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4 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> PLEASANTON, <br /> May 2, 2023 <br /> Community Development <br /> Housing Division <br /> TITLE: ADOPT A RESOLUTION AUTHORIZING CONTINUED PARTICIPATION OF <br /> THE CITY OF PLEASANTON IN THE ALAMEDA COUNTY HOME <br /> CONSORTIUM FOR HOME FUNDS AND AUTHORIZING EXECUTION OF <br /> THE NECESSARY DOCUMENTS TO MAINTAIN ELIGIBILITY OF THE <br /> CONSORTIUM FOR HOME PROGRAM FUNDS IN ACCORDANCE WITH <br /> THE NATIONAL AFFORDABLE HOUSING ACT OF 1990 <br /> SUMMARY <br /> This report summarizes the renewal of a cooperative agreement with Alameda County <br /> to continue Pleasanton's participation in the Alameda County HOME Consortium for the <br /> next three fiscal years (2024, 2025, and 2026). The proposed action is necessary for <br /> the City to continue to receive an annual grant of federal HOME funds for affordable <br /> housing 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 2024, 2025, and 2026. <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 <br /> $130,000 per year for the next three years. As per the current agreement, five percent <br /> of the City's annual HOME grant (approximately $6,500) would go to the County as the <br /> City's contribution toward central administration of the HOME program by County staff. <br />