THE CITY <br /> OF PLEASANTON IN THE ALAMEDA COUNTY HOME CONSORTIUM FOR <br /> HOME FUNDS AND AUTHORIZING EXECUTION OF THE NECESSARY <br /> DOCUMENTS TO MAINTAIN ELIGIBILITY OF THE CONSORTIUM FOR <br /> HOME PROGRAM FUNDS IN ACCORDNANCE WITH THE NATIONAL <br /> AFFORDABLE HOUSING ACT OF 1990 <br /> SUMMARY <br /> This report summarizes the renewal of a cooperative agreement with Alameda County to <br /> continue Pleasanton's participation in the Alameda County HOME Consortium for the <br /> next three fiscal years (2018, 2019, and 2020). The proposed action is necessary for the <br /> City to continue to receive an annual grant of federal HOME funds for affordable housing <br /> projects and 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 2018, 2019, and 2020. <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 $100,000 <br /> per year for the next three years. As per the current agreement, five percent of the City's <br /> annual HOME grant (approximately $5,000) would go to the County as the City's <br /> contribution toward central administration of the HOME program by County staff. <br />