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BACKGROUND The Home Investment Partnership Program (HOME) was established through the Cranston-Gonzalez National Affordable Housing Act of 1990 to provide funding for the new construction or substantial rehabilitation of affordable housing. The program is separate from other federal programs such as the Community Development Block Grant (CDBG) program. When the HOME program was first established, the only cities in Alameda County which met the Department of Housing and Urban Development (HUD) criteria for an independent HOME funding allocation were Oakland and Berkeley. In order to attain eligibility to receive a HOME funds allocation, the remaining smaller jurisdictions in Alameda County entered into an agreement in 1993 to form the Alameda County HOME Consortium. The Consortium provided the necessary mass to qualify as a "jurisdiction" for the purpose of receiving an allocation of HOME funds. Pleasanton has participated as part of the Alameda County HOME Consortium since 1993. Through this participation, the City has been eligible to receive approximately $75,000 to $170,000 each year. The use of HOME funds over the past 15 years is included in the table on Attachment 3. DISCUSSION The City has participated in the HOME program for the past nine years through an existing cooperative agreement with Alameda County which was approved by the City Council in 1993 and renewed in 1996, 1999, 2002, 2005, 2008, 2011 and 2014. The agreement delegated to the City Manager the authority to perform the necessary administrative functions relative to the program during the three-year terms of the past three agreements. With the start of a new three-year term in FY 2018-19 (beginning July 1, 2018), the County has requested that each participating jurisdiction renew its participation in the Consortium through the renewal of the cooperative agreement. HUD regulations require the agreements to be in place one year in advance of the start of the fiscal year. In June 20, 2017, the City Council approved the renewal of a cooperative agreement with Alameda County. The agreement is essentially the same as the current agreement and would confirm Pleasanton's continued participation as a member of the Alameda County HOME Consortium for the next three fiscal years (2018, 2019, and 2020; the current agreement will apply through 6/30/2018). Pleasanton would continue to receive a formula allocation of HOME funds which is expected to be approximately $100,000 each year based on recent allocations (but will vary according to federal funding trends). While the U.S. Department of Housing and Urban Development (HUD) recently revised this 3-year cooperative agreement, and the City of Pleasanton is required to adopt a new resolution approving the execution of this revised cooperative agreement, it is essentially Page 2 of 10