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Three-Year Funding Plan <br /> <br />While it is not mandatory, HUD encourages jurisdictions to plan for use of CDBG funds in more <br />than one-year increments. Jurisdictions may address planning for CDBG funding in cycles of <br />up to three years. Multi-year planning is generally beneficial in that it helps cities to more <br />efficiently target CDBG funds. In addition, a multi-year funding plan assists subrecipient <br />agencies in budgeting and in planning for larger projects. <br /> <br />As discussed earlier, agencies were invited two years ago to submit applications for the next <br />three years (fiscal years 2003, 2004, and 2005). Therefore, many agencies that are interested in <br />CDBG funding have already been granted allocations as part of the three-year funding approval, <br />as shown in Tables A and B. Now that the City has received notification by HUD of its FY <br />2005 grant amount ($321,586), the task before the Council is to make a recommendation <br />concerning the additional funds that were not allocated last year. The actual commitment of <br />funds by the City to each agency will occur as part of the annual City-agency CDBG contracts <br />that are finalized prior to the beginning of each new fiscal year (July 1). <br /> <br />HUD/CDBG Program Requirements <br /> <br />All projects or activities receiving CDBG funding must primarily benefit low-income <br />households (i.e. less than 80% of the Alameda-Contra Costa area median income level; see <br />Attachment 6 for current income levels). In addition, projects must generally fall within the <br />categories listed below (and must meet the applicable criteria): <br /> <br /> 1. Public Improvements/Economic Development <br /> <br /> a. Public Works: · The project must fulfill a need within a designated target area (Pleasanton does not <br /> currently have any designated target areas). <br /> · A minimum of 30% of the total project cost must be met by the City. <br /> <br /> b. Public Facilities: · The project must meet a need not being met by existing facilities. <br /> · The project must benefit persons of lower income within a neighborhood target area <br /> Pleasanton's Downtown area). <br /> <br /> c. Economic Development: · The project should produce visible results in meeting identified needs of persons of <br /> lower income. <br /> · The majority of funds for the project must come from non-CDBG, outside funding <br /> sources. <br /> <br /> · The request should involve primarily the funding of"hard" items (physical <br /> improvements, etc.); "program costs" and similar on-going expenses are generally <br /> ineligible for CDBG funding. <br /> <br />SR:05:103 Page 4 c~)Bo CCSR 2005 final.doc <br /> <br /> <br />