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14b
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2018
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041718
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14b
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4/12/2018 4:33:16 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
4/17/2018
DESTRUCT DATE
15Y
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Explain how federal funds will leverage those additional resources (private, state and local <br /> funds), including a description of how matching requirements will be satisfied <br /> To maximize leveraging of its own funds and increase the funds available for housing and <br /> community development activities, the City of Pleasanton plans to undertake the following <br /> activities: <br /> • Support applications by organizations or agencies for other public and private sources of <br /> financing to leverage City funds. <br /> • Include leveraging as a goal to the maximum extent possible in the City's HHSG funding <br /> application review process. <br /> • Support the acquisition and rehabilitation of existing and new construction of units by <br /> nonprofit housing developers. <br /> • Promote private sector rehabilitation through the City's Housing Rehabilitation Program <br /> (HRP) in collaboration with Habitat for Humanity. <br /> • Continue to provide support to nonprofit, community-based housing developers and <br /> service providers in obtaining other sources of financing. <br /> • Promote joint development with other governmental or quasi-governmental agencies to <br /> implement housing community development programs and combine multiple sources of <br /> financing. <br /> Matching requirements must be satisfied in the following federal entitlement housing programs: <br /> the HOME Program and the Emergency Solutions Grant Program. A variety of non-federal <br /> sources may be used for the HOME match requirements, which requires that $0.25 be <br /> "permanently contributed" to the HOME Program or to HOME-assisted projects for every HOME <br /> dollar spent. This requirement applies to the program as a whole, not to individual projects. The <br /> liability for matching funds occurs when the HOME Consortium actually draws down HOME funds <br /> from HUD. Sources of HOME match include cash or cash equivalents from a non-federal source, <br /> value of waived taxes or fees, value of donated land or real property, a portion of housing bond <br /> proceeds, and the cost of infrastructure improvements, among others. <br /> As a member jurisdiction, the City must comply with the HOME match requirements that have <br /> been established by the County. The County will evaluate match requirements for HOME and <br /> determine potential match sources. Some match sources may come from local affordable <br /> housing trust funds, housing bond proceeds, the value of waived local fees or permits, foregone <br /> property tax revenue, local road funds, private donations, services funded by service providers, <br /> the State, County, or foundations, other local agency funds, and publicly owned land. <br /> The City does not receive a direct allocation of Emergency Solutions Grant Program (ESG) funds. <br /> If appropriate, describe publically owned land or property located within the jurisdiction that <br /> DRAFT Annual Action Plan 18 <br /> 2018 <br /> OMB Control No:2506-0117(exp.07/31/2015) <br />
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